Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0036%/8h= −3.9% APRpaid last 24h +0.043%

Price spread now: Hibachi against Binance−0.080%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.312%+$31 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Hibachi is 0.080% cheaper against Binance than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.312%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XRPUSDT	1.5448	0.0100	pay 0.0100% / 8h	6h 57m	$539.0M	$2.12B	100x
Short	Hibachi XRP/USDT-P	1.5436	0.0064	get 0.0008% / 1h	57m 03s	$17K	$78K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee HibachibpOrdersPrice spread, now −0.080%Rate

Funding earned: −$7.56
Price spread: −0.080% → 0.000%: −$7.96
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$34.52
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 2 min ago; Hibachi: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Binance live order book, 2 min ago	0.32 bp	5.3 bp −$5	6.3 bp −$63	13.2 bp −$1,321	34.2 bp −$17.1K
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XRP on 50 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff XRP-PERP	−0.0080%	1h	1.5434	−0.091%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5435	−0.084%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	+0.271%	$70K	$108K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	+0.197%	$251K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0009%	1h	1.5450	+0.012%	$8.0M	$22.1M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5452	+0.027%	$14.1M	$73.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.724%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-Pshort	+0.0064%	1h	1.5436	−0.080%	$17K	$78K	7x
Lighter XRP	+0.0096%	1h	1.5445	−0.018%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5450	+0.012%	$611K	$3.0M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5434	−0.091%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5442	−0.042%	$482K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5435	−0.082%	$993K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5447	−0.007%	$39.2M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5431	−0.109%	$610K	$1.0M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5448	long leg	$539.0M	$2.12B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5441	−0.046%	$360.1M	$904.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5440	−0.052%	$126.5M	$851.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5434	−0.091%	$569K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5442	−0.039%	$167K	$704K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5425	−0.152%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5447	−0.007%	$384.6M	$155.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5450	+0.012%	$309.1M	$894.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5448	−0.002%	$109.6M	$180.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5453	+0.032%	$273.5M	$360.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5446	−0.014%	—	$105.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5471	+0.146%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5462	+0.090%	$672K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5484	+0.230%	$1.1M	$32.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5492	+0.284%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5443	−0.031%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5438	−0.065%	$53K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5438	−0.063%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5445	−0.020%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5450	+0.015%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5447	−0.007%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5436	−0.078%	$50.4M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5438	−0.065%	$54.8M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5448	+0.001%	$2.1M	$5.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5440	−0.052%	$9K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5445	−0.023%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5449	+0.006%	$5.3M	$45.9M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0143% / S −0.0109%	1h	1.5484	+0.234%	$830K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0148%	1h	1.5458	+0.064%	$2.0M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5447	−0.007%	$1.7M	$32.9M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5443	−0.033%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5433	−0.099%	$1.4M	$4K	15x	as long as short
Hyperliquid XRP	+0.0270%	1h	1.5464	+0.103%	$298.9M	$266.9M	20x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5440	−0.053%	$521K	$794K	10x	as long as short
Aftermath Perps XRPUSD	+0.0482%	1h	1.5461	+0.083%	$3K	$15K	10x	as long as short