Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Binance+2.548%7-day average −0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs+$156as in the Price arb table

costs, in and out, $10k−$1021.020% of the position

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.178%+$18 on $10k

Price spread, last 4 days (all we have)−3.197%−$320 · spread now +2.548%, 7d avg −0.037%

Together, before fees−3.020%−$302 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.585% dearer against Binance than usual: you sell high and buy low (spread +2.548% now, against its 7-day average of −0.037%): +$259 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4 months. Mind the row above: over the last 7 days funding on this pair paid +0.178%, 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	1.5173	0.0100	pay 0.0100% / 8h	11m 01s	$529.3M	$2.21B	100x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	11m 01s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.548%Rate

Funding earned: −$14
Price spread: +2.548% → −0.037%: $258.52
Slippage, 4 orders: −$92.02
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $142.48
Costs to cover: 1.020%
Break-even: from the start

Slippage from Binance: live order book, 3 min ago; Injective: live order book, 28 min ago.

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, 3 min ago	0.33 bp	5.3 bp −$5	6.5 bp −$65	12.7 bp −$1,271	29.7 bp −$14.9K
Sell Injective live order book, 28 min ago	39.42 bp	51.9 bp −$52	69.9 bp −$699	doesn't fit	doesn't fit

XRP on 51 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	1.5163	−0.069%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5168	−0.039%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5163	−0.067%	$246K	—	150x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.548%	$2K	$107K	30x
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5173	−0.002%	$14.5M	$73.6M	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5175	+0.010%	$7.7M	$24.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5173	−0.004%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5177	+0.024%	$604K	$3.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5177	+0.024%	$17K	$78K	7x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5163	−0.069%	$20K	$382K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5164	−0.062%	$999K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5174	+0.001%	$38.5M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5165	−0.058%	$610K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5173	long leg	$529.3M	$2.21B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5170	−0.023%	$349.7M	$949.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5171	−0.016%	$127.3M	$862.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.009%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5174	+0.004%	$143K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	+0.031%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5171	−0.016%	$377.8M	$162.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5173	−0.003%	$311.7M	$928.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5171	−0.013%	$106.6M	$183.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5172	−0.009%	$268.9M	$388.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5172	−0.009%	—	$107.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5148	−0.167%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5151	−0.147%	$658K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5180	+0.043%	$1.1M	$34.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5182	+0.057%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5171	−0.016%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5168	−0.036%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5164	−0.065%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5166	−0.049%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5175	+0.010%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5170	−0.020%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5169	−0.029%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5163	−0.069%	$49.5M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5168	−0.036%	$54.1M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5166	−0.047%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5163	−0.070%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5170	−0.023%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5167	−0.046%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0108% / S −0.0072%	1h	1.5172	−0.006%	$773K	—	200x	as long as short
Hyperliquid XRP	+0.0141%	1h	1.5185	+0.076%	$289.9M	$268.4M	20x	as long as short
Kalshi KXXRPPERP	+0.0167%	8h	1.5171	−0.016%	$1.8M	$33.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0175%	1h	1.5183	+0.063%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5176	+0.017%	$5.6M	$48.0M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5172	−0.009%	$23.6M	$77.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5162	−0.077%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5172	−0.008%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	+0.043%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0586%	1h	1.5169	−0.032%	$2K	$16K	10x	as long as short