Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Derive against BingX+0.042%7-day average −0.001% · you sell dearer than you buy

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

Long on BingX Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 3 days (all we have)−0.151%−$15 · spread now +0.042%, 7d avg −0.001%

Together, before fees−0.107%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Derive is 0.043% dearer against BingX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XRP-USDT	1.5103	0.0100	pay 0.0100% / 8h	6h 41m	—	$127.0M	—
Short	Derive XRP-PERP	1.5109	0.0100	get 0.0013% / 1h	41m 31s	$813K	$74K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive against BingX. 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 BingXbpFee DerivebpOrdersPrice spread, now +0.042%Rate

Funding earned: $0
Price spread: +0.042% → −0.001%: $4.28
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Derive: 3 bp × 2 orders: −$6
Net: −$11.72
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 3 min ago; Derive: 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 BingX live order book, 3 min ago	0.99 bp	6.0 bp −$6	6.2 bp −$62	8.6 bp −$857	16.4 bp −$8,200
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 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	1.5120	+0.113%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5088	−0.102%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5110	+0.046%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5101	−0.011%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0064%	1h	1.5100	−0.022%	$828K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.026%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5101	−0.016%	$14.5M	$72.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0069%	8h	1.5109	+0.040%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5110	+0.046%	$9.0M	$25.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5091	−0.077%	$2.8M	$14.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5094	−0.060%	$516K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5098	−0.033%	$10K	$306K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5100	−0.017%	$877K	$5.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5101	−0.013%	$38.4M	$84.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5095	−0.050%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5102	−0.009%	$534.6M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5098	−0.033%	$336.5M	$940.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5104	+0.007%	$123.8M	$869.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5121	+0.119%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5110	+0.046%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.529%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5099	−0.026%	$367.2M	$150.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5102	−0.007%	$290.1M	$901.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5089	−0.093%	$107.2M	$171.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5099	−0.026%	$264.4M	$384.8M	125x	as long as short
BingX XRP-USDTlong	+0.0100%	8h	1.5103	long leg	—	$127.0M	—
Variational Omni XRP	+0.0100%	8h	1.5155	+0.345%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5152	+0.327%	$658K	$108.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5150	+0.310%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5163	+0.397%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5108	+0.034%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5105	+0.013%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5102	−0.007%	$41K	$69K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5109	+0.042%	$813K	$74K	10x
SunX XRP-USDT	+0.0100%	8h	1.5115	+0.079%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5105	+0.013%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5102	−0.005%	$49.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5102	−0.007%	$53.6M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5099	−0.029%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5102	−0.008%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5105	+0.016%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5108	+0.033%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0177%	1h	1.5112	+0.060%	$279.8M	$223.9M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5100	−0.018%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5110	+0.046%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.596%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5104	+0.005%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5117	+0.093%	$2.1M	$36.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0342%	1h	1.5123	+0.132%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5110	+0.045%	$535K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0803%	1h	1.5154	+0.338%	$2K	$14K	10x	as long as short