Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h −0.020%

Price spread now: Injective against BingX+1.322%7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs+$26as in the Price arb table

costs, in and out, $10k−$1061.062% of the position

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Injective is 1.322% dearer against BingX than usual: you sell high and buy low (spread +1.322% now, against zero (this spread has no 7-day history yet)): +$132 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 14 months. Mind the row above: over the last 7 days funding on this pair paid +0.116%, 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	BingX XRP-USDC	1.5357	0.0100	pay 0.0100% / 8h	18m 52s	—	$3.7M	—
Short	Injective XRP/USDC PERP	1.5560	0.0089	get 0.0011% / 1h	18m 52s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.322%Rate

Funding earned: −$2.27
Price spread: +1.322% → 0.000%: $132.19
Slippage, 4 orders: −$96.23
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $23.67
Costs to cover: 1.062%
Break-even: from the start

Slippage from BingX: live order book, 1 min ago; Injective: live order book, 60 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 BingX live order book, 1 min ago	0.65 bp	9.0 bp −$9	12.5 bp −$125	26.2 bp −$2,622	59.1 bp −$29.6K
Sell Injective live order book, 60 min ago	44.99 bp	45.0 bp −$45	57.7 bp −$577	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	1.5357	0.000%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5357	−0.001%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5370	+0.085%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5361	+0.026%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0096%	1h	1.5360	+0.021%	$844K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5366	+0.059%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5364	+0.043%	$15.0M	$69.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0059%	8h	1.5366	+0.059%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERPshort	+0.0089%	1h	1.5560	+1.322%	$2K	$107K	30x
Lighter XRP	+0.0096%	1h	1.5355	−0.015%	$2.9M	$13.0M	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	1.5364	+0.046%	$440K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5372	+0.101%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5358	+0.007%	$39.1M	$81.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5359	+0.015%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5360	+0.020%	$546.5M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5357	0.000%	$341.9M	$924.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5356	−0.007%	$125.4M	$879.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5356	−0.007%	$572K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5376	+0.124%	$117K	$758K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5373	+0.101%	$1.7M	$571K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5359	+0.013%	$361.2M	$148.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5362	+0.033%	$298.1M	$888.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5361	+0.023%	$110.0M	$165.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5353	−0.026%	$267.6M	$375.4M	125x	as long as short
BingX XRP-USDClong	+0.0100%	8h	1.5357	long leg	—	$3.7M	—
Variational Omni XRP	+0.0100%	8h	1.5364	+0.048%	$11.5M	$30.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5360	+0.022%	$667K	$105.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5364	+0.046%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5364	+0.046%	$1.0M	$900K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5374	+0.111%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5366	+0.059%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5366	+0.060%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5370	+0.085%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5365	+0.052%	$31K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5357	−0.002%	$50.4M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5369	+0.078%	$54.7M	$29.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5358	+0.005%	$479K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5369	+0.078%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5372	+0.098%	$11K	$270K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5358	+0.004%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5363	+0.038%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5377	+0.130%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5369	+0.081%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5364	+0.046%	$24.3M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5372	+0.098%	$5.8M	$47.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0259%	1h	1.5370	+0.085%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5367	+0.064%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0309%	8h	1.5366	+0.059%	$2.0M	$34.5M	2.9x	as long as short
Hyperliquid XRP	+0.0585%	1h	1.5371	+0.091%	$293.5M	$213.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5384	+0.173%	$500K	$638K	10x	as long as short
Aftermath Perps XRPUSD	+0.0785%	1h	1.5379	+0.141%	$1K	$11K	10x	as long as short