Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.024%

Price spread now: Backpack against Bitget−0.059%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 7 days−0.393%−$39 · spread now −0.059%, 7d avg −0.077%

Together, before fees−0.301%−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.077%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XRPUSDT	1.5198	0.0100	pay 0.0100% / 8h	5h 31m	$268.2M	$380.4M	125x
Short	Backpack XRP_USDC_PERP	1.5189	0.0208	get 0.0026% / 1h	31m 19s	$1.9M	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now −0.059%Rate

Funding earned: $22.67
Price spread: −0.059% → −0.077%: $1.81
Slippage, 4 orders: −$1.32
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $1.17
Costs to cover: 0.233%
Break-even: 6.6 days

Slippage from Bitget: live order book, 3 min ago; Backpack: live order book, 3 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 Bitget live order book, 3 min ago	0.33 bp	6.3 bp −$6	8.0 bp −$80	19.0 bp −$1,896	26.2 bp −$13.1K
Sell Backpack live order book, 3 min ago	0.33 bp	5.3 bp −$5	6.4 bp −$64	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	1.5193	−0.033%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5191	−0.049%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5200	+0.016%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5184	−0.092%	$7.7M	$25.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.382%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0044%	1h	1.5200	+0.011%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5207	+0.059%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5204	+0.039%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5201	+0.018%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5199	+0.007%	$513K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5195	−0.020%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5202	+0.030%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5212	+0.092%	$281.9M	$221.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5206	+0.052%	$38.5M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5201	+0.021%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5202	+0.027%	$538.9M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5205	+0.046%	$345.3M	$927.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5207	+0.059%	$126.1M	$870.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5156	−0.276%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5206	+0.053%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.275%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5203	+0.033%	$370.6M	$152.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5199	+0.007%	$294.2M	$897.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5201	+0.023%	$107.0M	$171.1M	75x	as long as short
Bitget XRPUSDTlong	+0.0100%	8h	1.5198	long leg	$268.2M	$380.4M	125x
BingX XRP-USDT	+0.0100%	8h	1.5204	+0.039%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	−0.312%	$5.7M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.141%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5189	−0.060%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	−0.243%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5198	+0.001%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5206	+0.053%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5199	+0.007%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5183	−0.097%	$817K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5197	−0.004%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5182	−0.105%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	−0.131%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5181	−0.112%	$54.0M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5201	+0.023%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5202	+0.024%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5204	+0.040%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERPshort	+0.0208%	1h	1.5189	−0.059%	$1.9M	$1.3M	25x
Reya XRPRUSDPERP	+0.0215%	1h	1.5198	+0.003%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5186	−0.079%	$5.6M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5175	−0.151%	$24.3M	$75.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5184	−0.092%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5177	−0.138%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0353%	8h	1.5194	−0.026%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5209	+0.075%	$518K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	−0.053%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0675%	1h	1.5168	−0.197%	$2K	$14K	10x	as long as short