Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Bitget+2.774%71s7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$92as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1051.051% of the position

Long on Bitget Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 4 days (all we have)−3.726%−$373 · spread now +2.774%, 7d avg −0.004%

Together, before fees−3.595%−$360 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.778% dearer against Bitget than usual: you sell high and buy low (spread +2.774% now, against its 7-day average of −0.004%): +$278 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months. Mind the row above: over the last 7 days funding on this pair paid +0.131%, so the current rate has only just turned against you. The two prices were read 71 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XRPUSDT	1.5140	0.0100	pay 0.0100% / 8h	7h 32m	$267.9M	$381.4M	125x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	32m 17s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.774%Rate

Funding earned: −$14
Price spread: +2.774% → −0.004%: $277.82
Slippage, 4 orders: −$93.12
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $158.69
Costs to cover: 1.051%
Break-even: from the start

Slippage from Bitget: live order book, 2 min ago; Injective: live order book, 1 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, 2 min ago	0.33 bp	6.5 bp −$6	10.4 bp −$104	24.6 bp −$2,458	35.3 bp −$17.6K
Sell Injective live order book, 1 min ago	36.22 bp	55.0 bp −$55	doesn't fit	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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5152	+0.077%	$14.7M	$74.5M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5161	+0.139%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.198%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5153	+0.086%	$7.7M	$23.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5148	+0.054%	$246K	—	150x	as long as short
dYdX XRP-USD	+0.0011%	1h	1.5167	+0.179%	$1.1M	$154K	10x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.774%	$2K	$107K	30x
Hibachi XRP/USDT-P	+0.0072%	1h	1.5197	+0.376%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5148	+0.056%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5154	+0.092%	$618K	$3.1M	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	1.5156	+0.106%	$20K	$381K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5153	+0.089%	$990K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5148	+0.053%	$38.4M	$84.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5168	+0.186%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5145	+0.034%	$527.9M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5142	+0.013%	$353.1M	$939.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5142	+0.013%	$125.9M	$848.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5175	+0.231%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5167	+0.178%	$143K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	+0.403%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5150	+0.066%	$375.6M	$153.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5143	+0.020%	$311.2M	$916.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5148	+0.052%	$105.7M	$183.4M	75x	as long as short
Bitget XRPUSDTlong	+0.0100%	8h	1.5140	long leg	$267.9M	$381.4M	125x
BingX XRP-USDT	+0.0100%	8h	1.5148	+0.053%	—	$108.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5200	+0.396%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5198	+0.383%	$660K	$112.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5198	+0.383%	$1.1M	$33.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5222	+0.542%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5166	+0.171%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5158	+0.119%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5154	+0.093%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5152	+0.079%	$77K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5208	+0.447%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5163	+0.151%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5149	+0.059%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5173	+0.218%	$49.5M	$15.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5152	+0.079%	$54.1M	$32.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5171	+0.207%	$473K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5145	+0.030%	$2.1M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5151	+0.074%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5158	+0.119%	$8K	$2K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0119% / S −0.0084%	1h	1.5148	+0.051%	$786K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5151	+0.073%	$5.3M	$47.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5169	+0.192%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRP	+0.0182%	1h	1.5165	+0.165%	$289.9M	$267.9M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0214%	1h	1.5176	+0.238%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5170	+0.198%	$23.7M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5148	+0.054%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5163	+0.155%	$519K	$788K	10x	as long as short
Aftermath Perps XRPUSD	+0.0558%	1h	1.5191	+0.339%	$2K	$16K	10x	as long as short