Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: Arcus against BloFin+0.007%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$240.240% of the position

Long on BloFin Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.120%−$12 on $10k

Price spread, last 4 days (all we have)+0.561%+$56 · spread now +0.007%, 7d avg −0.013%

Together, before fees+0.441%+$44 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XRP-USDT	1.5154	0.0220	pay 0.0220% / 8h	5h 26m	$24.2M	$74.8M	125x
Short	Arcus XRP-USD	1.5155	0.0100	get 0.0013% / 1h	26m 53s	$114K	$716K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against BloFin. 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 BloFinbpFee ArcusbpOrdersPrice spread, now +0.007%Rate

Funding earned: −$25.2
Price spread: +0.007% → −0.013%: $1.92
Slippage, 4 orders: −$7.46
Fee BloFin: 6 bp × 2 orders: −$12
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$47.24
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from BloFin: live order book, 2 min ago; Arcus: live order book, 37 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 BloFin live order book, 2 min ago	0.66 bp	6.7 bp −$7	6.7 bp −$67	11.1 bp −$1,112	22.6 bp −$11.3K
Sell Arcus live order book, 37 min ago	0.66 bp	5.6 bp −$6	11.5 bp −$115	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	+0.059%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5150	−0.027%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5146	−0.051%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5150	−0.026%	$7.7M	$25.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.679%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0035% / S +0.0042%	1h	1.5146	−0.056%	$818K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5153	−0.007%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0076%	8h	1.5148	−0.040%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5149	−0.030%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5153	−0.007%	$511K	$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	1.5146	−0.053%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5151	−0.016%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5165	+0.073%	$281.1M	$221.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5156	+0.013%	$38.4M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	+0.006%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5153	−0.007%	$537.2M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5152	−0.013%	$343.8M	$926.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5158	+0.026%	$125.7M	$866.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5171	+0.112%	$565K	$28K	5x	as long as short
Arcus XRP-USDshort	+0.0100%	1h	1.5155	+0.007%	$114K	$716K	20x
Bulk XRP-USD	+0.0100%	1h	1.5156	+0.014%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5154	0.000%	$369.2M	$152.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5152	−0.013%	$293.0M	$899.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5155	+0.005%	$108.2M	$171.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5153	−0.007%	$268.1M	$380.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5153	−0.007%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	+0.293%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5184	+0.197%	$659K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5175	+0.136%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	+0.356%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5154	−0.002%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5150	−0.026%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5148	−0.039%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5149	−0.030%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5157	+0.023%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5148	−0.040%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5157	+0.023%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5154	0.000%	$53.9M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5152	−0.015%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5149	−0.030%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5146	−0.051%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0186%	1h	1.5160	+0.040%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5145	−0.061%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5153	−0.007%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDTlong	+0.0220%	8h	1.5154	long leg	$24.2M	$74.8M	125x
Hibachi XRP/USDT-P	+0.0240%	1h	1.5184	+0.198%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5147	−0.049%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0352%	8h	1.5158	+0.026%	$2.1M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5156	+0.015%	$516K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.238%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0685%	1h	1.5167	+0.085%	$2K	$14K	10x	as long as short