Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: SoDEX against BloFin+0.020%7-day average −0.017% · 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−$18as in the Price arb table

costs, in and out, $10k−$220.220% of the position

Long on BloFin Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.117%−$12 on $10k

Price spread, last 3 days (all we have)−0.015%−$2 · spread now +0.020%, 7d avg −0.017%

Together, before fees−0.132%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.037% dearer against BloFin than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.017%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XRP-USDT	1.5354	0.0220	pay 0.0220% / 8h	7h 22m	$24.1M	$73.7M	125x
Short	SoDEX XRP-USD	1.5357	0.0100	get 0.0013% / 1h	22m 52s	$30K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$25.2
Price spread: +0.020% → −0.017%: $3.67
Slippage, 4 orders: −$1.96
Fee BloFin: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$43.49
Costs to cover: 0.220%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; SoDEX: 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 BloFin live order book, 6 min ago	0.65 bp	6.7 bp −$7	7.2 bp −$72	10.5 bp −$1,053	19.1 bp −$9,549
Sell SoDEX live order book, 1 min ago	0.33 bp	4.3 bp −$4	6.5 bp −$65	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	+0.020%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5358	+0.023%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5354	−0.001%	$257K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5359	+0.033%	$9.3M	$25.1M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0077%	1h	1.5354	−0.003%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.342%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5355	+0.007%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5359	+0.033%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5359	+0.035%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5349	−0.033%	$516K	$3.2M	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	1.5362	+0.052%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5367	+0.083%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5359	+0.032%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5348	−0.042%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5360	+0.039%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5359	+0.033%	$542.2M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5347	−0.046%	$342.4M	$920.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5342	−0.078%	$124.8M	$867.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.247%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	+0.065%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.128%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5344	−0.065%	$375.0M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5345	−0.059%	$312.2M	$906.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5346	−0.051%	$108.8M	$165.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5343	−0.072%	$268.5M	$375.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5344	−0.065%	—	$123.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	−0.013%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5361	+0.048%	$667K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5372	+0.117%	$1.1M	$38.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	−0.026%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5361	+0.046%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	+0.085%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5363	+0.061%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5358	+0.027%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5368	+0.091%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5357	+0.020%	$30K	$1.8M	10x
HTX XRP-USDT	+0.0100%	8h	1.5356	+0.015%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5355	+0.007%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5340	−0.090%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5355	+0.008%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	+0.041%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDTlong	+0.0220%	8h	1.5354	long leg	$24.1M	$73.7M	125x
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5363	+0.059%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5357	+0.021%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5361	+0.046%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5362	+0.052%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5367	+0.085%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0386%	1h	1.5358	+0.026%	$289.8M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	−0.026%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0794%	1h	1.5352	−0.012%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5367	+0.086%	$544K	$773K	10x	as long as short