Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bitget against Bulk−0.244%58s7-day average −0.010% · you buy dearer than you sell

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

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

costs, in and out, $10k−$230.229% of the position

Long on Bulk Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.001%$0 on $10k

Price spread, last 7 days+0.250%+$25 · spread now −0.244%, 7d avg −0.010%

Together, before fees+0.251%+$25 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.234% cheaper against Bulk than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 58 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	Bulk XRP-USD	1.5166	0.0100	pay 0.0013% / 1h	54m 43s	$1.6M	$5K	20x
Short	Bitget XRPUSDT	1.5129	0.0100	get 0.0100% / 8h	1h 54m	$266.3M	$399.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Bulk. 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 BulkbpFee BitgetbpOrdersPrice spread, now −0.244%Rate

Funding earned: $0
Price spread: −0.244% → −0.010%: −$23.44
Slippage, 4 orders: −$3.86
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$46.3
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Bulk: live order book, 4 min ago; Bitget: live order book, 4 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 Bulk live order book, 4 min ago	0.33 bp	3.8 bp −$4	4.4 bp −$44	11.6 bp −$1,163	27.9 bp −$13.9K
Sell Bitget live order book, 4 min ago	0.33 bp	7.4 bp −$7	9.5 bp −$95	21.9 bp −$2,190	44.4 bp −$22.2K

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	1.5158	−0.053%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5125	−0.272%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−0.105%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5145	−0.139%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5147	−0.126%	$14.4M	$75.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.598%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5146	−0.132%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0077% / S −0.0023%	1h	1.5143	−0.152%	$799K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5150	−0.105%	$7.7M	$25.2M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5135	−0.207%	$2.8M	$15.1M	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	1.5135	−0.204%	$546K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5136	−0.198%	$11K	$363K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5150	−0.102%	$999K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5132	−0.227%	$38.4M	$87.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5135	−0.202%	$602K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5128	−0.248%	$527.8M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5123	−0.284%	$343.7M	$967.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5126	−0.264%	$126.9M	$890.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5154	−0.079%	$564K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5140	−0.171%	$143K	$718K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5166	long leg	$1.6M	$5K	20x
Gate XRP_USDT	+0.0100%	8h	1.5131	−0.231%	$374.5M	$157.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5124	−0.277%	$296.5M	$916.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5136	−0.199%	$107.3M	$182.0M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5129	−0.244%	$266.3M	$399.4M	125x
BingX XRP-USDC	+0.0100%	8h	1.5131	−0.231%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5135	−0.205%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5133	−0.220%	$659K	$114.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5133	−0.218%	$1.1M	$36.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5156	−0.066%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5150	−0.107%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5150	−0.105%	$46K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5140	−0.172%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5145	−0.138%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5147	−0.128%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5150	−0.105%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5145	−0.138%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5149	−0.111%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5150	−0.105%	$54.1M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5139	−0.177%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5132	−0.227%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5143	−0.149%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5152	−0.095%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5151	−0.099%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0177%	1h	1.5152	−0.092%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0183%	1h	1.5145	−0.138%	$288.9M	$264.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5153	−0.086%	$1.8M	$35.4M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5143	−0.150%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5142	−0.158%	$23.5M	$77.7M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5150	−0.103%	$517K	$792K	10x	as long as short
Aftermath Perps XRPUSD	+0.0571%	1h	1.5154	−0.081%	$2K	$16K	10x	as long as short