Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0728%/8h= +79.7% APRpaid last 24h +0.109%

Price spread now: RISEx against Bybit+0.174%45s7-day average +0.056% · 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—prices read too far apart to compare

costs, in and out, $10k−$210.210% of the position

Long on Bybit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.304%+$30 on $10k

Price spread, last 4 days (all we have)−0.099%−$10 · spread now +0.174%, 7d avg +0.056%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$22 a day on $10k at the current rate, and RISEx is 0.118% dearer against Bybit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.056%. The two prices were read 45 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	Bybit XRPUSDT	1.5319	0.0100	pay 0.0100% / 8h	7h 21m	$341.9M	$920.0M	100x
Short	RISEx XRP/USDC	1.5346	0.0828	get 0.0103% / 1h	21m 52s	$543K	$773K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx against Bybit. 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 BybitbpFee RISExbpOrdersPrice spread, now +0.174%Rate

Funding earned: $152.84
Price spread: +0.174% → +0.056%: $11.75
Slippage, 4 orders: −$4.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee RISEx: 3 bp × 2 orders: −$6
Net: $143.57
Costs to cover: 0.210%
Break-even: 0.4 days

Slippage from Bybit: live order book, 2 min ago; RISEx: live order book, 52 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 Bybit live order book, 2 min ago	0.33 bp	6.2 bp −$6	8.0 bp −$80	13.9 bp −$1,393	25.9 bp −$13.0K
Sell RISEx live order book, 52 min ago	1.37 bp	4.4 bp −$4	9.0 bp −$90	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	1.5347	+0.183%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5358	+0.252%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5341	+0.142%	$257K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5341	+0.144%	$9.3M	$25.1M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0077%	1h	1.5340	+0.139%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.573%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5340	+0.137%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5334	+0.098%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5340	+0.137%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5343	+0.157%	$515K	$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	1.5340	+0.137%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5346	+0.175%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5346	+0.180%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5330	+0.074%	$38.7M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5354	+0.226%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5321	+0.013%	$540.9M	$2.05B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5319	long leg	$341.9M	$920.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5320	+0.007%	$124.7M	$867.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.020%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5349	+0.196%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	+0.100%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5319	0.000%	$374.9M	$150.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5321	+0.013%	$309.3M	$907.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5320	+0.007%	$108.7M	$165.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5310	−0.059%	$268.1M	$375.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5320	+0.007%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	+0.215%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5361	+0.276%	$667K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5372	+0.346%	$1.1M	$38.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	+0.202%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5344	+0.160%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5344	+0.163%	$49K	$443K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5345	+0.172%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5341	+0.145%	$826K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5348	+0.189%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5337	+0.118%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5351	+0.207%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5337	+0.118%	$54.5M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5316	−0.019%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5338	+0.125%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5338	+0.126%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5354	+0.228%	$24.1M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5344	+0.163%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5336	+0.110%	$14.6M	$70.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0292%	1h	1.5340	+0.137%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5359	+0.261%	$2.1M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5363	+0.285%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0385%	1h	1.5346	+0.176%	$289.5M	$214.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.202%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0791%	1h	1.5348	+0.188%	$2K	$12K	10x	as long as short
RISEx XRP/USDCshort	+0.0828%	1h	1.5346	+0.174%	$543K	$773K	10x