Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Bybit+0.040%7-day average −0.005% · 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−$17as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.040%, 7d avg −0.005%

Together, before fees−0.090%−$9 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: SoDEX is 0.044% dearer against Bybit than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5160	0.0100	pay 0.0100% / 8h	2m 11s	$349.8M	$947.8M	100x
Short	SoDEX XRP-USD	1.5166	0.0100	get 0.0013% / 1h	2m 11s	$29K	$1.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0
Price spread: +0.040% → −0.005%: $4.43
Slippage, 4 orders: −$2.8
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$17.38
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SoDEX: live order book, 2 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	8.1 bp −$81	14.8 bp −$1,476	30.4 bp −$15.2K
Sell SoDEX live order book, 2 min ago	0.33 bp	5.0 bp −$5	7.2 bp −$72	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	1.5178	+0.119%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5175	+0.102%	$1.1M	$148K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5171	+0.073%	$7.7M	$24.0M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5162	+0.013%	$246K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.639%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5166	+0.043%	$14.6M	$73.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5166	+0.039%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5167	+0.047%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5166	+0.040%	$604K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5169	+0.059%	$20K	$383K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5174	+0.096%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5166	+0.040%	$38.5M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5178	+0.119%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5163	+0.020%	$529.3M	$2.21B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5160	long leg	$349.8M	$947.8M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5162	+0.013%	$127.4M	$862.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	+0.079%	$565K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5182	+0.145%	$144K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.191%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5170	+0.066%	$377.6M	$163.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5163	+0.020%	$310.0M	$931.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5162	+0.016%	$106.6M	$183.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5159	−0.007%	$268.8M	$388.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5162	+0.013%	—	$107.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5165	+0.036%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5174	+0.092%	$659K	$113.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5174	+0.092%	$1.1M	$33.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5182	+0.145%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5179	+0.124%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5176	+0.106%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5168	+0.050%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5169	+0.059%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5185	+0.162%	$817K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5182	+0.142%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5166	+0.040%	$29K	$1.5M	10x
HTX XRP-USDT	+0.0100%	8h	1.5170	+0.063%	$49.5M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5165	+0.033%	$54.1M	$32.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5181	+0.140%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5163	+0.019%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5181	+0.139%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5168	+0.051%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0111% / S −0.0073%	1h	1.5162	+0.014%	$784K	—	200x	as long as short
Hyperliquid XRP	+0.0145%	1h	1.5187	+0.178%	$289.9M	$268.2M	20x	as long as short
Kalshi KXXRPPERP	+0.0161%	8h	1.5178	+0.119%	$1.8M	$33.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5173	+0.086%	$5.6M	$47.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0182%	1h	1.5173	+0.086%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5172	+0.079%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5162	+0.015%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5180	+0.131%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5190	+0.198%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0573%	1h	1.5179	+0.124%	$2K	$16K	10x	as long as short