XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0051%/8h= +5.6% APRnext payment +$0.06 per $10,000 · paid last 24h −0.006%

Price spread now: Backpack against Coinbase International+0.152%52s7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

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

costs, in and out, $10k−$260.258% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.052%+$5 on $10k

Price spread, last 3 days (all we have)−0.101%−$10 · spread now +0.152%, 7d avg +0.014%

Together, before fees−0.049%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.138% dearer against Coinbase International than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.014%. The two prices were read 52 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	Coinbase International XRP-PERP-INTX	1.5109	0.0216	pay 0.0027% / 1h	58m 16s	$5.7M	$46.2M	50x
Short	Backpack XRP_USDC_PERP	1.5132	0.0267	get 0.0033% / 1h	58m 16s	$1.9M	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +0.152%Rate

Funding earned: $10.75
Price spread: +0.152% → +0.014%: $13.79
Slippage, 4 orders: −$5.76
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$1.22
Costs to cover: 0.258%
Break-even: 7.8 days

Slippage from Coinbase International: live order book, 6 min ago; Backpack: 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 Coinbase International live order book, 6 min ago	0.99 bp	6.8 bp −$7	9.5 bp −$95	25.6 bp −$2,565	doesn't fit
Sell Backpack live order book, 1 min ago	0.33 bp	5.3 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit

XRP on 50 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	1.5118	+0.060%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5116	+0.046%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	+0.205%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5103	−0.040%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0025% / S +0.0052%	1h	1.5102	−0.046%	$798K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.985%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0074%	8h	1.5108	−0.007%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5114	+0.033%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5109	+0.002%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5110	+0.007%	$508K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5107	−0.013%	$9K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5105	−0.023%	$965K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5116	+0.046%	$279.5M	$220.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5106	−0.018%	$38.3M	$83.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5114	+0.033%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5104	−0.030%	$535.2M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5096	−0.086%	$340.6M	$924.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5098	−0.073%	$124.5M	$861.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5118	+0.060%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5114	+0.033%	$114K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5144	+0.232%	$1.6M	$214K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5104	−0.033%	$367.0M	$149.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5107	−0.013%	$293.2M	$889.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5105	−0.030%	$106.5M	$170.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5104	−0.033%	$266.5M	$379.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5107	−0.013%	—	$126.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5125	+0.105%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5125	+0.108%	$657K	$109.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5132	+0.151%	$1.1M	$36.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5131	+0.146%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5113	+0.027%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5115	+0.040%	$41K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5107	−0.011%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5110	+0.009%	$813K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5118	+0.060%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5108	−0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5106	−0.020%	$49.5M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5103	−0.040%	$53.8M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5117	+0.052%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5104	−0.034%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5107	−0.017%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0147%	1h	1.5110	+0.007%	$7.7M	$25.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5106	−0.018%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0216%	1h	1.5109	long leg	$5.7M	$46.2M	50x
Backpack XRP_USDC_PERPshort	+0.0267%	1h	1.5132	+0.152%	$1.9M	$1.3M	25x
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5104	−0.032%	$14.5M	$72.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5110	+0.009%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5123	+0.093%	$2.1M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5117	+0.056%	$526K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0755%	1h	1.5126	+0.114%	$2K	$14K	10x	as long as short