Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0163%/8h= −17.8% APRpaid last 24h −0.035%

Price spread now: Orderly against Coinbase International+0.020%7-day average −0.035% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 3 days (all we have)−0.071%−$7 · spread now +0.020%, 7d avg −0.035%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.054% dearer against Coinbase International than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.035%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 27 hours. At the pace of the last 7 days (−0.085% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5360	0.0224	pay 0.0028% / 1h	52m 15s	$5.8M	$46.5M	50x
Short	Orderly PERP_XRP_USDC	1.5363	0.0061	get 0.0061% / 8h	7h 52m	$75K	$910K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.020%Rate

Funding earned: −$34.16
Price spread: +0.020% → −0.035%: $5.4
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$44.76
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 2 min ago; Orderly: no order-book sample. Net counts fees only.

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, 2 min ago	0.65 bp	8.2 bp −$8	10.1 bp −$101	25.6 bp −$2,556	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5387	+0.176%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5379	+0.121%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5392	+0.210%	$258K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0009% / S +0.0087%	1h	1.5391	+0.205%	$844K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5354	−0.039%	$9.3M	$25.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.302%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDCshort	+0.0061%	8h	1.5363	+0.020%	$75K	$910K	50x
Lighter XRP	+0.0096%	1h	1.5350	−0.063%	$2.9M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5350	−0.065%	$513K	$3.2M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5399	+0.254%	$8K	$8K	10x	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	1.5400	+0.260%	$12K	$271K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5394	+0.225%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5394	+0.221%	$38.9M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5381	+0.135%	$636K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5344	−0.104%	$539.6M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5345	−0.098%	$340.2M	$930.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5358	−0.013%	$125.7M	$883.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5377	+0.111%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5392	+0.208%	$116K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	−0.150%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5393	+0.215%	$376.3M	$147.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5392	+0.208%	$300.7M	$892.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5390	+0.198%	$109.5M	$167.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5348	−0.078%	$269.1M	$376.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5390	+0.195%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5388	+0.185%	$6.5M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5360	+0.003%	$669K	$106.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5389	+0.189%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5367	+0.046%	$1.0M	$906K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5395	+0.228%	$48K	$459K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5394	+0.221%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5368	+0.053%	$827K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5386	+0.169%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5348	−0.078%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5389	+0.186%	$50.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5346	−0.091%	$54.6M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5380	+0.128%	$479K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5387	+0.178%	—	$10K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5351	−0.057%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5349	−0.071%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5390	+0.197%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5387	+0.176%	$23.9M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0224%	1h	1.5360	long leg	$5.8M	$46.5M	50x
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5343	−0.111%	$14.6M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5392	+0.205%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0309%	1h	1.5400	+0.260%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5398	+0.247%	$2.1M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0505%	1h	1.5405	+0.293%	$292.4M	$215.2M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5400	+0.260%	$69K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0754%	1h	1.5378	+0.116%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5395	+0.228%	$510K	$754K	10x	as long as short