Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.026%

Price spread now: Bitget against Deribit−0.244%58s7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as 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−$240.240% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 3 days (all we have)+0.253%+$25 · spread now −0.244%, 7d avg −0.025%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.220% cheaper against Deribit than usual: you would sell low and buy high (spread −0.244% now, against its 7-day average of −0.025%). If the spread goes back, that is −$22 on $10k: about 37 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.106%, so the current rate has only just turned in your favour. 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	Deribit XRP_USDC-PERPETUAL	1.5139	0.0080	pay 0.0010% / 1h	42m 25s	$9.0M	$25.0M	50x
Short	Bitget XRPUSDT	1.5102	0.0100	get 0.0100% / 8h	6h 42m	$264.0M	$384.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Deribit. 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 DeribitbpFee BitgetbpOrdersPrice spread, now −0.244%Rate

Funding earned: $4.2
Price spread: −0.244% → −0.025%: −$21.96
Slippage, 4 orders: −$5.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$41.78
Costs to cover: 0.240%
Break-even: 76.6 days

Slippage from Deribit: live order book, 2 min ago; Bitget: 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 Deribit live order book, 2 min ago	0.99 bp	5.1 bp −$5	7.4 bp −$74	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.33 bp	7.5 bp −$7	9.5 bp −$95	13.1 bp −$1,311	23.7 bp −$11.9K

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	1.5114	−0.165%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5109	−0.198%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.139%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5101	−0.249%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0064%	1h	1.5100	−0.260%	$828K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.781%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5135	−0.025%	$14.6M	$72.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0069%	8h	1.5109	−0.198%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0080%	1h	1.5139	long leg	$9.0M	$25.0M	50x
Lighter XRP	+0.0096%	1h	1.5113	−0.172%	$2.8M	$14.1M	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	1.5115	−0.159%	$517K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5105	−0.225%	$10K	$306K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5117	−0.142%	$880K	$5.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5105	−0.225%	$38.4M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5116	−0.155%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5107	−0.211%	$534.8M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5108	−0.205%	$336.4M	$939.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5108	−0.205%	$123.6M	$869.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5084	−0.363%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5115	−0.159%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.290%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5107	−0.211%	$367.4M	$150.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5102	−0.244%	$290.8M	$900.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5108	−0.203%	$107.9M	$171.7M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5102	−0.244%	$264.0M	$384.3M	125x
BingX XRP-USDT	+0.0100%	8h	1.5104	−0.231%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	+0.107%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5178	+0.259%	$660K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5150	+0.072%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5185	+0.304%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5117	−0.144%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5111	−0.185%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5105	−0.226%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5109	−0.196%	$813K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5155	+0.105%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5139	0.000%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5135	−0.028%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5130	−0.059%	$53.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5113	−0.173%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5102	−0.245%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5105	−0.222%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5110	−0.192%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0173%	1h	1.5119	−0.132%	$279.9M	$223.8M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5108	−0.202%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5145	+0.040%	$5.7M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.357%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5150	+0.070%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0335%	8h	1.5156	+0.112%	$2.1M	$36.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0358%	1h	1.5134	−0.033%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5110	−0.190%	$535K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0803%	1h	1.5154	+0.100%	$2K	$14K	10x	as long as short