Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Bitget against Derive−0.060%7-day average −0.002% · you buy dearer than you sell

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

Long on Derive Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.060%−$6 on $10k

Price spread, last 3 days (all we have)+0.138%+$14 · spread now −0.060%, 7d avg −0.002%

Together, before fees+0.078%+$8 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: Bitget is 0.058% cheaper against Derive than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5121	0.0100	pay 0.0013% / 1h	58m 45s	$814K	$75K	10x
Short	Bitget XRPUSDT	1.5112	0.0100	get 0.0100% / 8h	5h 58m	$266.6M	$379.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Derive. 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 DerivebpFee BitgetbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → −0.002%: −$5.82
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$23.82
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Bitget: live order book, 5 min ago. 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 Derive no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.33 bp	6.3 bp −$6	7.7 bp −$77	18.0 bp −$1,805	28.5 bp −$14.2K

Derive: 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 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	−0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5116	−0.033%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	+0.125%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5112	−0.060%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0024% / S +0.0052%	1h	1.5111	−0.064%	$798K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.903%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0074%	8h	1.5118	−0.020%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5113	−0.053%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5114	−0.047%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5116	−0.033%	$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	−0.093%	$9K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5111	−0.063%	$965K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5125	+0.026%	$279.6M	$220.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5120	−0.005%	$38.3M	$83.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5123	+0.013%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5114	−0.047%	$535.6M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5112	−0.060%	$340.9M	$925.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5115	−0.040%	$124.5M	$862.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5118	−0.020%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5121	0.000%	$114K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5144	+0.152%	$1.6M	$214K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5119	−0.013%	$367.2M	$149.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5120	−0.007%	$292.7M	$889.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5120	−0.004%	$106.6M	$170.2M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5112	−0.060%	$266.6M	$379.4M	125x
BingX XRP-USDT	+0.0100%	8h	1.5118	−0.020%	—	$126.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5125	+0.025%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5125	+0.028%	$657K	$109.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5132	+0.071%	$1.1M	$36.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5131	+0.066%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5115	−0.043%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5112	−0.060%	$42K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5112	−0.060%	$41K	$68K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5121	long leg	$814K	$75K	10x
SunX XRP-USDT	+0.0100%	8h	1.5124	+0.020%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5119	−0.013%	$31K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5106	−0.100%	$49.5M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5125	+0.026%	$53.9M	$29.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5115	−0.040%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5116	−0.034%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5116	−0.030%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0147%	1h	1.5123	+0.013%	$7.7M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5108	−0.085%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5124	+0.020%	$5.7M	$46.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0267%	1h	1.5132	+0.072%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5120	−0.009%	$14.5M	$72.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5108	−0.085%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0358%	8h	1.5129	+0.053%	$2.1M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5118	−0.022%	$526K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0759%	1h	1.5129	+0.052%	$2K	$14K	10x	as long as short