Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.041%

Price spread now: BloFin against Derive+0.096%115s7-day average +0.010% · you sell dearer than you buy

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

Long on Derive Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 3 days (all we have)−0.109%−$11 · spread now +0.096%, 7d avg +0.010%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.086% dearer against Derive than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.010%. The two prices were read 115 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	Derive XRP-PERP	1.5195	0.0100	pay 0.0013% / 1h	31m 26s	$818K	$67K	10x
Short	BloFin XRP-USDT	1.5210	0.0220	get 0.0220% / 8h	3h 31m	$23.4M	$61.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.096%Rate

Funding earned: $25.2
Price spread: +0.096% → +0.010%: $8.6
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee BloFin: 6 bp × 2 orders: −$12
Net: $15.8
Costs to cover: 0.180%
Break-even: 2.6 days

Slippage unknown: Derive: no order-book sample; BloFin: live order book, 3 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 BloFin live order book, 3 min ago	0.33 bp	6.3 bp −$6	8.2 bp −$82	13.6 bp −$1,360	23.9 bp −$11.9K

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 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
GMX XRP/USD [ETH-USDC]	L −0.0207% / S +0.0293%	1h	1.5196	+0.005%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5183	−0.082%	$7K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0013%	1h	1.5195	−0.004%	$15.9M	$59.2M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	−0.051%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.167%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5199	+0.023%	$9.0M	$22.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5199	+0.025%	$257K	—	150x	as long as short
Orderly PERP_XRP_USDC	+0.0045%	8h	1.5191	−0.029%	$180K	$781K	50x	as long as short
Injective XRP/USDC PERP	+0.0050%	1h	1.5090	−0.694%	$2K	$51K	30x	as long as short
Vest XRP-PERP	+0.0072%	1h	1.5191	−0.032%	—	$9K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5186	−0.062%	$2.9M	$10.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5191	−0.029%	$567K	$2.4M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5194	−0.010%	$12K	$241K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5185	−0.065%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5189	−0.041%	$38.6M	$69.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5188	−0.049%	$671K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5197	+0.010%	$539.7M	$1.78B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5199	+0.023%	$343.7M	$798.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5197	+0.010%	$124.3M	$808.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	−0.089%	$565K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5191	−0.029%	$113K	$623K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5194	−0.010%	$354.7M	$127.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5198	+0.017%	$312.2M	$772.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5195	0.000%	$110.5M	$140.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5198	+0.017%	$263.8M	$327.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5197	+0.010%	—	$3.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5188	−0.051%	$7.4M	$22.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.119%	$659K	$91.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5199	+0.024%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5184	−0.075%	$1.0M	$758K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5196	+0.004%	$50K	$460K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5195	−0.003%	$42K	$61K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5195	long leg	$818K	$67K	10x
SunX XRP-USDT	+0.0100%	8h	1.5190	−0.033%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5198	+0.017%	$28K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	−0.115%	$50.0M	$13.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5189	−0.042%	$54.5M	$27.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5194	−0.010%	$1.6M	$202K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	−0.049%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5187	−0.056%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5196	+0.006%	$73K	$37K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5194	−0.010%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5205	+0.063%	$5.3M	$41.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0193%	1h	1.5198	+0.017%	$1.7M	$895K	25x	as long as short
Kalshi KXXRPPERP	+0.0206%	8h	1.5203	+0.050%	$1.7M	$31.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5195	−0.006%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5210	+0.096%	$23.4M	$61.7M	125x
Hibachi XRP/USDT-P	+0.0264%	1h	1.5191	−0.031%	$19K	$43K	7x	as long as short
RISEx XRP/USDC	+0.0330%	1h	1.5195	−0.004%	$401K	$502K	10x	as long as short
Hyperliquid XRP	+0.0443%	1h	1.5214	+0.122%	$283.5M	$165.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0465%	1h	1.5184	−0.076%	$1K	$10K	10x	as long as short