Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Derive+0.447%7-day average +0.031% · you sell dearer than you buy

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

Long on Derive Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now +0.447%, 7d avg +0.031%

Together, before fees−0.016%−$2 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: Bulk is 0.416% dearer against Derive than usual: you sell high and buy low, +$42 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5155	0.0100	pay 0.0013% / 1h	5m 52s	$815K	$72K	10x
Short	Bulk XRP-USD	1.5223	0.0100	get 0.0013% / 1h	5m 52s	$1.6M	$49K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now +0.447%Rate

Funding earned: $0
Price spread: +0.447% → +0.031%: $41.58
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $28.58
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Derive: no order-book sample; Bulk: 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 Bulk live order book, 3 min ago	0.33 bp	4.0 bp −$4	5.3 bp −$53	9.7 bp −$971	20.0 bp −$9,983

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
Hotstuff XRP-PERP	−0.0080%	1h	1.5161	+0.038%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5167	+0.078%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5157	+0.011%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5156	+0.005%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0037%	1h	1.5156	+0.007%	$832K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.670%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5155	−0.002%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5154	−0.008%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5157	+0.013%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5162	+0.044%	$511K	$3.3M	20x	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	1.5149	−0.041%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5155	+0.001%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5170	+0.097%	$281.8M	$223.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5160	+0.031%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5165	+0.064%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5153	−0.018%	$535.0M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5153	−0.015%	$345.4M	$930.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5157	+0.011%	$125.6M	$871.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5169	+0.091%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5163	+0.051%	$114K	$713K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5223	+0.447%	$1.6M	$49K	20x
Gate XRP_USDT	+0.0100%	8h	1.5155	−0.002%	$368.3M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5155	−0.002%	$297.2M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5157	+0.013%	$108.6M	$172.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5154	−0.008%	$268.8M	$381.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5156	+0.005%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	−0.011%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.225%	$660K	$107.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5183	+0.183%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5189	+0.222%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5162	+0.041%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5157	+0.011%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5159	+0.027%	$41K	$68K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5155	long leg	$815K	$72K	10x
SunX XRP-USDT	+0.0100%	8h	1.5168	+0.084%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5156	+0.005%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5161	+0.039%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5161	+0.038%	$53.9M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5164	+0.060%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5154	−0.011%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5154	−0.011%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5166	+0.071%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5175	+0.129%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5157	+0.011%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5159	+0.025%	$5.6M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	+0.157%	$24.2M	$75.6M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5159	+0.024%	$14.3M	$73.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5171	+0.104%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5160	+0.029%	$516K	$778K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.229%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0654%	1h	1.5193	+0.250%	$2K	$14K	10x	as long as short