Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Derive−0.203%7-day average +0.010% · you buy dearer than you sell

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

Long on Derive Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 4 days (all we have)+0.361%+$36 · spread now −0.203%, 7d avg +0.010%

Together, before fees+0.262%+$26 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: KuCoin is 0.212% cheaper against Derive than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5204	0.0100	pay 0.0013% / 1h	42m 33s	$818K	$72K	10x
Short	KuCoin XRPUSDTM	1.5173	0.0100	get 0.0100% / 8h	3h 42m	$108.8M	$176.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.203%Rate

Funding earned: $0
Price spread: −0.203% → +0.010%: −$21.21
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$39.21
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; KuCoin: live order book, 7 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 KuCoin live order book, 7 min ago	0.03 bp	10.9 bp −$11	13.9 bp −$139	36.7 bp −$3,669	doesn't fit

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	1.5203	−0.004%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5180	−0.154%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5198	−0.037%	$262K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5204	+0.003%	$7.8M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5201	−0.017%	$14.4M	$74.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.344%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0051% / S +0.0014%	1h	1.5200	−0.023%	$780K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5182	−0.144%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5185	−0.122%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5171	−0.214%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0099%	8h	1.5197	−0.043%	$62K	$934K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5170	−0.220%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5181	−0.149%	$38.3M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5181	−0.147%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5168	−0.234%	$532.9M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5167	−0.241%	$345.5M	$942.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5168	−0.234%	$127.0M	$885.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5193	−0.070%	$566K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5172	−0.208%	$118K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	−0.004%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5167	−0.241%	$370.6M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5168	−0.234%	$291.7M	$900.1M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5173	−0.203%	$108.8M	$176.9M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5169	−0.228%	$268.7M	$388.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5166	−0.247%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5202	−0.012%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5212	+0.057%	$661K	$109.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5201	−0.017%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5199	−0.030%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5179	−0.161%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5172	−0.208%	$45K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5168	−0.237%	$41K	$69K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5204	long leg	$818K	$72K	10x
SunX XRP-USDT	+0.0100%	8h	1.5211	+0.051%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5203	−0.004%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5201	−0.015%	$49.7M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5203	−0.004%	$54.2M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5168	−0.234%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5163	−0.265%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5200	−0.025%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5176	−0.182%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5209	+0.036%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5169	−0.226%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5206	+0.016%	$24.1M	$76.1M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5210	+0.041%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0296%	8h	1.5210	+0.042%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5215	+0.075%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0308%	1h	1.5184	−0.129%	$292.1M	$235.1M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5174	−0.196%	$517K	$774K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5210	+0.042%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0664%	1h	1.5212	+0.058%	$2K	$15K	10x	as long as short