Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: BingX against dYdX−0.123%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$660.660% of the position

Long on dYdX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.123%, 7d avg −0.016%

Together, before fees+0.279%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. BingX is 0.106% cheaper against dYdX than usual: you would sell low and buy high (spread −0.123% now, against its 7-day average of −0.016%). If the spread goes back, that is −$11 on $10k: about 3.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5152	0	get 0.0000% / 1h	18m 27s	$1.1M	$110K	10x
Short	BingX XRP-USDC	1.5133	0.0100	get 0.0100% / 8h	6h 18m	—	$4.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against dYdX. 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 dYdXbpFee BingXbpOrdersPrice spread, now −0.123%Rate

Funding earned: $21
Price spread: −0.123% → −0.016%: −$10.62
Slippage, 4 orders: −$45.98
Fee dYdX: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$55.6
Costs to cover: 0.660%
Break-even: 25.5 days

Slippage from dYdX: live order book, 1 min ago; BingX: 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 dYdX live order book, 1 min ago	18.17 bp	24.8 bp −$25	32.3 bp −$323	49.3 bp −$4,935	91.2 bp −$45.6K
Sell BingX live order book, 2 min ago	0.66 bp	9.4 bp −$9	13.0 bp −$130	26.9 bp −$2,690	81.1 bp −$40.5K

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	1.5146	−0.037%	$5K	$3K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5152	long leg	$1.1M	$110K	10x
Phoenix XRP	0.0000%	1h	1.5170	+0.122%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5143	−0.059%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0022% / S +0.0057%	1h	1.5141	−0.072%	$800K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.696%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5143	−0.054%	$14.5M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5139	−0.083%	$62K	$953K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5146	−0.037%	$7.6M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5158	+0.041%	$2.8M	$14.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5157	+0.036%	$511K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5124	−0.182%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5137	−0.093%	$934K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5141	−0.071%	$38.5M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5156	+0.028%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5146	−0.040%	$537.2M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5143	−0.057%	$340.9M	$940.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5143	−0.057%	$124.2M	$871.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5130	−0.142%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5139	−0.083%	$114K	$701K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	+0.250%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5143	−0.057%	$368.4M	$152.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5143	−0.057%	$289.6M	$915.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5135	−0.106%	$106.9M	$171.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5141	−0.070%	$266.7M	$384.4M	125x	as long as short
BingX XRP-USDCshort	+0.0100%	8h	1.5133	−0.123%	—	$4.1M	—
Variational Omni XRP	+0.0100%	8h	1.5151	−0.006%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5154	+0.014%	$658K	$109.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5186	+0.227%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5155	+0.023%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5141	−0.073%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5136	−0.103%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5144	−0.049%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5142	−0.061%	$815K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5151	−0.003%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5143	−0.057%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5139	−0.084%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5144	−0.050%	$53.8M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5156	+0.031%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5130	−0.146%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5139	−0.083%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5131	−0.136%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0192%	1h	1.5145	−0.043%	$280.3M	$222.0M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5133	−0.125%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5149	−0.017%	$5.7M	$46.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5132	−0.129%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0342%	1h	1.5156	+0.029%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0361%	8h	1.5140	−0.076%	$2.1M	$35.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5134	−0.119%	$529K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0756%	1h	1.5153	+0.011%	$2K	$14K	10x	as long as short