Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.043%

Price spread now: Paradex against Hibachi+0.211%7-day average — · you sell dearer than you buy

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

Long on Hibachi Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · Paradex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.211% dearer against Hibachi than usual: you sell high and buy low (spread +0.211% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi XRP/USDT-P	1.5130	0.0176	pay 0.0022% / 1h	10m 07s	$17K	$82K	7x
Short	Paradex XRP-USD-PERP	1.5162	0.0100	get 0.0100% / 8h	2h 10m	$473K	$55K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Hibachi. 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 HibachibpFee ParadexbpOrdersPrice spread, now +0.211%Rate

Funding earned: −$15.96
Price spread: +0.211% → 0.000%: $21.07
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$7.89
Costs to cover: 0.130%
Break-even: from the start

Slippage unknown: Hibachi: no order-book sample; Paradex: live order book, 39 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 Hibachi no order-book sample	—	—	—	—	—
Sell Paradex live order book, 39 min ago	4.30 bp	6.3 bp −$6	142.9 bp −$1,429	doesn't fit	doesn't fit

Hibachi: 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	1.5155	+0.165%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5165	+0.228%	$14.2M	$74.6M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5152	+0.143%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	−0.264%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5157	+0.180%	$245K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.842%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0073% / S −0.0017%	1h	1.5157	+0.175%	$799K	—	200x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5156	+0.172%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5166	+0.239%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5165	+0.231%	$548K	$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	+0.0099%	8h	1.5146	+0.106%	$11K	$362K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5151	+0.142%	$984K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5153	+0.154%	$38.5M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5156	+0.174%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	+0.148%	$527.3M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5155	+0.165%	$344.2M	$967.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5155	+0.165%	$126.6M	$887.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5137	+0.046%	$563K	$35K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5162	+0.212%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5132	+0.012%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5159	+0.192%	$372.6M	$161.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5157	+0.178%	$298.2M	$926.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5163	+0.220%	$107.0M	$181.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5156	+0.172%	$266.3M	$398.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5156	+0.172%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	+0.085%	$4.6M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5116	−0.089%	$656K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5088	−0.278%	$1.1M	$37.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5129	−0.007%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5154	+0.160%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5158	+0.185%	$51K	$488K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5155	+0.165%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5162	+0.212%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5164	+0.222%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5169	+0.260%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5165	+0.231%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5158	+0.183%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5152	+0.145%	$54.0M	$32.2M	50x	as long as short
Paradex XRP-USD-PERPshort	+0.0100%	8h	1.5162	+0.211%	$473K	$55K	50x
Extended XRP-USD	+0.0104%	1h	1.5159	+0.193%	$1.9M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5163	+0.218%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0140%	1h	1.5170	+0.264%	$290.3M	$263.1M	20x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0146%	1h	1.5169	+0.258%	$7.8M	$25.4M	50x	as long as short
Hibachi XRP/USDT-Plong	+0.0176%	1h	1.5130	long leg	$17K	$82K	7x
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5169	+0.258%	$5.7M	$48.6M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5168	+0.251%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0213%	8h	1.5161	+0.205%	$1.7M	$35.5M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5152	+0.145%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5145	+0.099%	$23.2M	$77.4M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5160	+0.199%	$517K	$790K	10x	as long as short
Aftermath Perps XRPUSD	+0.0590%	1h	1.5111	−0.125%	$2K	$16K	10x	as long as short