Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.090%

Price spread now: Binance against Hyperliquid−0.157%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 7 days+0.112%+$11 · spread now −0.157%, 7d avg −0.044%

Together, before fees−0.091%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.113% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5520	0.0195	pay 0.0024% / 1h	2m 10s	$299.6M	$265.8M	20x
Short	Binance XRPUSDT	1.5496	0.0100	get 0.0100% / 8h	7h 02m	$541.7M	$2.12B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.157%Rate

Funding earned: −$19.96
Price spread: −0.157% → −0.044%: −$11.3
Slippage, 4 orders: −$1.33
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$51.6
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 min ago; Binance: live order book, 12 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 Hyperliquid live order book, 12 min ago	0.33 bp	4.9 bp −$5	7.1 bp −$71	12.4 bp −$1,238	doesn't fit
Sell Binance live order book, 12 min ago	0.33 bp	5.3 bp −$5	5.6 bp −$56	9.0 bp −$905	28.0 bp −$14.0K

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
Kraken Futures PF_XRPUSD	−0.0168%	1h	1.5502	−0.119%	$14.2M	$73.6M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5524	+0.026%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	−0.193%	$70K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5504	−0.103%	$8.0M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5500	−0.130%	$252K	—	150x	as long as short
dYdX XRP-USD	+0.0005%	1h	1.5513	−0.048%	$1.1M	$155K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.258%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0056%	1h	1.5535	+0.100%	$18K	$78K	7x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5502	−0.116%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5499	−0.136%	$2.8M	$14.8M	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	1.5505	−0.097%	$628K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5508	−0.077%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5518	−0.012%	$484K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5505	−0.093%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5499	−0.136%	$39.2M	$82.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5516	−0.028%	$628K	$1.0M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5496	−0.157%	$541.7M	$2.12B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5503	−0.110%	$359.9M	$908.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5499	−0.135%	$126.1M	$850.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5449	−0.457%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5516	−0.026%	$162K	$698K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.566%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5506	−0.090%	$389.4M	$160.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5498	−0.142%	$313.2M	$943.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5504	−0.102%	$110.0M	$180.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5501	−0.122%	$274.7M	$361.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5498	−0.142%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5506	−0.091%	$4.9M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5483	−0.239%	$674K	$113.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5525	+0.033%	$1.1M	$32.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5485	−0.226%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5513	−0.048%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5507	−0.084%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5507	−0.084%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5503	−0.110%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5503	−0.108%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5498	−0.142%	$31K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5492	−0.182%	$50.6M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5497	−0.148%	$55.1M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5494	−0.165%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5500	−0.129%	$60K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0143% / S −0.0109%	1h	1.5498	−0.144%	$831K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5502	−0.116%	$5.3M	$46.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5517	−0.019%	$1.8M	$33.0M	2.9x	as long as short
Hyperliquid XRPlong	+0.0195%	1h	1.5520	long leg	$299.6M	$265.8M	20x
BloFin XRP-USDT	+0.0220%	8h	1.5528	+0.052%	$23.9M	$79.2M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5495	−0.161%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0240%	1h	1.5535	+0.097%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5535	+0.095%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0478%	1h	1.5471	−0.319%	$3K	$15K	10x	as long as short