Funding you earn now, next payment 23:00 UTC−0.0365%/8h= −39.9% APRnext payment −$0.46 per $10,000 · paid last 24h −0.050%
Price spread now: Coinbase International against Hyperliquid+0.026%49s7-day average −0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.258% of the position
Funding, last 7 days−0.115%−$11 on $10k
+Price spread, last 3 days (all we have)−0.124%−$12 · spread now +0.026%, 7d avg −0.040%
=Together, before fees−0.239%+ Points / potential airdropHyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.066% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.040%): +$7 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.115% in total) that is about 4.0 days. The two prices were read 49 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.115% in total (about -6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.46 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid XRP | 1.5378 | 0.0589 | pay 0.0074% / 1h | 24m 28s | $292.5M | $212.2M | 20x |
| Short | Coinbase International XRP-PERP-INTX | 1.5382 | 0.0224 | get 0.0028% / 1h | 24m 28s | $5.8M | $47.3M | 50x |
Hyperliquid XRP
Coinbase International XRP-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$76.55
- Price spread: +0.026% → −0.040%
- $6.62
- Slippage, 4 orders
- −$6.83
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$95.76
- Costs to cover
- 0.258%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; Coinbase International: live order book, 5 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, 10 min ago | 0.32 bp | 4.9 bp −$5 | 7.8 bp −$78 | doesn't fit | doesn't fit |
| Sell Coinbase International live order book, 5 min ago | 0.97 bp | 8.2 bp −$8 | 11.3 bp −$113 | 25.3 bp −$2,535 | doesn't fit |
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 | 1.5356 | −0.143% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5357 | −0.139% | $1.1M | $113K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5420 | +0.273% | $69K | $90K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5358 | −0.128% | $266K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0006% / S +0.0098% | 1h | 1.5358 | −0.129% | $830K | — | 200x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0032% | 1h | 1.5373 | −0.032% | $15.0M | $69.7M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0058% | 8h | 1.5374 | −0.026% | $75K | $910K | 50x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0075% | 1h | 1.5376 | −0.013% | $9.4M | $25.6M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0089% | 1h | 1.5560 | +1.184% | $2K | $107K | 30x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5364 | −0.091% | $2.9M | $12.9M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Deribit XRP_USDC-PERPETUAL
Injective XRP/USDC PERP
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5360 | −0.117% | $438K | $3.2M | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5353 | −0.159% | $1.1M | $5.5M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5355 | −0.152% | $39.1M | $81.3M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5356 | −0.143% | $632K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5359 | −0.124% | $546.9M | $2.04B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5359 | −0.124% | $341.5M | $924.2M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5358 | −0.130% | $125.2M | $879.8M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5345 | −0.215% | $573K | $41K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5361 | −0.111% | $116K | $757K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5410 | +0.208% | $1.7M | $572K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5354 | −0.156% | $360.7M | $147.6M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5368 | −0.065% | $291.6M | $884.6M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5354 | −0.155% | $109.8M | $165.3M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5358 | −0.130% | $267.2M | $374.7M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5356 | −0.143% | — | $121.6M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5385 | +0.044% | $11.4M | $30.6M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5405 | +0.174% | $669K | $104.5M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5403 | +0.162% | $1.1M | $40.4M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5406 | +0.182% | $1.0M | $900K | 50x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5362 | −0.104% | $47K | $455K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5363 | −0.101% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5374 | −0.026% | $828K | $81K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5369 | −0.056% | $129K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5375 | −0.020% | $31K | $1.8M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5371 | −0.044% | $50.5M | $15.5M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5372 | −0.039% | $54.7M | $29.4M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5355 | −0.147% | $479K | $54K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5362 | −0.104% | — | $10K | 10x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5359 | −0.124% | $12K | $268K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5352 | −0.167% | $2.1M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5372 | −0.041% | $72K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0168% | 1h | 1.5363 | −0.098% | $8K | $8K | 10x | as long as short |
| Reya XRPRUSDPERP | +0.0212% | 1h | 1.5359 | −0.126% | $1.4M | $8K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5370 | −0.052% | $24.3M | $74.6M | 125x | as long as short |
| Coinbase International XRP-PERP-INTXshort | +0.0224% | 1h | 1.5382 | +0.026% | $5.8M | $47.3M | 50x | |
| Backpack XRP_USDC_PERP | +0.0259% | 1h | 1.5372 | −0.039% | $1.7M | $1.0M | 25x | as long as short |
| Hibachi XRP/USDT-P | +0.0264% | 1h | 1.5383 | +0.034% | $18K | $82K | 7x | as long as short |
| Kalshi KXXRPPERP | +0.0305% | 8h | 1.5373 | −0.033% | $1.9M | $34.4M | 2.9x | as long as short |
| Hyperliquid XRPlong | +0.0589% | 1h | 1.5378 | long leg | $292.5M | $212.2M | 20x | |
| RISEx XRP/USDC | +0.0761% | 1h | 1.5368 | −0.067% | $499K | $635K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0791% | 1h | 1.5417 | +0.253% | $1K | $11K | 10x | as long as short |
Lighter RH XRP
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Vest XRP-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Reya XRPRUSDPERP
BloFin XRP-USDT
Backpack XRP_USDC_PERP
Hibachi XRP/USDT-P
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD