Funding you earn now, next payment 10:00 UTC−0.0190%/8h= −20.8% APRnext payment −$0.24 per $10,000 · paid last 24h −0.112%
Price spread now: Deribit against Hyperliquid+0.157%7-day average −0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$31as in the Funding arb table
Net, price: spread back to 7d avg − costs−$4as in the Price arb table
costs, in and out, $10k−$250.249% of the position
Funding, last 7 days−0.061%−$6 on $10k
+Price spread, last 4 days (all we have)−0.864%−$86 · spread now +0.157%, 7d avg −0.048%
=Together, before fees−0.926%+ Points / potential airdropHyperliquid: Season 2 · farm board−$93 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.205% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.157% now, against its 7-day average of −0.048%): +$21 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.6 days. At the pace of the last 7 days (−0.061% in total) that is about 23 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.061% in total (about -3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.24 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 | 1.5329 | 0.0190 | pay 0.0024% / 1h | 54m 46s | $294.5M | $267.5M | 20x |
| Short | Deribit XRP_USDC-PERPETUAL | 1.5353 | 0 | get 0.0000% / 1h | 54m 46s | $7.9M | $22.2M | 50x |
Hyperliquid XRP
Deribit XRP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- −$39.96
- Price spread: +0.157% → −0.048%
- $20.51
- Slippage, 4 orders
- −$8.95
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$44.4
- Costs to cover
- 0.249%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Deribit: live order book, 4 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, 9 min ago | 0.32 bp | 5.4 bp −$5 | 7.3 bp −$73 | 13.2 bp −$1,318 | doesn't fit |
| Sell Deribit live order book, 4 min ago | 0.65 bp | 5.6 bp −$6 | 14.7 bp −$147 | 436.7 bp −$43.7K | doesn't fit |
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 | 1.5396 | +0.437% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5378 | +0.318% | $1.1M | $155K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5430 | +0.659% | $69K | $109K | 15x | as long as short |
| Deribit XRP_USDC-PERPETUALshort | 0.0000% | 1h | 1.5353 | +0.157% | $7.9M | $22.2M | 50x | |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5479 | +0.976% | $251K | — | 150x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0016% | 1h | 1.5354 | +0.164% | $14.0M | $73.4M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +1.507% | $2K | $107K | 30x | as long as short |
| Hibachi XRP/USDT-P | +0.0064% | 1h | 1.5439 | +0.718% | $17K | $78K | 7x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5304 | −0.165% | $2.8M | $14.4M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5356 | +0.176% | $618K | $3.1M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
Kraken Futures PF_XRPUSD
Injective XRP/USDC PERP
Hibachi XRP/USDT-P
Lighter XRP
Lighter RH XRPShow all 50 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5348 | +0.124% | $17K | $378K | 20x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5373 | +0.284% | $479K | $51K | 50x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5354 | +0.166% | $989K | $6.0M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5320 | −0.058% | $38.9M | $83.1M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5379 | +0.325% | $608K | $1.0M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5318 | −0.072% | $534.4M | $2.12B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5316 | −0.085% | $355.6M | $908.3M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5312 | −0.111% | $124.6M | $848.4M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5434 | +0.685% | $567K | $40K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5356 | +0.176% | $166K | $705K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5425 | +0.624% | $1.6M | $13K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5322 | −0.046% | $382.4M | $156.1M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5320 | −0.059% | $304.0M | $897.1M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5323 | −0.038% | $107.9M | $180.4M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5310 | −0.124% | $270.7M | $362.3M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5321 | −0.052% | — | $106.2M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5429 | +0.656% | $4.9M | $38.2M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5432 | +0.673% | $672K | $113.9M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5452 | +0.805% | $1.1M | $32.1M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5438 | +0.711% | $1.2M | $1.2M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5374 | +0.292% | — | $15K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5346 | +0.111% | $52K | $480K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5351 | +0.144% | $41K | $66K | 20x | as long as short |
| Orderly PERP_XRP_USDC | +0.0100% | 8h | 1.5359 | +0.196% | $78K | $623K | 50x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5354 | +0.162% | $129K | $1.6M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5353 | +0.157% | $30K | $1.6M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5344 | +0.097% | $50.1M | $14.7M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5353 | +0.157% | $54.6M | $33.3M | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5328 | −0.007% | $2.1M | $5.9M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5371 | +0.274% | $59K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0112% | 1h | 1.5347 | +0.117% | $9K | $2K | 10x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0120% | 1h | 1.5353 | +0.157% | $5.4M | $46.4M | 50x | as long as short |
| Backpack XRP_USDC_PERP | +0.0126% | 1h | 1.5346 | +0.111% | $2.0M | $1.3M | 25x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0145% / S −0.0113% | 1h | 1.5348 | +0.121% | $822K | — | 200x | as long as short |
| Kalshi KXXRPPERP | +0.0170% | 8h | 1.5371 | +0.274% | $1.7M | $32.9M | 2.9x | as long as short |
| Hyperliquid XRPlong | +0.0190% | 1h | 1.5329 | long leg | $294.5M | $267.5M | 20x | |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5343 | +0.091% | $23.8M | $79.0M | 125x | as long as short |
| Reya XRPRUSDPERP | +0.0222% | 1h | 1.5347 | +0.120% | $1.4M | $4K | 15x | as long as short |
| RISEx XRP/USDC | +0.0272% | 1h | 1.5355 | +0.170% | $513K | $796K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0496% | 1h | 1.5446 | +0.764% | $3K | $15K | 10x | as long as short |
Katana Perps XRP-USD
Paradex XRP-USD-PERP
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
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Orderly PERP_XRP_USDC
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Coinbase International XRP-PERP-INTX
Backpack XRP_USDC_PERP
GMX XRP/USD [ETH-USDC]
Kalshi KXXRPPERP
BloFin XRP-USDT
Reya XRPRUSDPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD