Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: Aster against Injective−2.669%57s7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$116as 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−$1001.002% of the position

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.163%−$16 on $10k

Price spread, last 4 days (all we have)+3.983%+$398 · spread now −2.669%, 7d avg +0.014%

Together, before fees+3.820%+ Points / potential airdropAster: Stage 5 · farm board+$382 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 2.683% cheaper against Injective than usual: you would sell low and buy high (spread −2.669% now, against its 7-day average of +0.014%). If the spread goes back, that is −$268 on $10k: about 4 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.163%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XRP/USDC PERP	1.5560	0.0033	pay 0.0004% / 1h	30m 29s	$2K	$107K	30x
Short	Aster XRPUSDT	1.5145	0.0100	get 0.0100% / 8h	7h 30m	$38.5M	$84.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −2.669%Rate

Funding earned: $14
Price spread: −2.669% → +0.014%: −$268.26
Slippage, 4 orders: −$92.17
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$354.45
Costs to cover: 1.002%
Break-even: 184.2 days

Slippage from Injective: live order book, 3 min ago; Aster: 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 Injective live order book, 3 min ago	36.22 bp	36.2 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.33 bp	4.3 bp −$4	4.8 bp −$48	19.4 bp −$1,936	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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5146	−2.660%	$14.7M	$74.5M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5145	−2.667%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−2.506%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5142	−2.685%	$246K	—	150x	as long as short
dYdX XRP-USD	+0.0010%	1h	1.5149	−2.641%	$1.1M	$158K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5148	−2.648%	$7.7M	$23.5M	50x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Hibachi XRP/USDT-P	+0.0072%	1h	1.5143	−2.683%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5146	−2.662%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5150	−2.635%	$617K	$3.1M	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	+0.0100%	8h	1.5141	−2.693%	$20K	$381K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5145	−2.664%	$990K	$6.2M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5145	−2.669%	$38.5M	$84.3M	100x
Pacifica XRP	+0.0100%	1h	1.5146	−2.662%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5147	−2.654%	$528.0M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5143	−2.680%	$352.6M	$939.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5145	−2.667%	$125.8M	$848.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5150	−2.635%	$556K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5152	−2.622%	$143K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−2.307%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5145	−2.667%	$377.0M	$153.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5146	−2.661%	$312.3M	$917.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5146	−2.658%	$105.8M	$183.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5143	−2.680%	$267.8M	$380.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5142	−2.686%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5142	−2.686%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5161	−2.563%	$659K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5198	−2.326%	$1.1M	$33.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5155	−2.603%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5152	−2.625%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5149	−2.641%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5149	−2.641%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5147	−2.654%	$77K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5145	−2.670%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5152	−2.622%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5144	−2.674%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5146	−2.663%	$49.4M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5151	−2.629%	$54.0M	$32.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5149	−2.641%	$472K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5139	−2.704%	$2.1M	$6.7M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5146	−2.661%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5144	−2.675%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0119% / S −0.0085%	1h	1.5145	−2.670%	$785K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5150	−2.635%	$5.3M	$47.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5155	−2.603%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRP	+0.0179%	1h	1.5160	−2.574%	$289.8M	$267.9M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5156	−2.596%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5144	−2.674%	$23.7M	$77.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5141	−2.691%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5150	−2.636%	$519K	$788K	10x	as long as short
Aftermath Perps XRPUSD	+0.0559%	1h	1.5176	−2.466%	$2K	$16K	10x	as long as short