Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: Binance against Injective−0.154%87s7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as 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−$1011.006% of the position

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.176%−$18 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.154% cheaper against Injective than usual: you would sell low and buy high (spread −0.154% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 7.7 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.176%, so the current rate has only just turned in your favour. The two prices were read 87 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	3m 56s	$2K	$107K	30x
Short	Binance XRPUSDT	1.5536	0.0100	get 0.0100% / 8h	1h 03m	$559.0M	$1.99B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.154%Rate

Funding earned: $14
Price spread: −0.154% → 0.000%: −$15.36
Slippage, 4 orders: −$90.62
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$102
Costs to cover: 1.006%
Break-even: 58.0 days

Slippage from Injective: live order book, 15 min ago; Binance: live order book, 10 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, 15 min ago	44.99 bp	45.0 bp −$45	57.6 bp −$576	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	0.32 bp	5.3 bp −$5	6.4 bp −$64	11.4 bp −$1,144	25.2 bp −$12.6K

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	1.5539	−0.135%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5532	−0.181%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5541	−0.122%	$9.6M	$25.2M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0001% / S +0.0112%	1h	1.5539	−0.132%	$854K	—	200x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5539	−0.134%	$260K	—	150x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5538	−0.139%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5538	−0.141%	$76K	$909K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5540	−0.131%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5544	−0.103%	$444K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5537	−0.145%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5544	−0.102%	$39.5M	$79.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5536	−0.151%	$640K	$1.1M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5536	−0.154%	$559.0M	$1.99B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5537	−0.148%	$346.3M	$904.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5536	−0.154%	$127.7M	$883.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5500	−0.386%	$576K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5536	−0.154%	$119K	$746K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	−0.377%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5536	−0.154%	$372.1M	$144.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5536	−0.154%	$301.1M	$869.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5543	−0.107%	$113.4M	$161.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5537	−0.148%	$271.2M	$366.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5536	−0.154%	—	$119.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5512	−0.306%	$11.5M	$30.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5481	−0.509%	$672K	$102.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5513	−0.301%	$1.1M	$41.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5496	−0.411%	$1.0M	$885K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5540	−0.129%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5539	−0.136%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5541	−0.121%	$837K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5542	−0.118%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5538	−0.141%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5540	−0.127%	$51.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5539	−0.135%	$55.3M	$29.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5530	−0.193%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5531	−0.189%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5533	−0.174%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5539	−0.132%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5537	−0.149%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5537	−0.148%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5538	−0.144%	$1.4M	$8K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5548	−0.077%	$6.0M	$47.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5516	−0.283%	$24.5M	$73.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5511	−0.312%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0298%	1h	1.5547	−0.084%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5546	−0.090%	$2.0M	$33.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5520	−0.257%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5545	−0.095%	$509K	$630K	10x	as long as short
Hyperliquid XRP	+0.0581%	1h	1.5555	−0.032%	$292.0M	$205.8M	20x	as long as short
Aftermath Perps XRPUSD	+0.0775%	1h	1.5521	−0.254%	$1K	$11K	10x	as long as short