Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: Bitget against Injective−1.433%61s7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$123as 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−$1101.103% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 4 days (all we have)+2.219%+$222 · spread now −1.433%, 7d avg −0.003%

Together, before fees+2.088%+$209 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 1.430% cheaper against Injective than usual: you would sell low and buy high (spread −1.433% now, against its 7-day average of −0.003%). If the spread goes back, that is −$143 on $10k: about 2 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.131%, so the current rate has only just turned in your favour. The two prices were read 61 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	52m 16s	$2K	$107K	30x
Short	Bitget XRPUSDT	1.5337	0.0100	get 0.0100% / 8h	5h 52m	$272.1M	$357.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −1.433%Rate

Funding earned: $14
Price spread: −1.433% → −0.003%: −$143.03
Slippage, 4 orders: −$98.28
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$239.33
Costs to cover: 1.103%
Break-even: 126.7 days

Slippage from Injective: live order book, 59 min ago; Bitget: 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 Injective live order book, 59 min ago	42.39 bp	42.4 bp −$42	51.0 bp −$510	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.32 bp	6.3 bp −$6	7.9 bp −$79	23.3 bp −$2,331	34.2 bp −$17.1K

XRP on 50 exchanges

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	1.5403	−1.009%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5345	−1.384%	$14.1M	$71.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5343	−1.393%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5360	−1.285%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5340	−1.414%	$7.8M	$21.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5357	−1.307%	$246K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5335	−1.446%	$9K	$987	10x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
SoDEX XRP-USD	+0.0060%	1h	1.5359	−1.292%	$30K	$1.5M	10x	as long as short
Ondo Perps XRP-USD.P	+0.0087%	1h	1.5365	−1.253%	$565K	$37K	5x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5346	−1.377%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5347	−1.369%	$599K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5343	−1.395%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5335	−1.446%	$10K	$402K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5332	−1.468%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5348	−1.362%	$299.2M	$266.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5344	−1.388%	$39.4M	$81.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5342	−1.401%	$593K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5344	−1.388%	$535.3M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5346	−1.375%	$362.3M	$889.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5345	−1.382%	$124.8M	$838.3M	100x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5346	−1.375%	$165K	$681K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5379	−1.163%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5337	−1.433%	$382.8M	$155.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5334	−1.452%	$312.5M	$887.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5336	−1.438%	$106.6M	$181.7M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5337	−1.433%	$272.1M	$357.4M	125x
BingX XRP-USDT	+0.0100%	8h	1.5337	−1.433%	—	$101.0M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5365	−1.253%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5375	−1.192%	$5.0M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5375	−1.188%	$668K	$109.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5368	−1.234%	$1.1M	$30.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5372	−1.208%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5342	−1.398%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5335	−1.446%	$52K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5336	−1.442%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5335	−1.446%	$83K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5339	−1.418%	$129K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5341	−1.407%	$50.0M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5346	−1.375%	$54.7M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5332	−1.462%	$2.2M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5332	−1.462%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5343	−1.395%	$5.5M	$44.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5359	−1.292%	$17K	$76K	7x	as long as short
Kalshi KXXRPPERP	+0.0139%	8h	1.5341	−1.407%	$1.9M	$35.0M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0203% / S −0.0551%	1h	1.5345	−1.383%	$805K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5358	−1.298%	$23.9M	$78.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5332	−1.465%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5344	−1.386%	$515K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0430%	1h	1.5375	−1.192%	$3K	$13K	10x	as long as short