Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.013%

Price spread now: edgeX against Injective−1.929%107s7-day average +0.257% · you buy dearer than you sell

Net, funding: paid 7d − costs−$125as 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−$1000.999% of the position

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.247%−$25 on $10k

Price spread, last 3 days (all we have)+2.374%+$237 · spread now −1.929%, 7d avg +0.257%

Together, before fees+2.127%+ Points / potential airdropedgeX: Active · farm board+$213 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 2.187% cheaper against Injective than usual: you would sell low and buy high (spread −1.929% now, against its 7-day average of +0.257%). If the spread goes back, that is −$219 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 −0.247%, so the current rate has only just turned in your favour. The two prices were read 107 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	1m 32s	$2K	$107K	30x
Short	edgeX XRPUSDC	1.5260	0.0100	get 0.0050% / 4h	3h 01m	$663K	$107.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −1.929%Rate

Funding earned: $14
Price spread: −1.929% → +0.257%: −$218.68
Slippage, 4 orders: −$90.84
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$304.54
Costs to cover: 0.999%
Break-even: 159.3 days

Slippage from Injective: live order book, 7 min ago; edgeX: live order book, 3 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, 7 min ago	22.76 bp	22.8 bp −$23	35.7 bp −$357	doesn't fit	doesn't fit
Sell edgeX live order book, 3 min ago	0.98 bp	5.5 bp −$5	5.5 bp −$55	9.8 bp −$979	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	1.5246	−2.018%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5244	−2.030%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5246	−2.015%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5249	−1.999%	$9.2M	$24.5M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0071%	1h	1.5246	−2.017%	$835K	—	200x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5254	−1.967%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5234	−2.095%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5250	−1.992%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5258	−1.941%	$509K	$3.3M	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	1.5227	−2.140%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5241	−2.051%	$475K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5253	−1.974%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5243	−2.040%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5251	−1.988%	$627K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5231	−2.116%	$537.1M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5222	−2.172%	$339.8M	$920.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5238	−2.069%	$123.1M	$864.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−2.217%	$567K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5240	−2.057%	$115K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	−1.352%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5237	−2.076%	$367.0M	$153.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5240	−2.057%	$302.2M	$918.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5253	−1.973%	$110.5M	$167.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5233	−2.102%	$267.1M	$376.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5233	−2.102%	—	$125.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	−1.577%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5260	−1.929%	$663K	$107.0M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	−1.492%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	−1.979%	$1.2M	$999K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5247	−2.010%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5249	−1.999%	$45K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5250	−1.990%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5257	−1.945%	$821K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5256	−1.951%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	−2.037%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5240	−2.057%	$50.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5251	−1.986%	$54.1M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5229	−2.128%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5253	−1.972%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5242	−2.043%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−2.108%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5248	−2.005%	$5.7M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0245%	1h	1.5242	−2.042%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5254	−1.967%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5315	−1.572%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5257	−1.947%	$2.0M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0361%	1h	1.5264	−1.902%	$287.5M	$215.8M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	−1.478%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5236	−2.082%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0851%	1h	1.5311	−1.600%	$2K	$13K	10x	as long as short