Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: KuCoin against Injective−2.627%85s7-day average +0.147% · you buy dearer than you sell

Net, funding: paid 7d − costs−$128as 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−$1111.111% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$17 on $10k

Price spread, last 4 days (all we have)+3.368%+$337 · spread now −2.627%, 7d avg +0.147%

Together, before fees+3.203%+$320 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 2.774% cheaper against Injective than usual: you would sell low and buy high (spread −2.627% now, against its 7-day average of +0.147%). If the spread goes back, that is −$277 on $10k: about 5 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.165%, so the current rate has only just turned in your favour. The two prices were read 85 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	13m 54s	$2K	$107K	30x
Short	KuCoin XRPUSDTM	1.5151	0.0100	get 0.0100% / 8h	3h 13m	$109.2M	$178.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −2.627%Rate

Funding earned: $14
Price spread: −2.627% → +0.147%: −$277.39
Slippage, 4 orders: −$99.09
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$374.5
Costs to cover: 1.111%
Break-even: 194.2 days

Slippage from Injective: live order book, 40 min ago; KuCoin: 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, 40 min ago	46.05 bp	46.1 bp −$46	59.2 bp −$592	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.53 bp	10.0 bp −$10	12.2 bp −$122	doesn't fit	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	1.5160	−2.571%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5149	−2.640%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5144	−2.674%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5148	−2.648%	$7.7M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5146	−2.660%	$14.4M	$74.6M	50x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5144	−2.674%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5149	−2.639%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5151	−2.629%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5150	−2.635%	$9K	$351K	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	1.5148	−2.645%	$975K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5149	−2.639%	$39.0M	$85.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5151	−2.630%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5149	−2.640%	$534.0M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5148	−2.648%	$344.4M	$945.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5150	−2.635%	$125.8M	$884.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5148	−2.648%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5155	−2.603%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	−2.542%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5152	−2.622%	$372.1M	$157.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5150	−2.635%	$298.1M	$907.4M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5151	−2.627%	$109.2M	$178.1M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5148	−2.648%	$269.0M	$390.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5147	−2.654%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	−2.630%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5166	−2.529%	$659K	$110.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5154	−2.607%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5169	−2.513%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	−2.630%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5152	−2.622%	$45K	$479K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5147	−2.654%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5145	−2.667%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5145	−2.664%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5152	−2.621%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5145	−2.667%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5152	−2.621%	$49.5M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5148	−2.648%	$53.9M	$31.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5147	−2.656%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5146	−2.659%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5143	−2.677%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5156	−2.596%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5153	−2.616%	$5.7M	$48.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5148	−2.646%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5156	−2.596%	$24.2M	$75.7M	125x	as long as short
Kalshi KXXRPPERP	+0.0233%	8h	1.5156	−2.596%	$1.9M	$35.3M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0249%	1h	1.5156	−2.596%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5163	−2.551%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5154	−2.611%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0404%	1h	1.5165	−2.539%	$297.8M	$251.6M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	−2.571%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0648%	1h	1.5166	−2.534%	$2K	$15K	10x	as long as short