Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.023%

Price spread now: Deribit against KuCoin+0.011%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.135%+$13 on $10k

Price spread, last 4 days (all we have)−0.377%−$38 · spread now +0.011%, 7d avg +0.010%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.010%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.135%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XRPUSDTM	1.5351	0.0100	pay 0.0100% / 8h	6h 55m	$109.1M	$180.4M	75x
Short	Deribit XRP_USDC-PERPETUAL	1.5353	0	get 0.0000% / 1h	55m 15s	$7.9M	$22.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against KuCoin. 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 KuCoinbpFee DeribitbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$21
Price spread: +0.011% → +0.010%: $0.06
Slippage, 4 orders: −$14.01
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$53.94
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Deribit: 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 KuCoin live order book, 4 min ago	0.03 bp	7.8 bp −$8	12.6 bp −$126	39.3 bp −$3,930	doesn't fit
Sell Deribit live order book, 4 min ago	0.65 bp	5.6 bp −$6	14.7 bp −$147	436.7 bp −$43.7K	doesn't fit

XRP on 50 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	1.5396	+0.291%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5378	+0.172%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	+0.513%	$69K	$109K	15x	as long as short
Deribit XRP_USDC-PERPETUALshort	0.0000%	1h	1.5353	+0.011%	$7.9M	$22.2M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	+0.829%	$251K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5354	+0.018%	$14.0M	$73.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.359%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0064%	1h	1.5439	+0.572%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5353	+0.010%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5356	+0.031%	$618K	$3.1M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5348	−0.021%	$17K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5373	+0.138%	$479K	$51K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5354	+0.021%	$989K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5350	−0.009%	$39.0M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5379	+0.180%	$608K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5347	−0.030%	$535.4M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5341	−0.067%	$356.2M	$907.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5339	−0.080%	$125.3M	$849.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5434	+0.539%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5356	+0.031%	$166K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5425	+0.477%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5341	−0.067%	$383.2M	$156.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5340	−0.074%	$304.6M	$896.9M	300x	as long as short
KuCoin XRPUSDTMlong	+0.0100%	8h	1.5351	long leg	$109.1M	$180.4M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5340	−0.074%	$271.4M	$362.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5337	−0.093%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5429	+0.509%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5432	+0.527%	$672K	$113.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5452	+0.658%	$1.1M	$32.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5438	+0.565%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5374	+0.147%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5346	−0.035%	$52K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5351	−0.002%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5359	+0.050%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5354	+0.016%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5353	+0.011%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5344	−0.048%	$50.1M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5353	+0.011%	$54.6M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5349	−0.015%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5371	+0.128%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5347	−0.028%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5353	+0.011%	$5.4M	$46.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0126%	1h	1.5346	−0.035%	$2.0M	$1.3M	25x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0145% / S −0.0113%	1h	1.5348	−0.024%	$822K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5371	+0.128%	$1.7M	$32.9M	2.9x	as long as short
Hyperliquid XRP	+0.0200%	1h	1.5353	+0.011%	$295.1M	$268.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5343	−0.054%	$23.8M	$79.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5347	−0.025%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5355	+0.025%	$513K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0496%	1h	1.5446	+0.618%	$3K	$15K	10x	as long as short