Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0067%/8hpaid last 24h −0.019%

Price spread now: Injective against KuCoin−6.159%85s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.162%+$16 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 6.159% cheaper against KuCoin than usual: you would sell low and buy high (−$616 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.162%, so the current rate has only just turned against you. 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	KuCoin XRPUSDTM	1.5015	0.0100	pay 0.0100% / 8h	4h 22m	$111.0M	$137.4M	75x
Short	Injective XRP/USDC PERP	1.4090	0.0033	get 0.0004% / 1h	22m 02s	$2K	$33K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −6.159%Rate

Funding earned: −$14
Price spread: −6.159% → 0.000%: −$615.93
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$641.95
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 11 min ago; Injective: no order-book sample. Net counts fees only.

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, 11 min ago	0.03 bp	8.4 bp −$8	11.4 bp −$114	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
GMX XRP/USD [ETH-USDC]	L −0.0208% / S +0.0294%	1h	1.5024	+0.062%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5050	+0.234%	$6K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5050	+0.232%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5026	+0.075%	$8.7M	$22.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5025	+0.065%	$242K	—	150x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.4090	−6.159%	$2K	$33K	30x
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5016	+0.008%	$178K	$779K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5021	+0.041%	$2.9M	$10.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5022	+0.048%	$577K	$2.4M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5037	+0.148%	$12K	$243K	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	1.5031	+0.111%	$1.0M	$5.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5022	+0.045%	$38.2M	$68.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5045	+0.202%	$664K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5011	−0.025%	$530.7M	$1.74B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5014	−0.005%	$339.4M	$782.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5013	−0.012%	$125.3M	$787.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5037	+0.148%	$558K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5044	+0.194%	$111K	$611K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5016	+0.008%	$349.3M	$127.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5012	−0.019%	$310.4M	$760.7M	300x	as long as short
KuCoin XRPUSDTMlong	+0.0100%	8h	1.5015	long leg	$111.0M	$137.4M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5011	−0.025%	$258.9M	$320.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5017	+0.015%	—	$104.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5003	−0.076%	$6.9M	$20.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5045	+0.199%	$654K	$88.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5081	+0.443%	$1.1M	$40.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5057	+0.281%	$1.0M	$790K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5031	+0.107%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5031	+0.108%	$60K	$431K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5022	+0.049%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5021	+0.040%	$809K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5025	+0.070%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5020	+0.035%	$32K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5011	−0.028%	$49.5M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5021	+0.041%	$54.0M	$26.9M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5047	+0.214%	$1.6M	$139K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5044	+0.197%	$469K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5013	−0.012%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5018	+0.025%	$72K	$39K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5042	+0.181%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0164%	8h	1.5066	+0.341%	$1.7M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0195%	1h	1.5027	+0.081%	$1.7M	$912K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0208%	1h	1.5033	+0.121%	$5.2M	$39.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0209%	1h	1.5026	+0.074%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5049	+0.228%	$23.5M	$59.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5046	+0.205%	$19K	$37K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0265%	1h	1.5022	+0.050%	$15.2M	$55.7M	50x	as long as short
Hyperliquid XRP	+0.0406%	1h	1.5030	+0.101%	$273.5M	$158.8M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5045	+0.202%	$409K	$477K	10x	as long as short
Aftermath Perps XRPUSD	+0.0522%	1h	1.5036	+0.140%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5040	+0.168%	$67K	$89K	15x	as long as short