Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bulk against Nado+0.634%7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs+$43as in the Price arb table

costs, in and out, $10k−$230.228% of the position

Long on Nado Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.706%−$71 · spread now +0.634%, 7d avg −0.022%

Together, before fees−0.706%+ Points / potential airdropNado: Active · farm board−$71 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bulk is 0.657% dearer against Nado than usual: you sell high and buy low, +$66 on $10k if it goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XRP-PERP	1.5253	0.0100	pay 0.0012% / 1h	2m 18s	$1.0M	$5.6M	20x
Short	Bulk XRP-USD	1.5350	0.0100	get 0.0013% / 1h	2m 18s	$1.7M	$327K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Nado. 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 NadobpFee BulkbpOrdersPrice spread, now +0.634%Rate

Funding earned: $0
Price spread: +0.634% → −0.022%: $65.67
Slippage, 4 orders: −$8.79
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $42.88
Costs to cover: 0.228%
Break-even: from the start

Slippage from Nado: live order book, 2 min ago; Bulk: live order book, 2 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 Nado live order book, 2 min ago	0.66 bp	7.9 bp −$8	16.4 bp −$164	69.1 bp −$6,914	doesn't fit
Sell Bulk live order book, 2 min ago	0.33 bp	4.0 bp −$4	6.4 bp −$64	14.0 bp −$1,404	26.0 bp −$13.0K

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	1.5241	−0.078%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5241	−0.081%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5246	−0.043%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5249	−0.026%	$9.2M	$24.5M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0071%	1h	1.5246	−0.044%	$835K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.013%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5254	+0.007%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5243	−0.065%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5259	+0.043%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5265	+0.079%	$511K	$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	1.5245	−0.052%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5237	−0.104%	$475K	$55K	50x	as long as short
Nado XRP-PERPlong	+0.0100%	1h	1.5253	long leg	$1.0M	$5.6M	20x
Aster XRPUSDT	+0.0100%	8h	1.5234	−0.124%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5250	−0.017%	$627K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5250	−0.016%	$538.8M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5249	−0.026%	$340.4M	$920.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5255	+0.014%	$123.0M	$865.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.248%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5235	−0.117%	$114K	$712K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5350	+0.634%	$1.7M	$327K	20x
Gate XRP_USDT	+0.0100%	8h	1.5247	−0.039%	$366.8M	$153.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5248	−0.032%	$300.7M	$918.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5249	−0.028%	$110.4M	$167.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5253	+0.001%	$267.6M	$376.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5241	−0.078%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.405%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5348	+0.624%	$666K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.491%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5318	+0.427%	$1.2M	$998K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5247	−0.037%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5249	−0.026%	$45K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5250	−0.017%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5257	+0.029%	$821K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5256	+0.024%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	−0.065%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5240	−0.085%	$50.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5251	−0.012%	$54.1M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5249	−0.026%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5253	+0.002%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5242	−0.070%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−0.137%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5248	−0.032%	$5.7M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0245%	1h	1.5242	−0.070%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5263	+0.066%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5315	+0.410%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0323%	8h	1.5263	+0.066%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0362%	1h	1.5256	+0.020%	$287.3M	$215.8M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	+0.505%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5239	−0.090%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0851%	1h	1.5311	+0.381%	$2K	$13K	10x	as long as short