Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0053%/8h= −5.8% APRpaid last 24h −0.018%

Price spread now: Deribit against Orderly+0.020%7-day average +0.031% · you sell dearer than you buy

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

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.155%+$16 on $10k

Price spread, last 3 days (all we have)+0.012%+$1 · spread now +0.020%, 7d avg +0.031%

Together, before fees+0.167%+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.155%, 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	Orderly PERP_XRP_USDC	1.5253	0.0065	pay 0.0065% / 8h	7h 02m	$57K	$935K	50x
Short	Deribit XRP_USDC-PERPETUAL	1.5256	0.0012	get 0.0002% / 1h	2m 30s	$9.2M	$24.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$11.08
Price spread: +0.020% → +0.031%: −$1.16
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.24
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 2 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 2 min ago	0.98 bp	4.5 bp −$4	21.6 bp −$216	235.9 bp −$23.6K	doesn't fit

Orderly: 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5241	−0.079%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5241	−0.082%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5250	−0.022%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0012%	1h	1.5256	+0.020%	$9.2M	$24.9M	50x
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0071%	1h	1.5245	−0.052%	$836K	—	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_USDClong	+0.0065%	8h	1.5253	long leg	$57K	$935K	50x
01 Exchange XRPUSD	+0.0072%	1h	1.5243	−0.066%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5259	+0.042%	$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	−0.105%	$475K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5253	−0.001%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5252	−0.005%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5250	−0.018%	$627K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5252	−0.007%	$538.8M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5242	−0.072%	$340.2M	$921.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5241	−0.079%	$122.9M	$864.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.249%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5235	−0.118%	$114K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.634%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5235	−0.118%	$366.5M	$153.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5242	−0.072%	$300.1M	$917.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5255	+0.012%	$110.4M	$167.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5241	−0.079%	$267.4M	$376.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5236	−0.111%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.404%	$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	+0.490%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5318	+0.426%	$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	1.5256	+0.022%	$821K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5263	+0.063%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5253	0.000%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5251	−0.013%	$50.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5240	−0.085%	$54.1M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5229	−0.155%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5256	+0.020%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5242	−0.071%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−0.138%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5251	−0.013%	$5.7M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0245%	1h	1.5246	−0.046%	$14.4M	$70.3M	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	+0.409%	$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	+0.0857%	1h	1.5325	+0.473%	$2K	$13K	10x	as long as short