Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0386%/8h= +42.2% APRpaid last 24h +0.125%

Price spread now: RISEx against Orderly+0.132%7-day average +0.056% · you sell dearer than you buy

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

Long on Orderly Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.326%+$33 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now +0.132%, 7d avg +0.056%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and RISEx is 0.077% dearer against Orderly than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.056%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5133	0.0071	pay 0.0071% / 8h	6h 34m	$58K	$949K	50x
Short	RISEx XRP/USDC	1.5153	0.0456	get 0.0057% / 1h	34m 40s	$537K	$783K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.132%Rate

Funding earned: $81.02
Price spread: +0.132% → +0.056%: $7.66
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee RISEx: 3 bp × 2 orders: −$6
Net: $76.69
Costs to cover: 0.120%
Break-even: 0.4 days

Slippage unknown: Orderly: no order-book sample; RISEx: live order book, 34 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 RISEx live order book, 34 min ago	1.01 bp	4.0 bp −$4	11.1 bp −$111	doesn't fit	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	1.5135	+0.013%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5143	+0.064%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5100	−0.218%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5123	−0.064%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0062%	1h	1.5122	−0.075%	$801K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.822%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5127	−0.040%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDClong	+0.0071%	8h	1.5133	long leg	$58K	$949K	50x
Lighter XRP	+0.0096%	1h	1.5148	+0.097%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5147	+0.093%	$517K	$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	1.5137	+0.026%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5136	+0.023%	$806K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5139	+0.040%	$38.5M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5147	+0.093%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5146	+0.084%	$537.9M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5143	+0.066%	$340.4M	$942.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5147	+0.093%	$123.8M	$872.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5069	−0.423%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5152	+0.126%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5101	−0.212%	$1.6M	$307K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5144	+0.073%	$367.0M	$151.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5145	+0.079%	$291.3M	$908.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5144	+0.075%	$106.7M	$171.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5143	+0.066%	$265.9M	$385.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5153	+0.132%	—	$127.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5126	−0.045%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5093	−0.264%	$655K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5084	−0.326%	$1.1M	$38.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5107	−0.172%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5133	+0.003%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5135	+0.013%	$45K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5132	−0.008%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5135	+0.011%	$814K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5143	+0.066%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5132	−0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5130	−0.022%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5131	−0.013%	$53.8M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5147	+0.090%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5144	+0.070%	$2.0M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5130	−0.023%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5136	+0.020%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0210%	1h	1.5156	+0.152%	$281.0M	$221.9M	20x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0213%	1h	1.5134	+0.007%	$7.6M	$25.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5131	−0.011%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5134	+0.007%	$5.7M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.396%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5094	−0.259%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0342%	8h	1.5137	+0.026%	$2.1M	$36.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0344%	1h	1.5144	+0.073%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDCshort	+0.0456%	1h	1.5153	+0.132%	$537K	$783K	10x
Aftermath Perps XRPUSD	+0.0799%	1h	1.5121	−0.079%	$2K	$14K	10x	as long as short