Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.009%

Price spread now: SoDEX against Orderly−0.026%7-day average 0.000% · you buy dearer than you sell

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

Long on Orderly Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.026%, 7d avg 0.000%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. SoDEX is 0.026% cheaper against Orderly than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of 0.000%). If the spread goes back, that is −$3 on $10k: about 2.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5312	0.0062	pay 0.0062% / 8h	7h 47m	$75K	$910K	50x
Short	SoDEX XRP-USD	1.5308	0.0100	get 0.0013% / 1h	47m 09s	$29K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $8.08
Price spread: −0.026% → 0.000%: −$2.58
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$8.5
Costs to cover: 0.140%
Break-even: 14.4 days

Slippage unknown: Orderly: no order-book sample; SoDEX: 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 SoDEX live order book, 2 min ago	0.33 bp	4.3 bp −$4	7.1 bp −$71	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	1.5311	−0.007%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5297	−0.097%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5305	−0.046%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0010% / S +0.0085%	1h	1.5301	−0.070%	$839K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.620%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDClong	+0.0062%	8h	1.5312	long leg	$75K	$910K	50x
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5309	−0.020%	$9.3M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5316	+0.024%	$2.8M	$13.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5316	+0.026%	$511K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5300	−0.078%	$11K	$276K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5298	−0.090%	$477K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5297	−0.095%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5311	−0.007%	$38.7M	$83.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5304	−0.052%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5315	+0.018%	$538.1M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5314	+0.013%	$340.5M	$929.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5314	+0.013%	$124.8M	$878.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5292	−0.131%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5302	−0.065%	$116K	$710K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5306	−0.042%	$1.6M	$562K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5313	+0.007%	$372.4M	$148.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5314	+0.013%	$296.9M	$895.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5311	−0.006%	$108.6M	$167.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5315	+0.020%	$268.1M	$376.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5308	−0.026%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5329	+0.112%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5308	−0.029%	$665K	$107.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5305	−0.043%	$1.1M	$39.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5310	−0.013%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5297	−0.097%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5300	−0.078%	$48K	$443K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5305	−0.045%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5313	+0.005%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5312	−0.002%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5308	−0.026%	$29K	$1.8M	10x
HTX XRP-USDT	+0.0100%	8h	1.5310	−0.014%	$50.2M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5316	+0.026%	$54.5M	$29.7M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5303	−0.056%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5303	−0.059%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5306	−0.039%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5296	−0.102%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5311	−0.007%	$24.0M	$74.4M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5314	+0.013%	$5.8M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0241%	1h	1.5323	+0.072%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5308	−0.029%	$14.5M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5295	−0.109%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5313	+0.007%	$2.0M	$35.2M	2.9x	as long as short
Hyperliquid XRP	+0.0419%	1h	1.5327	+0.098%	$290.4M	$216.1M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5320	+0.052%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0799%	1h	1.5332	+0.130%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5303	−0.058%	$506K	$755K	10x	as long as short