Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bybit against Paradex−0.226%7-day average −0.020% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Paradex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.005%−$1 on $10k

Price spread, last 4 days (all we have)+0.186%+$19 · spread now −0.226%, 7d avg −0.020%

Together, before fees+0.181%+ Points / potential airdropParadex: Active · farm board+$18 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: Bybit is 0.206% cheaper against Paradex than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5380	0.0100	pay 0.0100% / 8h	7h 52m	$479K	$54K	50x
Short	Bybit XRPUSDT	1.5345	0.0100	get 0.0100% / 8h	7h 52m	$340.2M	$930.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now −0.226%Rate

Funding earned: $0
Price spread: −0.226% → −0.020%: −$20.58
Slippage, 4 orders: −$11.3
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$46.88
Costs to cover: 0.263%
Break-even: never at this rate

Slippage from Paradex: live order book, 22 min ago; Bybit: 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 Paradex live order book, 22 min ago	4.89 bp	6.9 bp −$7	157.1 bp −$1,571	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.32 bp	6.7 bp −$7	8.1 bp −$81	13.5 bp −$1,349	25.2 bp −$12.6K

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	1.5387	+0.047%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5379	−0.007%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5392	+0.081%	$258K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0009% / S +0.0087%	1h	1.5391	+0.076%	$844K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5354	−0.167%	$9.3M	$25.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.172%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5363	−0.109%	$75K	$910K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5350	−0.191%	$2.9M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5350	−0.193%	$513K	$3.2M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5399	+0.125%	$8K	$8K	10x	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	1.5400	+0.132%	$12K	$271K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5394	+0.096%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5394	+0.093%	$38.9M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5381	+0.007%	$636K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5344	−0.232%	$539.6M	$2.07B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5345	−0.226%	$340.2M	$930.6M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5358	−0.141%	$125.7M	$883.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5377	−0.018%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5392	+0.080%	$116K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	−0.278%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5393	+0.086%	$376.3M	$147.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5392	+0.080%	$300.7M	$892.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5390	+0.070%	$109.5M	$167.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5348	−0.206%	$269.1M	$376.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5390	+0.067%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5388	+0.057%	$6.5M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5360	−0.125%	$669K	$106.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5389	+0.060%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5367	−0.083%	$1.0M	$906K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5395	+0.099%	$48K	$459K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5394	+0.093%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5368	−0.075%	$827K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5386	+0.040%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5348	−0.206%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5389	+0.057%	$50.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5346	−0.219%	$54.6M	$29.8M	50x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5380	long leg	$479K	$54K	50x
Vest XRP-PERP	+0.0100%	1h	1.5387	+0.050%	—	$10K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5351	−0.185%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5349	−0.199%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5390	+0.069%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5387	+0.047%	$23.9M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5360	−0.128%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5343	−0.238%	$14.6M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5392	+0.077%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0309%	1h	1.5400	+0.132%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5398	+0.119%	$2.1M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0505%	1h	1.5405	+0.164%	$292.4M	$215.2M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5400	+0.132%	$69K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0754%	1h	1.5378	−0.012%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5395	+0.099%	$510K	$754K	10x	as long as short