Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.2% APRpaid last 24h −0.042%

Price spread now: Orderly against Reya+0.022%7-day average +0.007% · you sell dearer than you buy

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

Long on Reya Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.133%−$13 on $10k

Price spread, last 4 days (all we have)−0.069%−$7 · spread now +0.022%, 7d avg +0.007%

Together, before fees−0.202%+ Points / potential airdropReya: Active · farm board−$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.007%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XRPRUSDPERP	1.5189	0.0220	pay 0.0028% / 1h	8m 36s	$1.3M	$4K	15x
Short	Orderly PERP_XRP_USDC	1.5192	0.0100	get 0.0100% / 8h	8m 36s	$77K	$689K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Reya. 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 ReyabpFee OrderlybpOrdersPrice spread, now +0.022%Rate

Funding earned: −$25.28
Price spread: +0.022% → +0.007%: $1.44
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$35.84
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Orderly: no order-book sample. 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 Reya no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Reya and 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	1.5189	+0.002%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5185	−0.023%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5190	+0.008%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5190	+0.008%	$7.7M	$24.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.445%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5187	−0.011%	$14.6M	$73.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5194	+0.033%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5190	+0.005%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5193	+0.028%	$605K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5180	−0.057%	$20K	$382K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5179	−0.062%	$999K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5188	−0.006%	$38.6M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5191	+0.018%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5186	−0.018%	$529.7M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5179	−0.064%	$349.9M	$948.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5181	−0.051%	$127.4M	$863.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.110%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5193	+0.028%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.002%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5188	−0.005%	$378.3M	$162.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5191	+0.015%	$310.0M	$929.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5188	−0.004%	$106.7M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5188	−0.005%	$269.0M	$388.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5186	−0.018%	—	$107.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.172%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.165%	$660K	$113.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5172	−0.110%	$1.1M	$34.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5168	−0.136%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5188	−0.003%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5194	+0.035%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5191	+0.015%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDCshort	+0.0100%	8h	1.5192	+0.022%	$77K	$689K	50x
Derive XRP-PERP	+0.0100%	1h	1.5189	+0.003%	$817K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5189	+0.004%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5187	−0.011%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5183	−0.040%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5190	+0.008%	$54.1M	$32.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5196	+0.046%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5182	−0.044%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5190	+0.008%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5188	−0.008%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0109% / S −0.0070%	1h	1.5190	+0.012%	$785K	—	200x	as long as short
Hyperliquid XRP	+0.0144%	1h	1.5200	+0.074%	$290.2M	$268.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0166%	8h	1.5190	+0.008%	$1.8M	$33.7M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5189	+0.002%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0179%	1h	1.5200	+0.074%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5184	−0.031%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERPlong	+0.0220%	1h	1.5189	long leg	$1.3M	$4K	15x
RISEx XRP/USDC	+0.0394%	1h	1.5191	+0.013%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5170	−0.123%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0582%	1h	1.5176	−0.086%	$2K	$16K	10x	as long as short