Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Ondo Perps against SoDEX−0.217%7-day average −0.041% · you buy dearer than you sell

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

Long on SoDEX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.558%+$56 · spread now −0.217%, 7d avg −0.041%

Together, before fees+0.542%+ Points / potential airdropOndo Perps: Active · farm board+$54 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: Ondo Perps is 0.176% cheaper against SoDEX than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5184	0.0100	pay 0.0013% / 1h	41m 13s	$29K	$1.7M	10x
Short	Ondo Perps XRP-USD.P	1.5151	0.0100	get 0.0013% / 1h	41m 13s	$564K	$28K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against SoDEX. 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 SoDEXbpFee Ondo PerpsbpOrdersPrice spread, now −0.217%Rate

Funding earned: $0
Price spread: −0.217% → −0.041%: −$17.6
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$30.6
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 3 min ago; Ondo Perps: 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 SoDEX live order book, 3 min ago	0.33 bp	4.3 bp −$4	8.2 bp −$82	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	1.5164	−0.132%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5159	−0.162%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5172	−0.080%	$261K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5182	−0.014%	$14.4M	$74.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.476%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0052% / S +0.0013%	1h	1.5172	−0.079%	$778K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5186	+0.013%	$7.8M	$25.6M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5186	+0.013%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5186	+0.013%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5161	−0.151%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5177	−0.046%	$62K	$934K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5162	−0.148%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5165	−0.127%	$38.3M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5161	−0.151%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5182	−0.013%	$533.3M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5183	−0.007%	$345.9M	$942.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5178	−0.040%	$127.0M	$886.7M	100x	as long as short
Ondo Perps XRP-USD.Pshort	+0.0100%	1h	1.5151	−0.217%	$564K	$28K	5x
Arcus XRP-USD	+0.0100%	1h	1.5163	−0.138%	$118K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.126%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5173	−0.072%	$370.4M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5177	−0.046%	$292.7M	$900.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5167	−0.114%	$108.8M	$176.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5178	−0.040%	$268.8M	$388.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5176	−0.053%	—	$127.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5202	+0.117%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5203	+0.125%	$661K	$109.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5201	+0.112%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5209	+0.165%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5168	−0.105%	$44K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5172	−0.079%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5180	−0.023%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5186	+0.015%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5184	long leg	$29K	$1.7M	10x
HTX XRP-USDT	+0.0100%	8h	1.5173	−0.072%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5180	−0.026%	$54.1M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5157	−0.180%	$473K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5166	−0.117%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5176	−0.052%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5178	−0.039%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5163	−0.138%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5187	+0.020%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5169	−0.097%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5176	−0.053%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5170	−0.091%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0279%	8h	1.5178	−0.040%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0285%	1h	1.5175	−0.059%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0313%	1h	1.5174	−0.066%	$291.7M	$235.3M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5165	−0.126%	$516K	$774K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5170	−0.092%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5191	+0.049%	$2K	$15K	10x	as long as short