Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0047%/8hpaid last 24h −0.006%

Price spread now: Orderly against SoDEX−0.027%7-day average +0.001% · you buy dearer than you sell

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

Long on SoDEX Short on Orderly

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)+0.035%+$3 · spread now −0.027%, 7d avg +0.001%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Orderly is 0.027% cheaper against SoDEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5020	0.0100	pay 0.0013% / 1h	21m 50s	$32K	$1.8M	10x
Short	Orderly PERP_XRP_USDC	1.5016	0.0053	get 0.0053% / 8h	4h 21m	$178K	$779K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.027%Rate

Funding earned: −$9.87
Price spread: −0.027% → +0.001%: −$2.73
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$26.6
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 1 min ago; 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 SoDEX live order book, 1 min ago	0.33 bp	4.3 bp −$4	6.6 bp −$66	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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
GMX XRP/USD [ETH-USDC]	L −0.0208% / S +0.0294%	1h	1.5024	+0.027%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5050	+0.200%	$6K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5050	+0.197%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5026	+0.040%	$8.7M	$22.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5025	+0.030%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.4090	−6.192%	$2K	$33K	30x	as long as short
Orderly PERP_XRP_USDCshort	+0.0053%	8h	1.5016	−0.027%	$178K	$779K	50x
Lighter XRP	+0.0096%	1h	1.5014	−0.037%	$2.9M	$10.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5009	−0.073%	$577K	$2.4M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5037	+0.113%	$12K	$243K	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	1.5031	+0.077%	$1.0M	$5.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5014	−0.038%	$38.2M	$68.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5045	+0.167%	$664K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5009	−0.073%	$528.9M	$1.74B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5006	−0.093%	$339.2M	$782.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5004	−0.107%	$125.2M	$787.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5037	+0.113%	$558K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5044	+0.160%	$111K	$611K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5010	−0.067%	$349.2M	$127.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5012	−0.053%	$310.4M	$760.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5015	−0.035%	$111.0M	$137.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.4999	−0.140%	$258.6M	$320.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5010	−0.067%	—	$3.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5003	−0.110%	$6.9M	$20.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5045	+0.164%	$654K	$88.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5081	+0.408%	$1.1M	$40.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5057	+0.246%	$1.0M	$790K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5031	+0.072%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5031	+0.073%	$60K	$431K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5022	+0.015%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5021	+0.005%	$809K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5025	+0.035%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5020	long leg	$32K	$1.8M	10x
HTX XRP-USDT	+0.0100%	8h	1.5011	−0.063%	$49.5M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5021	+0.007%	$54.0M	$26.9M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5047	+0.180%	$1.6M	$139K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5044	+0.163%	$469K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5013	−0.047%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5018	−0.010%	$72K	$39K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5042	+0.146%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0164%	8h	1.5066	+0.306%	$1.7M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0195%	1h	1.5027	+0.047%	$1.7M	$912K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0208%	1h	1.5033	+0.087%	$5.2M	$39.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0209%	1h	1.5026	+0.039%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5049	+0.193%	$23.5M	$59.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5046	+0.170%	$19K	$37K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0265%	1h	1.5022	+0.015%	$15.2M	$55.7M	50x	as long as short
Hyperliquid XRP	+0.0404%	1h	1.5019	−0.007%	$273.3M	$158.8M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5045	+0.168%	$409K	$477K	10x	as long as short
Aftermath Perps XRPUSD	+0.0522%	1h	1.5036	+0.105%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5040	+0.133%	$67K	$89K	15x	as long as short