Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Arcus+0.065%7-day average −0.004% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Arcus Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now +0.065%, 7d avg −0.004%

Together, before fees−0.104%−$10 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 0.069% dearer against Arcus than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5378	0.0100	pay 0.0013% / 1h	22m 30s	$117K	$758K	20x
Short	Bybit XRPUSDT	1.5388	0.0100	get 0.0100% / 8h	22m 30s	$342.2M	$924.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Arcus. 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 ArcusbpFee BybitbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → −0.004%: $6.88
Slippage, 4 orders: −$7.35
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.97
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Arcus: live order book, 56 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 Arcus live order book, 56 min ago	0.64 bp	4.9 bp −$5	12.8 bp −$128	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.32 bp	6.2 bp −$6	7.6 bp −$76	13.7 bp −$1,367	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	1.5365	−0.085%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	−0.085%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5380	+0.013%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5361	−0.108%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0097%	1h	1.5360	−0.117%	$830K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5367	−0.072%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5365	−0.087%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5367	−0.072%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.184%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5368	−0.064%	$2.9M	$13.0M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5362	−0.104%	$438K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5385	+0.049%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5370	−0.055%	$39.1M	$81.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5370	−0.051%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5389	+0.070%	$548.0M	$2.04B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5388	+0.065%	$342.2M	$924.0M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5384	+0.039%	$125.3M	$880.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	−0.215%	$573K	$41K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5378	long leg	$117K	$758K	20x
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.208%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5369	−0.059%	$361.5M	$147.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5371	−0.046%	$293.2M	$885.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5366	−0.077%	$110.2M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5375	−0.020%	$267.7M	$374.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5378	0.000%	—	$121.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.044%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5367	−0.072%	$667K	$104.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.162%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5357	−0.137%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5375	−0.016%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5390	+0.078%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5364	−0.090%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5366	−0.078%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	−0.059%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5365	−0.085%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5366	−0.075%	$50.4M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5366	−0.078%	$54.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	−0.045%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5379	+0.007%	$12K	$269K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5375	−0.020%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	−0.092%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5387	+0.059%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5373	−0.034%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	−0.072%	$24.3M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5372	−0.039%	$5.8M	$47.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0257%	1h	1.5372	−0.039%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5364	−0.088%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0306%	8h	1.5370	−0.052%	$2.0M	$34.4M	2.9x	as long as short
Hyperliquid XRP	+0.0589%	1h	1.5379	+0.007%	$292.5M	$212.5M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5392	+0.091%	$500K	$638K	10x	as long as short
Aftermath Perps XRPUSD	+0.0787%	1h	1.5398	+0.127%	$1K	$11K	10x	as long as short