Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Aster+1.302%7-day average −0.312% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs+$55as in the Price arb table

costs, in and out, $10k−$1061.061% of the position

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.165%+$17 on $10k

Price spread, last 3 days (all we have)−1.999%−$200 · spread now +1.302%, 7d avg −0.312%

Together, before fees−1.834%+ Points / potential airdropAster: Stage 5 · farm board−$183 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.614% dearer against Aster than usual: you sell high and buy low (spread +1.302% now, against its 7-day average of −0.312%): +$161 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3 months. Mind the row above: over the last 7 days funding on this pair paid +0.165%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XRPUSDT	1.5360	0.0100	pay 0.0100% / 8h	7h 55m	$38.9M	$83.3M	100x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	55m 16s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now +1.302%Rate

Funding earned: −$14
Price spread: +1.302% → −0.312%: $161.38
Slippage, 4 orders: −$98.08
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $41.28
Costs to cover: 1.061%
Break-even: from the start

Slippage from Aster: live order book, 4 min ago; Injective: live order book, 18 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 Aster live order book, 4 min ago	0.65 bp	4.7 bp −$5	4.9 bp −$49	13.1 bp −$1,310	doesn't fit
Sell Injective live order book, 18 min ago	39.09 bp	57.7 bp −$58	67.1 bp −$671	doesn't fit	doesn't fit

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	1.5380	+0.130%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5367	+0.047%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5400	+0.260%	$69K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5358	−0.011%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0009% / S +0.0088%	1h	1.5356	−0.024%	$842K	—	200x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+1.302%	$2K	$107K	30x
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5361	+0.007%	$75K	$910K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5356	−0.026%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5368	+0.051%	$2.9M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5371	+0.072%	$513K	$3.2M	20x	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	1.5362	+0.013%	$12K	$271K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5354	−0.036%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDTlong	+0.0100%	8h	1.5360	long leg	$38.9M	$83.3M	100x
Pacifica XRP	+0.0100%	1h	1.5374	+0.088%	$635K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5372	+0.078%	$541.1M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5377	+0.111%	$340.9M	$931.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5378	+0.117%	$125.6M	$885.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5339	−0.137%	$572K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	+0.026%	$116K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	−0.150%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5380	+0.130%	$375.0M	$147.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5372	+0.078%	$299.7M	$890.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5364	+0.029%	$109.7M	$167.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5379	+0.124%	$269.8M	$377.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5378	+0.117%	—	$123.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5388	+0.185%	$6.5M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5360	+0.003%	$669K	$106.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5389	+0.189%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5367	+0.046%	$1.0M	$906K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5363	+0.019%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5364	+0.026%	$48K	$459K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5358	−0.013%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5364	+0.025%	$827K	$82K	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	+0.033%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5362	+0.011%	$50.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5375	+0.098%	$54.7M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5367	+0.046%	$479K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5362	+0.011%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5358	−0.016%	$55K	$18K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0141%	1h	1.5367	+0.046%	$9.3M	$25.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5356	−0.029%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5371	+0.072%	$23.9M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5369	+0.059%	$5.8M	$47.0M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5364	+0.028%	$14.9M	$70.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5385	+0.163%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5371	+0.074%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0318%	8h	1.5385	+0.163%	$2.1M	$35.4M	2.9x	as long as short
Hyperliquid XRP	+0.0561%	1h	1.5391	+0.202%	$291.9M	$217.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0777%	1h	1.5365	+0.033%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5362	+0.012%	$508K	$755K	10x	as long as short