XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0103%/8h= −11.2% APRnext payment −$0.13 per $10,000 · paid last 24h −0.013%

Price spread now: Arcus against Backpack+0.065%7-day average −0.044% · 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−$10as in the Price arb table

costs, in and out, $10k−$210.209% of the position

Long on Backpack Short on Arcus

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)−0.104%−$10 · spread now +0.065%, 7d avg −0.044%

Together, before fees−0.120%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Arcus is 0.109% dearer against Backpack than usual: you sell high and buy low (spread +0.065% now, against its 7-day average of −0.044%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 3 days (−0.016% in total) that is about 23 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5467	0.0203	pay 0.0025% / 1h	10m 16s	$1.8M	$953K	25x
Short	Arcus XRP-USD	1.5477	0.0100	get 0.0013% / 1h	10m 16s	$120K	$686K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Backpack. 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 BackpackbpFee ArcusbpOrdersPrice spread, now +0.065%Rate

Funding earned: −$21.53
Price spread: +0.065% → −0.044%: $10.89
Slippage, 4 orders: −$6.43
Fee Backpack: 5 bp × 2 orders: −$10
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$31.57
Costs to cover: 0.209%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Arcus: live order book, 14 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 Backpack live order book, 4 min ago	0.32 bp	5.3 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell Arcus live order book, 14 min ago	1.30 bp	5.0 bp −$5	16.5 bp −$165	43.7 bp −$4,367	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	1.5439	−0.181%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5471	+0.023%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5470	+0.019%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5473	+0.039%	$259K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0009%	1h	1.5473	+0.039%	$9.4M	$24.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.144%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5475	+0.052%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0170%	1h	1.5473	+0.036%	$911K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5466	−0.006%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5468	+0.006%	$447K	$3.1M	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	1.5469	+0.014%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5475	+0.051%	$39.4M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5472	+0.032%	$672K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5463	−0.026%	$556.3M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5463	−0.026%	$348.4M	$851.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5457	−0.065%	$126.6M	$848.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5427	−0.259%	$574K	$40K	5x	as long as short
Arcus XRP-USDshort	+0.0100%	1h	1.5477	+0.065%	$120K	$686K	20x
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.029%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5472	+0.032%	$369.3M	$133.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5462	−0.032%	$292.5M	$819.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5463	−0.024%	$112.1M	$149.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5453	−0.091%	$267.8M	$346.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5456	−0.071%	—	$114.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.130%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	−0.023%	$671K	$97.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5436	−0.199%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5464	−0.019%	$1.0M	$871K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5470	+0.021%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5479	+0.078%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5475	+0.053%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5437	−0.195%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5478	+0.074%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5466	−0.006%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5474	+0.048%	$50.9M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5463	−0.026%	$55.2M	$28.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5468	+0.008%	$482K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5467	0.000%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5468	+0.005%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5470	+0.016%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5479	+0.078%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0168%	1h	1.5467	+0.003%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5479	+0.078%	$5.6M	$45.1M	50x	as long as short
Backpack XRP_USDC_PERPlong	+0.0203%	1h	1.5467	long leg	$1.8M	$953K	25x
Reya XRPRUSDPERP	+0.0211%	1h	1.5476	+0.058%	$1.4M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5480	+0.084%	$24.2M	$68.7M	125x	as long as short
Kalshi KXXRPPERP	+0.0284%	8h	1.5490	+0.149%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0288%	1h	1.5441	−0.171%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5479	+0.076%	$407K	$499K	10x	as long as short
Hyperliquid XRP	+0.0508%	1h	1.5492	+0.162%	$285.6M	$190.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0526%	1h	1.5451	−0.103%	$1K	$11K	10x	as long as short