Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.013%

Price spread now: Aster against Backpack−0.135%7-day average +0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$200.205% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 7 days+0.754%+$75 · spread now −0.135%, 7d avg +0.080%

Together, before fees+0.637%+ Points / potential airdropAster: Stage 5 · farm board+$64 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Aster is 0.215% cheaper against Backpack than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of +0.080%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack XRP_USDC_PERP	1.5345	0.0155	pay 0.0019% / 1h	25m 05s	$1.7M	$925K	25x
Short	Aster XRPUSDT	1.5324	0.0100	get 0.0100% / 8h	2h 25m	$38.9M	$71.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$11.45
Price spread: −0.135% → +0.080%: −$21.52
Slippage, 4 orders: −$2.48
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$53.45
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from Backpack: live order book, 4 min ago; Aster: live order book, 4 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	0.33 bp	5.3 bp −$5	7.0 bp −$70	doesn't fit	doesn't fit
Sell Aster live order book, 4 min ago	0.33 bp	5.5 bp −$5	6.9 bp −$69	14.3 bp −$1,426	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
GMX XRP/USD [ETH-USDC]	L −0.0210% / S +0.0297%	1h	1.5329	−0.107%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5265	−0.521%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5323	−0.145%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	−0.163%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5324	−0.137%	$9.2M	$24.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5329	−0.106%	$257K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.358%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5321	−0.156%	$178K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5323	−0.142%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5324	−0.137%	$445K	$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	1.5340	−0.029%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5324	−0.135%	$38.9M	$71.7M	100x
Pacifica XRP	+0.0100%	1h	1.5327	−0.115%	$667K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5343	−0.015%	$548.6M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5346	+0.007%	$343.5M	$836.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5345	0.000%	$123.6M	$833.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	−0.313%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5341	−0.026%	$115K	$647K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.937%	$1.6M	$350K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5333	−0.078%	$367.7M	$131.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5330	−0.098%	$288.7M	$806.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5319	−0.167%	$113.5M	$147.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5335	−0.065%	$266.6M	$339.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5333	−0.078%	—	$113.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	−0.157%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5269	−0.494%	$665K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5309	−0.238%	$1.1M	$41.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5280	−0.424%	$1.0M	$850K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5346	+0.007%	$49K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5330	−0.097%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5321	−0.156%	$825K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5326	−0.122%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5320	−0.163%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5326	−0.127%	$50.4M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5323	−0.143%	$54.8M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5334	−0.069%	$478K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5333	−0.081%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5345	0.000%	$11K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5321	−0.155%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5320	−0.161%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5345	0.000%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERPlong	+0.0155%	1h	1.5345	long leg	$1.7M	$925K	25x
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5324	−0.134%	$15.4M	$63.8M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5331	−0.091%	$5.4M	$43.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5343	−0.011%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5330	−0.098%	$1.7M	$31.6M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5332	−0.085%	$23.8M	$67.3M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5321	−0.155%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5346	+0.005%	$404K	$497K	10x	as long as short
Hyperliquid XRP	+0.0470%	1h	1.5349	+0.026%	$282.6M	$182.0M	20x	as long as short
Aftermath Perps XRPUSD	+0.0530%	1h	1.5269	−0.498%	$1K	$11K	10x	as long as short