Funding you earn now, next payment 22:00 UTC+0.0327%/8h= +35.8% APRnext payment +$0.41 per $10,000 · paid last 24h +0.051%
Price spread now: Hyperliquid against Backpack+0.046%7-day average +0.117% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$200.203% of the position
Funding, last 7 days+0.054%+$5 on $10k
+Price spread, last 7 days+0.586%+$59 · spread now +0.046%, 7d avg +0.117%
=Together, before fees+0.640%+ Points / potential airdropHyperliquid: Season 2 · farm board+$64 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.071% cheaper against Backpack than usual: you would sell low and buy high (spread +0.046% now, against its 7-day average of +0.117%). If the spread goes back, that is −$7 on $10k: about 17 hours of funding at the current rate (+$10 a day). At the pace of the last 7 days (+0.054% in total) that is about 9.2 days.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.054% in total (about 2.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.41 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XRP_USDC_PERP | 1.5239 | 0.0122 | pay 0.0015% / 1h | 29m 50s | $1.7M | $915K | 25x |
| Short | Hyperliquid XRP | 1.5246 | 0.0448 | get 0.0056% / 1h | 29m 50s | $279.3M | $180.9M | 20x |
Backpack XRP_USDC_PERP
Hyperliquid XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $68.58
- Price spread: +0.046% → +0.117%
- −$7.14
- Slippage, 4 orders
- −$1.31
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $41.13
- Costs to cover
- 0.203%
- Break-even
- 2.8 days
Slippage from Backpack: live order book, 4 min ago; Hyperliquid: 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 | 6.0 bp −$60 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 4 min ago | 0.33 bp | 4.8 bp −$5 | 5.8 bp −$58 | 10.6 bp −$1,058 | 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 | 1.5224 | −0.099% | $1.7M | — | 200x | as long as short |
| Hotstuff XRP-PERP | −0.0080% | 1h | 1.5203 | −0.236% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5229 | −0.063% | $1.1M | $99K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5220 | −0.125% | $68K | $89K | 15x | as long as short |
| Deribit XRP_USDC-PERPETUAL | 0.0000% | 1h | 1.5227 | −0.079% | $9.2M | $24.0M | 50x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5225 | −0.093% | $255K | — | 150x | as long as short |
| Injective XRP/USDC PERP | +0.0040% | 1h | 1.5290 | +0.335% | $2K | $86K | 30x | as long as short |
| Orderly PERP_XRP_USDC | +0.0046% | 8h | 1.5217 | −0.144% | $177K | $788K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5225 | −0.090% | $2.9M | $11.4M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5227 | −0.079% | $442K | $3.1M | 20x | as long as short |
GMX XRP/USD [ETH-USDC]
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
Deribit XRP_USDC-PERPETUAL
gTrade (Gains Network) XRP/USD
Injective XRP/USDC PERP
Orderly PERP_XRP_USDC
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5226 | −0.082% | $1.0M | $5.2M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5227 | −0.079% | $38.7M | $71.6M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5232 | −0.044% | $663K | $1.0M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5232 | −0.045% | $544.8M | $1.84B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5225 | −0.092% | $340.9M | $834.2M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5223 | −0.105% | $122.9M | $826.3M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5194 | −0.295% | $566K | $40K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5247 | +0.052% | $114K | $646K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5201 | −0.248% | $1.6M | $350K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5232 | −0.046% | $355.7M | $129.9M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5232 | −0.046% | $289.6M | $803.3M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5232 | −0.045% | $113.0M | $147.0M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5234 | −0.033% | $265.1M | $338.5M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5232 | −0.046% | — | $113.1M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5205 | −0.224% | $6.2M | $24.4M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5218 | −0.140% | $661K | $95.5M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5252 | +0.085% | $1.1M | $41.6M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5206 | −0.217% | $1.0M | $848K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5223 | −0.107% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5231 | −0.052% | $50K | $474K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5224 | −0.096% | $42K | $59K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5220 | −0.128% | $820K | $70K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5230 | −0.057% | $128K | $1.7M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5223 | −0.105% | $27K | $1.9M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5234 | −0.031% | $50.1M | $14.6M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5226 | −0.085% | $54.4M | $28.2M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5244 | +0.033% | $475K | $54K | 50x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5235 | −0.026% | $11K | $235K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5232 | −0.049% | $2.1M | $7.2M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5221 | −0.115% | $71K | $40K | 3x | as long as short |
| Backpack XRP_USDC_PERPlong | +0.0122% | 1h | 1.5239 | long leg | $1.7M | $915K | 25x | |
| 01 Exchange XRPUSD | +0.0136% | 1h | 1.5241 | +0.013% | $8K | $8K | 10x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0171% | 1h | 1.5223 | −0.102% | $15.3M | $63.3M | 50x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0192% | 1h | 1.5226 | −0.085% | $5.4M | $43.2M | 50x | as long as short |
| Kalshi KXXRPPERP | +0.0207% | 8h | 1.5235 | −0.026% | $1.7M | $31.5M | 2.9x | as long as short |
| Reya XRPRUSDPERP | +0.0210% | 1h | 1.5224 | −0.096% | $1.3M | $10K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5207 | −0.210% | $23.8M | $66.3M | 125x | as long as short |
| Hibachi XRP/USDT-P | +0.0248% | 1h | 1.5206 | −0.215% | $19K | $55K | 7x | as long as short |
| RISEx XRP/USDC | +0.0431% | 1h | 1.5245 | +0.038% | $404K | $496K | 10x | as long as short |
| Hyperliquid XRPshort | +0.0448% | 1h | 1.5246 | +0.046% | $279.3M | $180.9M | 20x | |
| Aftermath Perps XRPUSD | +0.0549% | 1h | 1.5235 | −0.029% | $1K | $11K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Kraken Futures PF_XRPUSD
Coinbase International XRP-PERP-INTX
Kalshi KXXRPPERP
Reya XRPRUSDPERP
BloFin XRP-USDT
Hibachi XRP/USDT-P
RISEx XRP/USDC
Aftermath Perps XRPUSD