Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.025%

Price spread now: Deribit against Binance−0.044%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$200.201% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)−0.096%−$10 · spread now −0.044%, 7d avg +0.024%

Together, before fees+0.057%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.067% cheaper against Binance than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.024%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.153%, 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	Binance XRPUSDT	1.5147	0.0100	pay 0.0100% / 8h	4h 15m	$534.2M	$2.12B	100x
Short	Deribit XRP_USDC-PERPETUAL	1.5140	0	get 0.0000% / 1h	15m 40s	$7.7M	$25.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now −0.044%Rate

Funding earned: −$21
Price spread: −0.044% → +0.024%: −$6.75
Slippage, 4 orders: −$3.1
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$47.85
Costs to cover: 0.201%
Break-even: never at this rate

Slippage from Binance: live order book, 13 min ago; Deribit: live order book, 3 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 Binance live order book, 13 min ago	0.33 bp	5.3 bp −$5	6.6 bp −$66	11.9 bp −$1,186	28.4 bp −$14.2K
Sell Deribit live order book, 3 min ago	0.33 bp	3.8 bp −$4	5.9 bp −$59	39.7 bp −$3,968	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	1.5143	−0.024%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5135	−0.077%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5143	−0.027%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.022%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUALshort	0.0000%	1h	1.5140	−0.044%	$7.7M	$25.5M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5136	−0.070%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.729%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0044% / S +0.0023%	1h	1.5134	−0.081%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0088%	8h	1.5135	−0.077%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5149	+0.018%	$2.8M	$14.6M	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	1.5149	+0.015%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5137	−0.064%	$11K	$329K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5138	−0.059%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5157	+0.068%	$280.4M	$227.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5136	−0.068%	$38.3M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5148	+0.009%	$608K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5147	long leg	$534.2M	$2.12B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5146	−0.004%	$346.9M	$934.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5148	+0.009%	$126.1M	$874.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5132	−0.097%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5144	−0.018%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5174	+0.181%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5138	−0.057%	$369.0M	$154.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5138	−0.057%	$291.3M	$901.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5136	−0.071%	$107.9M	$174.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5145	−0.011%	$268.0M	$384.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5139	−0.051%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5137	−0.065%	$5.2M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5159	+0.082%	$660K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5139	−0.052%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5164	+0.114%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5139	−0.051%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5134	−0.085%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5139	−0.052%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5147	+0.004%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5138	−0.057%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5137	−0.060%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5137	−0.064%	$53.9M	$30.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5142	−0.032%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5142	−0.033%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5130	−0.107%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5146	−0.004%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5137	−0.066%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0181%	1h	1.5142	−0.031%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5140	−0.044%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5150	+0.024%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5136	−0.069%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5152	+0.035%	$24.2M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5146	−0.004%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5147	−0.001%	$516K	$774K	10x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5158	+0.075%	$2K	$15K	10x	as long as short