Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.044%

Price spread now: Hibachi against Binance−0.320%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.314%+$31 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Funding pays, the price is against you. Hibachi is 0.320% cheaper against Binance than usual: you would sell low and buy high (spread −0.320% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$32 on $10k: about 24 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.314% in total) that is about 7.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XRPUSDT	1.5221	0.0100	pay 0.0100% / 8h	1h 25m	$534.1M	$2.22B	100x
Short	Hibachi XRP/USDT-P	1.5172	0.0144	get 0.0018% / 1h	25m 59s	$17K	$79K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.320%Rate

Funding earned: $9.24
Price spread: −0.320% → 0.000%: −$32.04
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$41.8
Costs to cover: 0.190%
Break-even: 38.7 days

Slippage unknown: Binance: live order book, 3 min ago; Hibachi: no order-book sample. Net counts fees only.

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, 3 min ago	0.33 bp	5.3 bp −$5	6.4 bp −$64	11.8 bp −$1,178	26.9 bp −$13.5K
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5214	−0.044%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5221	0.000%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.333%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5226	+0.035%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5232	+0.073%	$14.4M	$74.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.229%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0078%	1h	1.5233	+0.081%	$7.7M	$24.8M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0085% / S −0.0035%	1h	1.5204	−0.107%	$802K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5232	+0.073%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5232	+0.074%	$547K	$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	+0.0099%	8h	1.5219	−0.011%	$11K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5225	+0.032%	$991K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5221	+0.003%	$38.6M	$87.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5223	+0.015%	$619K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5221	long leg	$534.1M	$2.22B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5209	−0.077%	$346.7M	$962.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5210	−0.070%	$127.6M	$886.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5198	−0.149%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5234	+0.088%	$144K	$715K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5218	−0.017%	$377.7M	$160.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5223	+0.015%	$304.3M	$926.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5227	+0.042%	$107.9M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5224	+0.022%	$268.4M	$397.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5217	−0.024%	—	$105.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5158	−0.413%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5165	−0.368%	$659K	$113.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5162	−0.385%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5169	−0.339%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5226	+0.035%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5233	+0.081%	$47K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5230	+0.060%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5226	+0.035%	$65K	$773K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5148	−0.475%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5234	+0.088%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5231	+0.068%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5229	+0.056%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5226	+0.035%	$54.5M	$32.5M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5157	−0.418%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5231	+0.067%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5222	+0.007%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5234	+0.088%	$9K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5227	+0.042%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-Pshort	+0.0144%	1h	1.5172	−0.320%	$17K	$79K	7x
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5234	+0.088%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0187%	1h	1.5241	+0.134%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0199%	1h	1.5245	+0.160%	$289.9M	$265.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5228	+0.048%	$1.8M	$35.2M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5228	+0.049%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5205	−0.103%	$23.7M	$78.1M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5235	+0.093%	$532K	$800K	10x	as long as short
Aftermath Perps XRPUSD	+0.0606%	1h	1.5183	−0.247%	$2K	$16K	10x	as long as short