XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0212%/8h= +23.2% APRnext payment +$0.26 per $10,000 · paid last 24h +0.019%

Price spread now: Backpack against Bulk+0.061%7-day average −0.076% · 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−$5as in the Price arb table

costs, in and out, $10k−$190.190% of the position

Long on Bulk Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.022%+$2 on $10k

Price spread, last 7 days−0.835%−$84 · spread now +0.061%, 7d avg −0.076%

Together, before fees−0.813%−$81 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.137% dearer against Bulk than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.076%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.022% in total (about 2.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.26 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	Bulk XRP-USD	1.5350	0.0100	pay 0.0013% / 1h	7m 04s	$1.7M	$327K	20x
Short	Backpack XRP_USDC_PERP	1.5359	0.0312	get 0.0039% / 1h	7m 04s	$1.9M	$1.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bulk. 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 BulkbpFee BackpackbpOrdersPrice spread, now +0.061%Rate

Funding earned: $44.51
Price spread: +0.061% → −0.076%: $13.71
Slippage, 4 orders: −$1.95
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $39.27
Costs to cover: 0.190%
Break-even: 0.8 days

Slippage from Bulk: live order book, 2 min ago; Backpack: live order book, 2 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 Bulk live order book, 2 min ago	0.65 bp	4.2 bp −$4	6.6 bp −$66	14.6 bp −$1,461	33.0 bp −$16.5K
Sell Backpack live order book, 2 min ago	0.33 bp	5.3 bp −$5	6.4 bp −$64	doesn't fit	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	1.5356	+0.041%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5354	+0.030%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5346	−0.026%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0018% / S +0.0072%	1h	1.5345	−0.032%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.370%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0064%	8h	1.5351	+0.009%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5341	−0.056%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5351	+0.009%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5357	+0.048%	$515K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5346	−0.024%	$9K	$281K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5359	+0.064%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5351	+0.012%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5350	+0.003%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5355	+0.034%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5351	+0.008%	$542.3M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5343	−0.043%	$342.0M	$918.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5339	−0.069%	$124.7M	$867.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5322	−0.180%	$572K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5355	+0.035%	$117K	$714K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5350	long leg	$1.7M	$327K	20x
Gate XRP_USDT	+0.0100%	8h	1.5350	+0.002%	$374.9M	$151.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5351	+0.009%	$304.8M	$915.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5351	+0.006%	$111.0M	$167.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5349	−0.004%	$269.2M	$375.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5352	+0.015%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5354	+0.028%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5376	+0.172%	$668K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5355	+0.035%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5390	+0.263%	$1.2M	$997K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5348	−0.009%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5349	−0.004%	$47K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5350	+0.001%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5354	+0.029%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5357	+0.050%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5351	+0.009%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5349	−0.004%	$50.3M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5351	+0.009%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5347	−0.019%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5349	−0.001%	$59K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0141%	1h	1.5352	+0.015%	$9.3M	$24.9M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5343	−0.042%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5355	+0.035%	$24.1M	$74.0M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5358	+0.054%	$5.7M	$46.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5351	+0.006%	$14.5M	$70.3M	50x	as long as short
Backpack XRP_USDC_PERPshort	+0.0312%	1h	1.5359	+0.061%	$1.9M	$1.3M	25x
Hibachi XRP/USDT-P	+0.0312%	1h	1.5374	+0.159%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5360	+0.067%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0376%	1h	1.5363	+0.087%	$290.4M	$214.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5360	+0.067%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5350	+0.005%	$543K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0833%	1h	1.5354	+0.028%	$2K	$13K	10x	as long as short