Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.036%

Price spread now: BloFin against Bulk+0.043%7-day average −0.006% · 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−$16as in the Price arb table

costs, in and out, $10k−$210.214% of the position

Long on Bulk Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.123%+$12 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now +0.043%, 7d avg −0.006%

Together, before fees+0.090%+$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.050% dearer against Bulk than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5334	0.0100	pay 0.0013% / 1h	26m 33s	$1.7M	$381K	20x
Short	BloFin XRP-USDT	1.5341	0.0220	get 0.0220% / 8h	7h 26m	$24.0M	$73.7M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.043%Rate

Funding earned: $25.2
Price spread: +0.043% → −0.006%: $4.95
Slippage, 4 orders: −$2.44
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $8.71
Costs to cover: 0.214%
Break-even: 4.6 days

Slippage from Bulk: live order book, 3 min ago; BloFin: 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 Bulk live order book, 3 min ago	0.33 bp	3.8 bp −$4	5.4 bp −$54	12.8 bp −$1,277	26.0 bp −$13.0K
Sell BloFin live order book, 3 min ago	0.65 bp	6.7 bp −$7	9.3 bp −$93	14.3 bp −$1,431	27.1 bp −$13.5K

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	1.5335	+0.004%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5347	+0.082%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5334	−0.003%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0014% / S +0.0079%	1h	1.5333	−0.008%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.471%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5339	+0.030%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5340	+0.037%	$9.3M	$25.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5351	+0.108%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5346	+0.078%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5344	+0.063%	$515K	$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	+0.0100%	8h	1.5348	+0.089%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5360	+0.167%	$479K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5354	+0.126%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5341	+0.041%	$38.8M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5350	+0.099%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5353	+0.118%	$541.5M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5349	+0.095%	$342.2M	$919.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5350	+0.102%	$125.0M	$867.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.120%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5352	+0.115%	$118K	$711K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5334	long leg	$1.7M	$381K	20x
Gate XRP_USDT	+0.0100%	8h	1.5352	+0.115%	$374.6M	$149.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5347	+0.082%	$311.4M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5353	+0.125%	$108.9M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5349	+0.095%	$268.6M	$374.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5353	+0.121%	—	$123.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	−0.041%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5322	−0.081%	$665K	$107.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.003%	$1.1M	$38.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5331	−0.022%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5343	+0.059%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5347	+0.082%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5340	+0.037%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5341	+0.043%	$826K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5349	+0.095%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5338	+0.024%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5346	+0.076%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5338	+0.024%	$54.6M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5346	+0.077%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5338	+0.024%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5340	+0.039%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5341	+0.043%	$24.0M	$73.7M	125x
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5344	+0.063%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5338	+0.023%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0294%	1h	1.5344	+0.063%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0309%	8h	1.5343	+0.056%	$2.1M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5337	+0.018%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0395%	1h	1.5352	+0.115%	$290.0M	$214.7M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5340	+0.037%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0805%	1h	1.5335	+0.005%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5354	+0.130%	$507K	$754K	10x	as long as short