Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Bulk−0.391%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$230.227% of the position

Long on Bulk Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.005%−$1 on $10k

Price spread, last 7 days+0.390%+$39 · spread now −0.391%, 7d avg −0.014%

Together, before fees+0.385%+$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.377% cheaper against Bulk than usual: you would sell low and buy high, −$38 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5472	0.0100	pay 0.0013% / 1h	7m 26s	$1.7M	$470K	20x
Short	Bybit XRPUSDT	1.5411	0.0100	get 0.0100% / 8h	2h 07m	$346.8M	$852.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.391%Rate

Funding earned: $0
Price spread: −0.391% → −0.014%: −$37.75
Slippage, 4 orders: −$4.74
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$60.49
Costs to cover: 0.227%
Break-even: never at this rate

Slippage from Bulk: live order book, 2 min ago; Bybit: 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	4.1 bp −$4	4.7 bp −$47	14.9 bp −$1,489	32.7 bp −$16.4K
Sell Bybit live order book, 2 min ago	0.32 bp	6.6 bp −$7	8.6 bp −$86	14.7 bp −$1,474	24.9 bp −$12.5K

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	1.5415	−0.365%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5411	−0.392%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	−0.139%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5415	−0.365%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5410	−0.396%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.173%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5415	−0.365%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0168%	1h	1.5410	−0.400%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5415	−0.366%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5416	−0.359%	$446K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5421	−0.323%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5412	−0.385%	$39.3M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5415	−0.365%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5411	−0.392%	$554.5M	$1.87B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5411	−0.391%	$346.8M	$852.1M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5412	−0.385%	$126.1M	$847.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	−0.404%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5422	−0.320%	$119K	$688K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5472	long leg	$1.7M	$470K	20x
Gate XRP_USDT	+0.0100%	8h	1.5409	−0.404%	$368.5M	$134.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5410	−0.398%	$291.7M	$822.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5411	−0.392%	$112.1M	$149.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5410	−0.398%	$267.0M	$346.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5411	−0.391%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.101%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	−0.183%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	−0.433%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5437	−0.223%	$1.0M	$879K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5416	−0.359%	$49K	$469K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5411	−0.390%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5410	−0.397%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5417	−0.349%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5411	−0.391%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5413	−0.379%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5410	−0.398%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5410	−0.397%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5411	−0.390%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5414	−0.372%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5408	−0.408%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5412	−0.387%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5418	−0.346%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5411	−0.394%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5431	−0.262%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0198%	1h	1.5429	−0.275%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5410	−0.399%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5429	−0.275%	$24.2M	$68.5M	125x	as long as short
Kalshi KXXRPPERP	+0.0300%	8h	1.5423	−0.314%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5417	−0.349%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5421	−0.324%	$405K	$499K	10x	as long as short
Hyperliquid XRP	+0.0510%	1h	1.5429	−0.278%	$284.2M	$190.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0544%	1h	1.5436	−0.227%	$1K	$11K	10x	as long as short