Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against Bulk+0.164%7-day average −0.037% · 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+$4as in the Price arb table

costs, in and out, $10k−$160.163% of the position

Long on Bulk Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.150%−$15 · spread now +0.164%, 7d avg −0.037%

Together, before fees−0.159%−$16 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: SoDEX is 0.201% dearer against Bulk than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.037%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5206	0.0100	pay 0.0013% / 1h	18m 31s	$1.6M	$5K	20x
Short	SoDEX XRP-USD	1.5231	0.0100	get 0.0013% / 1h	18m 31s	$32K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.164%Rate

Funding earned: $0
Price spread: +0.164% → −0.037%: $20.1
Slippage, 4 orders: −$1.31
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee SoDEX: 4 bp × 2 orders: −$8
Net: $3.79
Costs to cover: 0.163%
Break-even: from the start

Slippage from Bulk: live order book, 1 min ago; SoDEX: live order book, just now.

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, 1 min ago	0.33 bp	3.8 bp −$4	4.8 bp −$48	9.1 bp −$912	20.4 bp −$10.2K
Sell SoDEX live order book, just now	0.33 bp	4.3 bp −$4	8.3 bp −$83	doesn't fit	doesn't fit

XRP on 50 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	1.5244	+0.250%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5232	+0.170%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5200	−0.039%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5212	+0.037%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5232	+0.168%	$14.5M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.328%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0078%	1h	1.5236	+0.197%	$7.8M	$24.7M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0088% / S −0.0040%	1h	1.5231	+0.161%	$786K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5243	+0.244%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5244	+0.250%	$548K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0099%	8h	1.5235	+0.191%	$11K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5240	+0.227%	$993K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5243	+0.242%	$38.7M	$87.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5243	+0.243%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5247	+0.270%	$535.0M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5237	+0.204%	$349.7M	$965.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5240	+0.224%	$128.2M	$885.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5196	−0.066%	$565K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5245	+0.256%	$145K	$716K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5239	+0.217%	$378.8M	$161.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5241	+0.230%	$311.8M	$930.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5243	+0.242%	$107.9M	$182.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5240	+0.224%	$269.4M	$397.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5239	+0.217%	—	$105.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	−0.054%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5194	−0.076%	$660K	$113.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5199	−0.049%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5204	−0.013%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5236	+0.199%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5240	+0.224%	$66K	$507K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5233	+0.175%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5232	+0.171%	$65K	$747K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5243	+0.245%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5231	+0.164%	$32K	$1.6M	10x
HTX XRP-USDT	+0.0100%	8h	1.5238	+0.214%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5234	+0.184%	$54.5M	$32.5M	50x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5206	long leg	$1.6M	$5K	20x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5248	+0.275%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5235	+0.189%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5231	+0.168%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5248	+0.276%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5233	+0.176%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5238	+0.210%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0188%	1h	1.5241	+0.230%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0211%	1h	1.5254	+0.316%	$290.3M	$265.0M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5229	+0.153%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5230	+0.158%	$23.7M	$78.2M	125x	as long as short
Kalshi KXXRPPERP	+0.0224%	8h	1.5238	+0.210%	$1.8M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5247	+0.267%	$534K	$802K	10x	as long as short
Aftermath Perps XRPUSD	+0.0644%	1h	1.5214	+0.051%	$2K	$16K	10x	as long as short