Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Bybit+0.462%7-day average +0.016% · 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+$23as in the Price arb table

costs, in and out, $10k−$210.212% of the position

Long on Bybit Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.469%−$47 · spread now +0.462%, 7d avg +0.016%

Together, before fees−0.469%−$47 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: Bulk is 0.446% dearer against Bybit than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5113	0.0100	pay 0.0100% / 8h	6h 42m	$336.7M	$939.8M	100x
Short	Bulk XRP-USD	1.5183	0.0100	get 0.0013% / 1h	42m 10s	$1.6M	$305K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Bybit. 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 BybitbpFee BulkbpOrdersPrice spread, now +0.462%Rate

Funding earned: $0
Price spread: +0.462% → +0.016%: $44.62
Slippage, 4 orders: −$3.23
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $23.4
Costs to cover: 0.212%
Break-even: from the start

Slippage from Bybit: live order book, 2 min ago; Bulk: 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 Bybit live order book, 2 min ago	0.33 bp	6.5 bp −$6	8.1 bp −$81	13.8 bp −$1,384	27.2 bp −$13.6K
Sell Bulk live order book, 2 min ago	0.66 bp	4.2 bp −$4	5.0 bp −$50	15.6 bp −$1,561	34.4 bp −$17.2K

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	1.5114	+0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5109	−0.026%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.311%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5101	−0.077%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0064%	1h	1.5100	−0.088%	$828K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.958%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5101	−0.083%	$14.5M	$72.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0069%	8h	1.5109	−0.026%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5110	−0.020%	$9.0M	$25.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5103	−0.066%	$2.8M	$14.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5109	−0.026%	$517K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5105	−0.053%	$10K	$306K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5117	+0.030%	$880K	$5.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5106	−0.049%	$38.4M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5116	+0.017%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5105	−0.053%	$534.8M	$2.10B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5113	long leg	$336.7M	$939.8M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5115	+0.013%	$123.6M	$869.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5084	−0.192%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5115	+0.013%	$115K	$723K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5183	+0.462%	$1.6M	$305K	20x
Gate XRP_USDT	+0.0100%	8h	1.5107	−0.040%	$367.4M	$150.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5115	+0.013%	$290.9M	$901.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5108	−0.036%	$107.9M	$171.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5117	+0.026%	$264.3M	$384.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5119	+0.040%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	+0.279%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5178	+0.431%	$660K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5150	+0.244%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5185	+0.476%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5117	+0.028%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5111	−0.013%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5105	−0.055%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5109	−0.024%	$813K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5115	+0.013%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5105	−0.053%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5102	−0.071%	$49.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5102	−0.073%	$53.6M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5113	−0.001%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5105	−0.054%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5105	−0.050%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5110	−0.020%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0173%	1h	1.5119	+0.040%	$279.9M	$223.8M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5108	−0.031%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5110	−0.020%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.529%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5150	+0.242%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5117	+0.026%	$2.1M	$36.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0342%	1h	1.5123	+0.066%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5110	−0.018%	$535K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0803%	1h	1.5154	+0.272%	$2K	$14K	10x	as long as short