Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.025%

Price spread now: Coinbase International against Bybit−0.269%7-day average +0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 3 days (all we have)+0.232%+$23 · spread now −0.269%, 7d avg +0.033%

Together, before fees+0.275%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.302% cheaper against Bybit than usual: you would sell low and buy high (spread −0.269% now, against its 7-day average of +0.033%). If the spread goes back, that is −$30 on $10k: about 8.1 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.043% in total) that is about 49 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5630	0.0100	pay 0.0100% / 8h	46m 30s	$348.3M	$913.9M	100x
Short	Coinbase International XRP-PERP-INTX	1.5588	0.0224	get 0.0028% / 1h	46m 30s	$5.9M	$47.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.269%Rate

Funding earned: $26.04
Price spread: −0.269% → +0.033%: −$30.2
Slippage, 4 orders: −$6.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$32.14
Costs to cover: 0.280%
Break-even: 15.6 days

Slippage from Bybit: live order book, 3 min ago; Coinbase International: 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 Bybit live order book, 3 min ago	0.32 bp	5.8 bp −$6	6.7 bp −$67	12.4 bp −$1,236	25.1 bp −$12.6K
Sell Coinbase International live order book, 3 min ago	0.32 bp	8.0 bp −$8	10.1 bp −$101	21.9 bp −$2,195	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	1.5626	−0.026%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5603	−0.173%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5650	+0.128%	$70K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5567	−0.404%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0106%	1h	1.5568	−0.396%	$856K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5576	−0.345%	$9.7M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5584	−0.295%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5570	−0.384%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.448%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5611	−0.119%	$3.0M	$12.6M	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	1.5619	−0.070%	$445K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5625	−0.029%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5618	−0.076%	$39.7M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5616	−0.089%	$642K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5627	−0.019%	$559.6M	$2.01B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5630	long leg	$348.3M	$913.9M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5628	−0.013%	$127.6M	$893.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5568	−0.397%	$579K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5629	−0.006%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.020%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5624	−0.038%	$373.4M	$143.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5624	−0.038%	$303.4M	$867.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5609	−0.132%	$113.6M	$163.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5629	−0.006%	$273.3M	$369.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5622	−0.051%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	+0.023%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	−0.237%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	−0.160%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5640	+0.064%	$1.0M	$887K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	−0.391%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5570	−0.384%	$48K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5571	−0.378%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5573	−0.362%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5578	−0.334%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5579	−0.326%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5567	−0.406%	$51.1M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5580	−0.320%	$55.4M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5620	−0.064%	$487K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5629	−0.006%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5628	−0.010%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5575	−0.355%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5631	+0.006%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5562	−0.437%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	−0.288%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0224%	1h	1.5588	−0.269%	$5.9M	$47.7M	50x
Hibachi XRP/USDT-P	+0.0272%	1h	1.5580	−0.317%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5568	−0.397%	$1.9M	$33.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0378%	1h	1.5597	−0.211%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0620%	1h	1.5632	+0.013%	$297.8M	$208.7M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5640	+0.066%	$510K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0831%	1h	1.5606	−0.154%	$1K	$11K	10x	as long as short