Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.005%

Price spread now: Derive against Bybit+0.061%7-day average +0.003% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 3 days (all we have)−0.200%−$20 · spread now +0.061%, 7d avg +0.003%

Together, before fees−0.129%−$13 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: Derive is 0.058% dearer against Bybit than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5457	0.0100	pay 0.0100% / 8h	1h 07m	$343.8M	$901.7M	100x
Short	Derive XRP-PERP	1.5466	0.0100	get 0.0013% / 1h	7m 57s	$832K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.061%Rate

Funding earned: $0
Price spread: +0.061% → +0.003%: $5.85
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Derive: 3 bp × 2 orders: −$6
Net: −$11.15
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 6 min ago; Derive: no order-book sample. Net counts fees only.

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, 6 min ago	0.32 bp	5.8 bp −$6	6.7 bp −$67	11.4 bp −$1,142	24.6 bp −$12.3K
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5507	+0.323%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0001% / S +0.0114%	1h	1.5466	+0.059%	$848K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5497	+0.258%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5467	+0.065%	$9.5M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5466	+0.058%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.666%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0042%	1h	1.5463	+0.036%	$15.4M	$68.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5465	+0.052%	$78K	$910K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5454	−0.020%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5461	+0.026%	$440K	$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
Nado XRP-PERP	+0.0100%	1h	1.5481	+0.159%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5455	−0.010%	$39.2M	$79.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5502	+0.293%	$638K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5471	+0.091%	$556.9M	$1.99B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5457	long leg	$343.8M	$901.7M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5458	+0.006%	$127.0M	$878.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5467	+0.065%	$578K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5494	+0.239%	$119K	$745K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	+0.287%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5456	−0.006%	$362.3M	$141.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5459	+0.013%	$296.9M	$867.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5456	−0.005%	$113.0M	$160.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5457	0.000%	$269.7M	$365.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5468	+0.071%	—	$119.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5501	+0.287%	$11.8M	$30.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5508	+0.330%	$673K	$101.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5528	+0.459%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5520	+0.408%	$1.0M	$884K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5483	+0.166%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5479	+0.142%	$46K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5469	+0.078%	$42K	$66K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5466	+0.061%	$832K	$81K	10x
SunX XRP-USDT	+0.0100%	8h	1.5480	+0.152%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5463	+0.039%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5466	+0.058%	$50.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5453	−0.026%	$55.0M	$29.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5495	+0.247%	$483K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5482	+0.162%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5455	−0.011%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5465	+0.052%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5485	+0.181%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5472	+0.094%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5470	+0.084%	$5.9M	$47.2M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5514	+0.369%	$24.6M	$73.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5505	+0.307%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0291%	1h	1.5461	+0.026%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5506	+0.317%	$1.9M	$33.2M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5500	+0.278%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5490	+0.216%	$507K	$631K	10x	as long as short
Hyperliquid XRP	+0.0580%	1h	1.5473	+0.104%	$289.2M	$204.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0774%	1h	1.5520	+0.406%	$1K	$11K	10x	as long as short