Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0114%/8h= +12.5% APRpaid last 24h +0.031%

Price spread now: Reya against Bybit+0.062%7-day average −0.022% · you sell dearer than you buy

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

Long on Bybit Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.110%+$11 on $10k

Price spread, last 7 days−0.085%−$8 · spread now +0.062%, 7d avg −0.022%

Together, before fees+0.025%+ Points / potential airdropReya: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Reya is 0.084% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5095	0.0100	pay 0.0100% / 8h	6h 39m	$336.8M	$945.1M	100x
Short	Reya XRPRUSDPERP	1.5104	0.0214	get 0.0027% / 1h	39m 08s	$1.3M	$7K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.062%Rate

Funding earned: $23.91
Price spread: +0.062% → −0.022%: $8.36
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Reya: 3 bp × 2 orders: −$6
Net: $15.27
Costs to cover: 0.170%
Break-even: 2.5 days

Slippage unknown: Bybit: live order book, 5 min ago; Reya: 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, 5 min ago	0.33 bp	6.5 bp −$6	8.1 bp −$81	13.8 bp −$1,384	27.2 bp −$13.6K
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	1.5060	−0.232%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5091	−0.024%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5110	+0.099%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5083	−0.082%	$261K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0024% / S +0.0063%	1h	1.5081	−0.094%	$827K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.080%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5080	−0.102%	$14.4M	$72.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0070%	8h	1.5082	−0.086%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0082%	1h	1.5083	−0.079%	$7.6M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5082	−0.088%	$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	1.5086	−0.060%	$515K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5080	−0.099%	$10K	$306K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5107	+0.083%	$778K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5102	+0.048%	$38.4M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5102	+0.047%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5089	−0.043%	$535.8M	$2.11B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5095	long leg	$336.8M	$945.1M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5095	0.000%	$123.5M	$871.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5098	+0.020%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5089	−0.040%	$115K	$725K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.582%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5093	−0.013%	$366.4M	$150.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5091	−0.026%	$285.7M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5080	−0.098%	$106.7M	$172.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5093	−0.013%	$264.9M	$386.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5086	−0.060%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5098	+0.021%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5152	+0.381%	$658K	$108.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5080	−0.098%	$1.1M	$38.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5163	+0.450%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5103	+0.050%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5107	+0.079%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5091	−0.024%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5083	−0.081%	$812K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5086	−0.062%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5083	−0.079%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5092	−0.020%	$49.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5088	−0.046%	$53.6M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5093	−0.011%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5077	−0.118%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5082	−0.089%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5095	0.000%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0183%	1h	1.5098	+0.020%	$279.1M	$220.6M	20x	as long as short
Reya XRPRUSDPERPshort	+0.0214%	1h	1.5104	+0.062%	$1.3M	$7K	15x
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5088	−0.046%	$5.7M	$46.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.649%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5062	−0.219%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0330%	1h	1.5097	+0.013%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5099	+0.026%	$2.1M	$36.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5092	−0.019%	$534K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0800%	1h	1.5124	+0.194%	$2K	$14K	10x	as long as short