Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0356%/8h= +39.0% APRpaid last 24h +0.115%

Price spread now: RISEx against Bybit−0.019%45s7-day average +0.056% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$210.208% of the position

Long on Bybit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.314%+$31 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.019%, 7d avg +0.056%

Together, before fees+0.402%+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.075% cheaper against Bybit than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.056%). If the spread goes back, that is −$8 on $10k: about 17 hours of funding at the current rate (+$11 a day). The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5143	0.0100	pay 0.0100% / 8h	6h 13m	$341.0M	$940.5M	100x
Short	RISEx XRP/USDC	1.5140	0.0456	get 0.0057% / 1h	13m 59s	$529K	$787K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.019%Rate

Funding earned: $74.83
Price spread: −0.019% → +0.056%: −$7.5
Slippage, 4 orders: −$3.81
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee RISEx: 3 bp × 2 orders: −$6
Net: $46.52
Costs to cover: 0.208%
Break-even: 2.6 days

Slippage from Bybit: live order book, 5 min ago; RISEx: live order book, 55 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, 5 min ago	0.33 bp	5.8 bp −$6	6.5 bp −$65	12.6 bp −$1,256	24.5 bp −$12.3K
Sell RISEx live order book, 55 min ago	1.01 bp	4.0 bp −$4	11.1 bp −$111	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	1.5142	−0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5130	−0.088%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.112%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5142	−0.010%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0022% / S +0.0056%	1h	1.5140	−0.020%	$800K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.754%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5147	+0.027%	$14.5M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0073%	8h	1.5146	+0.020%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5149	+0.042%	$2.8M	$14.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5151	+0.053%	$511K	$3.3M	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	+0.0100%	8h	1.5125	−0.119%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5134	−0.056%	$935K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5147	+0.025%	$38.4M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5138	−0.033%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5149	+0.039%	$537.5M	$2.11B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5143	long leg	$341.0M	$940.5M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5145	+0.013%	$124.2M	$872.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5118	−0.165%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5138	−0.033%	$114K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5125	−0.122%	$1.6M	$257K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5145	+0.013%	$368.5M	$152.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5148	+0.033%	$291.3M	$916.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5143	−0.001%	$106.8M	$171.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5145	+0.013%	$266.8M	$384.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5143	0.000%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5120	−0.154%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5134	−0.060%	$657K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5152	+0.062%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5134	−0.059%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5139	−0.026%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5139	−0.026%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5142	−0.003%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5149	+0.041%	$815K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5139	−0.023%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5148	+0.033%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5145	+0.015%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5146	+0.020%	$53.9M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5137	−0.038%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5141	−0.015%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5146	+0.017%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5138	−0.033%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0146%	1h	1.5150	+0.046%	$7.6M	$25.3M	50x	as long as short
Hyperliquid XRP	+0.0182%	1h	1.5154	+0.073%	$280.3M	$222.4M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5137	−0.040%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5152	+0.059%	$5.7M	$46.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5125	−0.118%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0335%	1h	1.5156	+0.086%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0360%	8h	1.5143	0.000%	$2.1M	$35.6M	2.9x	as long as short
RISEx XRP/USDCshort	+0.0456%	1h	1.5140	−0.019%	$529K	$787K	10x
Aftermath Perps XRPUSD	+0.0764%	1h	1.5146	+0.017%	$2K	$14K	10x	as long as short