Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Bybit+0.086%7-day average −0.002% · 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−$12as in the Price arb table

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

Long on Bybit Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.192%−$19 · spread now +0.086%, 7d avg −0.002%

Together, before fees−0.194%−$19 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: SoDEX is 0.088% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.002%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5162	0.0100	pay 0.0100% / 8h	3h 17m	$345.0M	$945.9M	100x
Short	SoDEX XRP-USD	1.5175	0.0100	get 0.0013% / 1h	17m 19s	$30K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.086%Rate

Funding earned: $0
Price spread: +0.086% → −0.002%: $8.79
Slippage, 4 orders: −$2.17
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$12.38
Costs to cover: 0.212%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; SoDEX: 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	6.2 bp −$6	8.0 bp −$80	14.1 bp −$1,411	29.6 bp −$14.8K
Sell SoDEX live order book, 2 min ago	0.33 bp	4.3 bp −$4	7.7 bp −$77	doesn't fit	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	1.5167	+0.033%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5179	+0.112%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5171	+0.059%	$259K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5178	+0.106%	$7.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5177	+0.097%	$14.4M	$74.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.625%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5171	+0.057%	$796K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5178	+0.106%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5175	+0.086%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5159	−0.020%	$9K	$351K	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	1.5176	+0.096%	$977K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5172	+0.066%	$38.9M	$85.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5176	+0.094%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5162	+0.003%	$535.4M	$2.16B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5162	long leg	$345.0M	$945.9M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5161	−0.007%	$126.1M	$884.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5163	+0.007%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5169	+0.046%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.016%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5171	+0.059%	$372.5M	$156.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5160	−0.013%	$296.1M	$907.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5169	+0.048%	$109.4M	$178.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5173	+0.073%	$269.3M	$390.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5173	+0.073%	—	$127.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5187	+0.164%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5180	+0.122%	$659K	$110.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5170	+0.052%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5163	+0.007%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5169	+0.044%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5175	+0.086%	$45K	$479K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5171	+0.060%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5172	+0.066%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5173	+0.075%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5178	+0.106%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5175	+0.086%	$30K	$1.7M	10x
HTX XRP-USDT	+0.0100%	8h	1.5174	+0.077%	$49.6M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5167	+0.033%	$54.0M	$31.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5175	+0.088%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5169	+0.048%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5171	+0.061%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5168	+0.040%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5181	+0.125%	$5.7M	$48.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5168	+0.041%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5163	+0.007%	$24.2M	$75.7M	125x	as long as short
Kalshi KXXRPPERP	+0.0250%	8h	1.5182	+0.132%	$1.9M	$35.3M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0252%	1h	1.5183	+0.139%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5167	+0.030%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5168	+0.041%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0409%	1h	1.5177	+0.099%	$298.3M	$251.4M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.185%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0648%	1h	1.5178	+0.108%	$2K	$15K	10x	as long as short