XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0080%/8h= +8.8% APRnext payment +$0.10 per $10,000 · paid last 24h −0.009%

Price spread now: Backpack against Coinbase International−0.006%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$280.284% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.006%, 7d avg +0.015%

Together, before fees+0.175%+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.022% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.006% now, against its 7-day average of +0.015%). If the spread goes back, that is −$2 on $10k: about 22 hours of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.053% in total) that is about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5573	0.0216	pay 0.0027% / 1h	20m 45s	$5.8M	$47.4M	50x
Short	Backpack XRP_USDC_PERP	1.5572	0.0296	get 0.0037% / 1h	20m 45s	$1.8M	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now −0.006%Rate

Funding earned: $16.85
Price spread: −0.006% → +0.015%: −$2.18
Slippage, 4 orders: −$8.36
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$13.7
Costs to cover: 0.284%
Break-even: 12.7 days

Slippage from Coinbase International: live order book, 3 min ago; Backpack: 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 Coinbase International live order book, 3 min ago	1.28 bp	8.8 bp −$9	11.4 bp −$114	27.3 bp −$2,729	doesn't fit
Sell Backpack live order book, 3 min ago	0.32 bp	5.3 bp −$5	7.3 bp −$73	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	1.5587	+0.090%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5569	−0.028%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5563	−0.064%	$9.6M	$25.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5560	−0.083%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.083%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5565	−0.053%	$15.5M	$68.7M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0053% / S +0.0119%	1h	1.5560	−0.084%	$1.1M	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5562	−0.071%	$78K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5573	−0.001%	$3.0M	$12.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5573	0.000%	$441K	$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	1.5553	−0.128%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5577	+0.024%	$39.5M	$78.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5583	+0.064%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5571	−0.012%	$560.1M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5571	−0.013%	$348.0M	$898.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5570	−0.019%	$127.8M	$882.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5556	−0.109%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5573	0.000%	$119K	$742K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5572	−0.006%	$374.5M	$140.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5575	+0.013%	$297.3M	$856.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5573	−0.001%	$114.1M	$159.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5573	0.000%	$272.0M	$363.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5571	−0.013%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5537	−0.234%	$11.7M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5544	−0.184%	$676K	$101.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5571	−0.013%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5557	−0.103%	$1.0M	$883K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5562	−0.072%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5560	−0.083%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5561	−0.077%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5564	−0.060%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5564	−0.060%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5561	−0.077%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5557	−0.105%	$51.1M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5564	−0.058%	$55.4M	$29.1M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5477	−0.619%	$1.7M	$578K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5574	+0.007%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5570	−0.019%	$11K	$260K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5569	−0.023%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5559	−0.087%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5572	−0.006%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5566	−0.048%	$18K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5557	−0.105%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0216%	1h	1.5573	long leg	$5.8M	$47.4M	50x
BloFin XRP-USDT	+0.0220%	8h	1.5570	−0.019%	$24.5M	$74.0M	125x	as long as short
Backpack XRP_USDC_PERPshort	+0.0296%	1h	1.5572	−0.006%	$1.8M	$1.0M	25x
Kalshi KXXRPPERP	+0.0323%	8h	1.5588	+0.096%	$1.9M	$33.0M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5560	−0.083%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5580	+0.042%	$510K	$630K	10x	as long as short
Hyperliquid XRP	+0.0599%	1h	1.5592	+0.122%	$292.0M	$202.9M	20x	as long as short
Aftermath Perps XRPUSD	+0.0747%	1h	1.5563	−0.066%	$1K	$11K	10x	as long as short