Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.031%

Price spread now: OKX against Coinbase International−0.066%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

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

costs, in and out, $10k−$280.279% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.066%, 7d avg −0.031%

Together, before fees+0.025%+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and OKX is 0.034% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5253	0.0176	pay 0.0022% / 1h	17m 16s	$5.7M	$48.5M	50x
Short	OKX XRP-USDT-SWAP	1.5243	0.0100	get 0.0100% / 8h	1h 17m	$128.2M	$885.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$15.96
Price spread: −0.066% → −0.031%: −$3.45
Slippage, 4 orders: −$7.92
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$47.33
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; OKX: 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 Coinbase International live order book, 2 min ago	0.66 bp	9.1 bp −$9	10.8 bp −$108	26.4 bp −$2,639	doesn't fit
Sell OKX live order book, 2 min ago	0.33 bp	5.3 bp −$5	6.3 bp −$63	13.1 bp −$1,307	30.6 bp −$15.3K

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	1.5255	+0.013%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5249	−0.024%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5260	+0.046%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5250	−0.017%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5248	−0.033%	$7.9M	$24.8M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5244	−0.056%	$14.5M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.013%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0088% / S −0.0041%	1h	1.5251	−0.015%	$787K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5257	+0.024%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5257	+0.026%	$548K	$3.2M	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	+0.0099%	8h	1.5250	−0.020%	$11K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5254	+0.010%	$994K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5248	−0.035%	$38.7M	$87.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5256	+0.020%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5247	−0.037%	$535.0M	$2.23B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5240	−0.085%	$349.8M	$965.3M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5243	−0.066%	$128.2M	$885.9M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5239	−0.092%	$565K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5261	+0.052%	$145K	$716K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5246	−0.046%	$377.8M	$161.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5252	−0.007%	$311.7M	$931.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5252	−0.003%	$108.0M	$182.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5242	−0.072%	$269.5M	$397.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5245	−0.052%	—	$105.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	−0.362%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5231	−0.141%	$662K	$114.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5240	−0.088%	$1.1M	$36.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5204	−0.321%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5255	+0.011%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5255	+0.013%	$66K	$507K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5246	−0.043%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5243	−0.066%	$66K	$746K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5249	−0.024%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5245	−0.052%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5252	−0.009%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5246	−0.046%	$54.6M	$32.5M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5206	−0.308%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5260	+0.045%	$476K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5239	−0.090%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5242	−0.071%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5259	+0.039%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5231	−0.144%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0176%	1h	1.5253	long leg	$5.7M	$48.5M	50x
Backpack XRP_USDC_PERP	+0.0188%	1h	1.5263	+0.066%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0216%	1h	1.5267	+0.089%	$290.9M	$265.3M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5249	−0.027%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5230	−0.151%	$23.7M	$78.2M	125x	as long as short
Kalshi KXXRPPERP	+0.0224%	8h	1.5245	−0.052%	$1.8M	$35.3M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5259	+0.039%	$533K	$802K	10x	as long as short
Aftermath Perps XRPUSD	+0.0653%	1h	1.5226	−0.174%	$2K	$16K	10x	as long as short