XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0165%/8h= +18.1% APRnext payment +$0.21 per $10,000 · paid last 24h +0.050%

Price spread now: Backpack against Deribit−0.026%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$200.205% of the position

Long on Deribit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.218%+$22 · spread now −0.026%, 7d avg +0.019%

Together, before fees+0.205%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.045% cheaper against Deribit than usual: you would sell low and buy high (spread −0.026% now, against its 7-day average of +0.019%). If the spread goes back, that is −$5 on $10k: about 22 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5186	0.0013	pay 0.0002% / 1h	21m 40s	$7.7M	$25.5M	50x
Short	Backpack XRP_USDC_PERP	1.5182	0.0178	get 0.0022% / 1h	21m 40s	$2.0M	$1.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Deribit. 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 DeribitbpFee BackpackbpOrdersPrice spread, now −0.026%Rate

Funding earned: $34.72
Price spread: −0.026% → +0.019%: −$4.53
Slippage, 4 orders: −$3.49
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: $9.7
Costs to cover: 0.205%
Break-even: 5.0 days

Slippage from Deribit: live order book, 2 min ago; Backpack: 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 Deribit live order book, 2 min ago	0.33 bp	4.8 bp −$5	7.2 bp −$72	42.0 bp −$4,205	doesn't fit
Sell Backpack live order book, 2 min ago	0.33 bp	5.3 bp −$5	6.4 bp −$64	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	1.5174	−0.079%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5178	−0.053%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5177	−0.062%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	+0.026%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5181	−0.032%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0013%	1h	1.5186	long leg	$7.7M	$25.5M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.463%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0043% / S +0.0025%	1h	1.5180	−0.040%	$792K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0086%	8h	1.5184	−0.013%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5175	−0.072%	$2.8M	$14.6M	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	1.5178	−0.053%	$499K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5182	−0.026%	$11K	$326K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5185	−0.010%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5191	+0.035%	$281.0M	$226.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5178	−0.053%	$38.4M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5175	−0.074%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5172	−0.095%	$535.4M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5170	−0.105%	$347.6M	$934.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5169	−0.112%	$126.3M	$874.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5176	−0.066%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5192	+0.040%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5174	−0.079%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5179	−0.046%	$370.2M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5170	−0.105%	$291.1M	$901.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5180	−0.037%	$108.3M	$174.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5178	−0.053%	$268.6M	$384.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5180	−0.040%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5179	−0.048%	$5.2M	$37.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5183	−0.022%	$661K	$108.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5178	−0.056%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5192	+0.040%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5189	+0.020%	$44K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5182	−0.028%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5186	+0.001%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5193	+0.048%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5182	−0.026%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5176	−0.068%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5173	−0.086%	$54.2M	$30.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5170	−0.108%	$473K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5184	−0.012%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5176	−0.069%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5193	+0.046%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5183	−0.020%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERPshort	+0.0178%	1h	1.5182	−0.026%	$2.0M	$1.4M	25x
Hibachi XRP/USDT-P	+0.0192%	1h	1.5174	−0.081%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5188	+0.013%	$5.6M	$47.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5183	−0.019%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	−0.046%	$24.2M	$76.2M	125x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5184	−0.013%	$2.1M	$34.5M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5193	+0.045%	$517K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0647%	1h	1.5184	−0.012%	$2K	$15K	10x	as long as short