Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.028%

Price spread now: Bitget against Deribit−0.109%7-day average −0.024% · 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−$32as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Deribit Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 3 days (all we have)+0.178%+$18 · spread now −0.109%, 7d avg −0.024%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.085% cheaper against Deribit than usual: you would sell low and buy high (spread −0.109% now, against its 7-day average of −0.024%). If the spread goes back, that is −$8 on $10k: about 2.8 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.105%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5569	0	get 0.0000% / 1h	16m 12s	$9.6M	$25.2M	50x
Short	Bitget XRPUSDT	1.5552	0.0100	get 0.0100% / 8h	1h 16m	$271.7M	$364.3M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.109%Rate

Funding earned: $21
Price spread: −0.109% → −0.024%: −$8.48
Slippage, 4 orders: −$4.27
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$10.75
Costs to cover: 0.233%
Break-even: 10.6 days

Slippage from Deribit: live order book, 3 min ago; Bitget: 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 Deribit live order book, 3 min ago	1.29 bp	5.3 bp −$5	7.2 bp −$72	47.5 bp −$4,751	doesn't fit
Sell Bitget live order book, 3 min ago	0.32 bp	6.3 bp −$6	9.6 bp −$96	15.6 bp −$1,556	28.8 bp −$14.4K

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	1.5570	+0.006%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0003% / S +0.0117%	1h	1.5574	+0.030%	$852K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5574	+0.035%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5569	long leg	$9.6M	$25.2M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5574	+0.029%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.058%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5561	−0.053%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5573	+0.026%	$78K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5564	−0.030%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5561	−0.051%	$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	1.5587	+0.119%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5577	+0.054%	$39.5M	$78.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5582	+0.085%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5562	−0.044%	$559.9M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5556	−0.083%	$346.2M	$900.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5553	−0.103%	$127.7M	$881.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5554	−0.096%	$579K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5593	+0.154%	$119K	$744K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	−0.015%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5558	−0.071%	$374.0M	$140.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5560	−0.058%	$299.2M	$860.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5561	−0.052%	$114.0M	$159.8M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5552	−0.109%	$271.7M	$364.3M	125x
BingX XRP-USDC	+0.0100%	8h	1.5560	−0.058%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5549	−0.131%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5567	−0.014%	$676K	$102.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5549	−0.127%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5555	−0.090%	$1.0M	$883K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5577	+0.054%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5587	+0.116%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5576	+0.045%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5576	+0.045%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5573	+0.024%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5566	−0.019%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5582	+0.084%	$51.2M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5563	−0.039%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5579	+0.064%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5584	+0.096%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5565	−0.023%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5573	+0.027%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5594	+0.161%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5581	+0.075%	$1.4M	$9K	15x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5558	−0.071%	$18K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5570	+0.006%	$5.8M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5567	−0.013%	$24.5M	$73.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0294%	1h	1.5563	−0.039%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5592	+0.148%	$1.9M	$33.1M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5550	−0.122%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5602	+0.210%	$511K	$630K	10x	as long as short
Hyperliquid XRP	+0.0593%	1h	1.5576	+0.045%	$291.2M	$204.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0755%	1h	1.5570	+0.006%	$1K	$11K	10x	as long as short