Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0143%/8h= +15.7% APRpaid last 24h +0.063%

Price spread now: BloFin against Deribit+0.131%57s7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$230.231% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 3 days (all we have)−0.173%−$17 · spread now +0.131%, 7d avg −0.014%

Together, before fees−0.105%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.144% dearer against Deribit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of −0.014%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5310	0.0077	pay 0.0010% / 1h	50m 01s	$9.3M	$25.5M	50x
Short	BloFin XRP-USDT	1.5330	0.0220	get 0.0220% / 8h	7h 50m	$23.9M	$74.5M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.131%Rate

Funding earned: $30.03
Price spread: +0.131% → −0.014%: $14.42
Slippage, 4 orders: −$4.12
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $21.33
Costs to cover: 0.231%
Break-even: 2.0 days

Slippage from Deribit: live order book, 4 min ago; BloFin: live order book, 4 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, 4 min ago	1.62 bp	5.3 bp −$5	7.5 bp −$75	47.5 bp −$4,749	doesn't fit
Sell BloFin live order book, 4 min ago	0.32 bp	6.3 bp −$6	6.5 bp −$65	11.7 bp −$1,168	24.7 bp −$12.3K

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	1.5317	+0.046%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5316	+0.038%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5312	+0.012%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0009% / S +0.0086%	1h	1.5310	−0.001%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.633%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5306	−0.026%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0077%	1h	1.5310	long leg	$9.3M	$25.5M	50x
Lighter XRP	+0.0096%	1h	1.5311	+0.005%	$2.9M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5318	+0.052%	$511K	$3.2M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5328	+0.118%	$8K	$8K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5327	+0.111%	$11K	$276K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5317	+0.047%	$478K	$54K	50x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5310	0.000%	$38.7M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5322	+0.081%	$633K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5313	+0.020%	$538.5M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5313	+0.020%	$340.6M	$929.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5313	+0.020%	$124.8M	$880.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	+0.065%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5325	+0.098%	$116K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	+0.176%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5312	+0.013%	$373.5M	$148.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5314	+0.026%	$296.2M	$894.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5310	−0.001%	$108.6M	$167.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5312	+0.013%	$268.4M	$376.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5313	+0.020%	—	$123.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5329	+0.125%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5392	+0.534%	$668K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5387	+0.503%	$1.1M	$39.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5397	+0.568%	$1.0M	$906K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5324	+0.088%	$1.0M	$5.6M	20x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5323	+0.083%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5322	+0.078%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5313	+0.020%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5306	−0.024%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5317	+0.047%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5311	+0.007%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5302	−0.053%	$50.2M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5314	+0.026%	$54.5M	$29.8M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5309	−0.004%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5305	−0.031%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5311	+0.009%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5330	+0.131%	$23.9M	$74.5M	125x
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5317	+0.046%	$5.8M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0244%	1h	1.5319	+0.059%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5308	−0.012%	$14.5M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5393	+0.540%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5328	+0.118%	$2.0M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0436%	1h	1.5326	+0.105%	$290.6M	$215.7M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5400	+0.588%	$69K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0797%	1h	1.5357	+0.304%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5328	+0.119%	$506K	$755K	10x	as long as short