Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.003%

Price spread now: edgeX against Deribit−0.242%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$210.208% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.242%, 7d avg −0.040%

Together, before fees−0.096%+ Points / potential airdropedgeX: Active · farm board−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.202% cheaper against Deribit than usual: you would sell low and buy high (spread −0.242% now, against its 7-day average of −0.040%). If the spread goes back, that is −$20 on $10k: about 34 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.224%, 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	1.5175	0.0080	pay 0.0010% / 1h	7m 07s	$7.7M	$25.5M	50x
Short	edgeX XRPUSDC	1.5138	0.0100	get 0.0050% / 4h	2h 07m	$657K	$113.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.242%Rate

Funding earned: $4.2
Price spread: −0.242% → −0.040%: −$20.17
Slippage, 4 orders: −$4.81
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$36.79
Costs to cover: 0.208%
Break-even: 68.3 days

Slippage from Deribit: live order book, 2 min ago; edgeX: 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	5.5 bp −$5	7.7 bp −$77	44.6 bp −$4,458	doesn't fit
Sell edgeX live order book, 2 min ago	0.99 bp	5.5 bp −$5	5.6 bp −$56	10.0 bp −$1,001	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	1.5172	−0.020%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5166	−0.058%	$14.4M	$74.9M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5164	−0.076%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5180	+0.033%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5171	−0.026%	$245K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.537%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0074% / S −0.0018%	1h	1.5170	−0.032%	$800K	—	200x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0080%	1h	1.5175	long leg	$7.7M	$25.5M	50x
01 Exchange XRPUSD	+0.0088%	1h	1.5174	−0.007%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5170	−0.031%	$2.8M	$15.1M	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	1.5163	−0.079%	$548K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5166	−0.059%	$11K	$362K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5169	−0.038%	$1.0M	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5163	−0.078%	$38.5M	$87.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5169	−0.041%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5161	−0.095%	$527.0M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5158	−0.112%	$344.7M	$965.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5160	−0.099%	$126.5M	$890.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5137	−0.250%	$563K	$35K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5178	+0.020%	$143K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5132	−0.284%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5160	−0.099%	$374.7M	$161.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5159	−0.105%	$298.6M	$928.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5171	−0.024%	$107.2M	$181.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5160	−0.099%	$266.6M	$399.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5164	−0.072%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	−0.212%	$4.6M	$38.4M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5138	−0.242%	$657K	$113.8M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5148	−0.178%	$1.1M	$37.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	−0.185%	$1.2M	$1.2M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5176	+0.007%	$51K	$488K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5171	−0.025%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5173	−0.013%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5174	−0.007%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5171	−0.026%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5165	−0.066%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5174	−0.009%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5166	−0.059%	$54.1M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5174	−0.008%	$473K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5173	−0.013%	—	$15K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5164	−0.071%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5169	−0.042%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0144%	1h	1.5174	−0.007%	$289.8M	$263.9M	20x	as long as short
Hibachi XRP/USDT-P	+0.0176%	1h	1.5173	−0.011%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5171	−0.026%	$5.7M	$48.6M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0209%	1h	1.5172	−0.020%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5174	−0.007%	$1.7M	$35.5M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5169	−0.038%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5165	−0.066%	$23.2M	$77.5M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5175	+0.002%	$518K	$790K	10x	as long as short
Aftermath Perps XRPUSD	+0.0584%	1h	1.5140	−0.232%	$2K	$16K	10x	as long as short