Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0240%/8hnext payment +$0.30 per $10,000 · paid last 24h +0.056%

Price spread now: Hibachi against Deribit+0.120%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Hibachi is 0.120% dearer against Deribit than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5052	0	get 0.0000% / 1h	23m 07s	$8.7M	$22.3M	50x
Short	Hibachi XRP/USDT-P	1.5070	0.0240	get 0.0030% / 1h	23m 07s	$19K	$37K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now +0.120%Rate

Funding earned: $50.4
Price spread: +0.120% → 0.000%: $11.98
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $46.38
Costs to cover: 0.160%
Break-even: 0.6 days

Slippage unknown: Deribit: live order book, just now; Hibachi: no order-book sample. Net counts fees only.

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, just now	1.99 bp	13.7 bp −$14	22.0 bp −$220	doesn't fit	doesn't fit
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
GMX XRP/USD [ETH-USDC]	L −0.0208% / S +0.0294%	1h	1.5045	−0.048%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5034	−0.120%	$6K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5033	−0.129%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5052	long leg	$8.7M	$22.3M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5048	−0.025%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.4090	−6.391%	$2K	$33K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5042	−0.066%	$179K	$779K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5050	−0.014%	$2.9M	$10.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5054	+0.013%	$579K	$2.4M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5042	−0.066%	$12K	$243K	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	1.5029	−0.156%	$1.0M	$5.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5040	−0.077%	$38.2M	$68.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5034	−0.118%	$664K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5047	−0.031%	$531.9M	$1.74B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5049	−0.020%	$339.2M	$781.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5048	−0.027%	$125.5M	$789.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5017	−0.233%	$558K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5051	−0.007%	$111K	$611K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.4992	−0.397%	$1.6M	$138K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5046	−0.040%	$350.4M	$126.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5047	−0.033%	$311.3M	$759.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5047	−0.037%	$111.2M	$137.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5046	−0.040%	$259.4M	$320.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5048	−0.027%	—	$104.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5003	−0.323%	$6.9M	$20.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5045	−0.049%	$654K	$88.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5081	+0.195%	$1.1M	$40.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5057	+0.033%	$1.0M	$790K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5044	−0.051%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5042	−0.066%	$50K	$421K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5043	−0.062%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5046	−0.040%	$811K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5049	−0.019%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5047	−0.033%	$31K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5038	−0.094%	$49.6M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5049	−0.020%	$54.1M	$26.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5034	−0.119%	$469K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5045	−0.050%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5043	−0.063%	$72K	$39K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5050	−0.013%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0164%	8h	1.5043	−0.060%	$1.7M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0195%	1h	1.5057	+0.033%	$1.7M	$912K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0208%	1h	1.5056	+0.027%	$5.2M	$39.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0209%	1h	1.5039	−0.086%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5049	−0.020%	$23.5M	$59.6M	125x	as long as short
Hibachi XRP/USDT-Pshort	+0.0240%	1h	1.5070	+0.120%	$19K	$37K	7x
Kraken Futures PF_XRPUSD	+0.0264%	1h	1.5049	−0.019%	$15.3M	$55.7M	50x	as long as short
Hyperliquid XRP	+0.0413%	1h	1.5061	+0.060%	$274.2M	$158.7M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5050	−0.011%	$409K	$477K	10x	as long as short
Aftermath Perps XRPUSD	+0.0528%	1h	1.5035	−0.111%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5040	−0.080%	$67K	$89K	15x	as long as short