Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.042%

Price spread now: Bybit against edgeX+0.505%7-day average +0.028% · 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+$22as in the Price arb table

costs, in and out, $10k−$260.262% of the position

Long on edgeX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 7 days−0.494%−$49 · spread now +0.505%, 7d avg +0.028%

Together, before fees−0.388%+ Points / potential airdropedgeX: Active · farm board−$39 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.477% dearer against edgeX than usual: you sell high and buy low, +$48 on $10k if it goes back to its 7-day average of +0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XRPUSDC	1.5461	0.0100	pay 0.0050% / 4h	1h 59m	$671K	$96.4M	30x
Short	Bybit XRPUSDT	1.5539	0.0100	get 0.0100% / 8h	1h 59m	$349.9M	$857.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against edgeX. 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 edgeXbpFee BybitbpOrdersPrice spread, now +0.505%Rate

Funding earned: $0
Price spread: +0.505% → +0.028%: $47.74
Slippage, 4 orders: −$6.19
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $21.55
Costs to cover: 0.262%
Break-even: from the start

Slippage from edgeX: live order book, 5 min ago; Bybit: live order book, 5 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 edgeX live order book, 5 min ago	1.30 bp	5.8 bp −$6	6.0 bp −$60	9.3 bp −$928	doesn't fit
Sell Bybit live order book, 5 min ago	0.32 bp	5.9 bp −$6	7.3 bp −$73	15.4 bp −$1,537	29.5 bp −$14.7K

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	1.5495	+0.221%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5491	+0.193%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	−0.200%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5523	+0.403%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.105%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0050%	8h	1.5532	+0.460%	$82K	$935K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0077% / S +0.0159%	1h	1.5522	+0.395%	$915K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5500	+0.252%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5513	+0.337%	$448K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5545	+0.547%	$1.1M	$5.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XRPUSDT	+0.0100%	8h	1.5516	+0.358%	$39.5M	$73.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5512	+0.331%	$677K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5546	+0.551%	$559.2M	$1.89B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5539	+0.505%	$349.9M	$857.3M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5519	+0.376%	$126.4M	$858.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5499	+0.247%	$575K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5543	+0.531%	$122K	$701K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5455	−0.041%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5525	+0.415%	$369.0M	$132.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5507	+0.298%	$283.4M	$809.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5516	+0.356%	$112.2M	$149.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5536	+0.486%	$269.1M	$348.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5528	+0.434%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5465	+0.026%	$6.6M	$24.7M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5461	long leg	$671K	$96.4M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5484	+0.151%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5459	−0.012%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5517	+0.361%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5549	+0.570%	$51K	$437K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5526	+0.421%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5529	+0.439%	$836K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5524	+0.406%	$130K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5517	+0.363%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5520	+0.380%	$51.1M	$15.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5511	+0.324%	$55.4M	$28.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5519	+0.377%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5538	+0.499%	$11K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5534	+0.476%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5522	+0.397%	$72K	$40K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0137%	1h	1.5527	+0.428%	$9.5M	$24.8M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0168%	1h	1.5516	+0.353%	$15.8M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5522	+0.395%	$5.7M	$45.5M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5534	+0.473%	$1.4M	$9K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0216%	1h	1.5524	+0.408%	$1.8M	$956K	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5467	+0.040%	$24.3M	$69.4M	125x	as long as short
01 Exchange XRPUSD	+0.0304%	1h	1.5634	+1.120%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0318%	8h	1.5493	+0.208%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5457	−0.023%	$19K	$66K	7x	as long as short
Hyperliquid XRP	+0.0500%	1h	1.5515	+0.352%	$286.8M	$191.6M	20x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5548	+0.561%	$409K	$524K	10x	as long as short
Aftermath Perps XRPUSD	+0.0531%	1h	1.5437	−0.153%	$1K	$11K	10x	as long as short