Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0021%/8h= −2.3% APRpaid last 24h +0.007%

Price spread now: Deribit against edgeX+0.181%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on edgeX Short on Deribit

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)−0.316%−$32 · spread now +0.181%, 7d avg +0.044%

Together, before fees−0.092%+ Points / potential airdropedgeX: Active · farm board−$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.136% dearer against edgeX than usual: you sell high and buy low (spread +0.181% now, against its 7-day average of +0.044%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 22 days. Mind the row above: over the last 7 days funding on this pair paid +0.224%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XRPUSDC	1.5177	0.0100	pay 0.0050% / 4h	1h 29m	$659K	$109.3M	30x
Short	Deribit XRP_USDC-PERPETUAL	1.5204	0.0079	get 0.0010% / 1h	29m 33s	$7.7M	$25.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.181%Rate

Funding earned: −$4.41
Price spread: +0.181% → +0.044%: $13.64
Slippage, 4 orders: −$3.82
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$10.59
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from edgeX: live order book, 5 min ago; Deribit: 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	0.99 bp	5.5 bp −$5	5.5 bp −$55	8.9 bp −$891	doesn't fit
Sell Deribit live order book, 5 min ago	0.33 bp	4.4 bp −$4	5.5 bp −$55	33.4 bp −$3,337	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	1.5187	+0.069%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	+0.078%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5195	+0.121%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.526%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0043%	1h	1.5196	+0.130%	$821K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5181	+0.029%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5196	+0.128%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0079%	1h	1.5204	+0.181%	$7.7M	$25.3M	50x
Lighter XRP	+0.0096%	1h	1.5186	+0.064%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5189	+0.082%	$513K	$3.3M	20x	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	1.5172	−0.030%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5203	+0.177%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5200	+0.154%	$281.7M	$221.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5190	+0.090%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5187	+0.069%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5182	+0.036%	$538.2M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5186	+0.062%	$344.9M	$927.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5188	+0.075%	$126.0M	$869.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5171	−0.037%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5187	+0.069%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.135%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5186	+0.062%	$370.2M	$152.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5191	+0.095%	$292.0M	$898.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5186	+0.060%	$108.5M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5186	+0.062%	$268.1M	$380.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5184	+0.049%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	+0.144%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5177	long leg	$659K	$109.3M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5214	+0.245%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	+0.207%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5201	+0.163%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5202	+0.167%	$43K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5199	+0.148%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5197	+0.135%	$818K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5207	+0.197%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5201	+0.161%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5202	+0.165%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	+0.167%	$54.1M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	+0.074%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5181	+0.030%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5198	+0.142%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5208	+0.207%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5194	+0.114%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5202	+0.167%	$5.6M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	+0.214%	$24.2M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5197	+0.136%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0272%	1h	1.5199	+0.146%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5217	+0.266%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5187	+0.068%	$517K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.088%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0681%	1h	1.5178	+0.011%	$2K	$14K	10x	as long as short