Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h +0.012%

Price spread now: Orderly against edgeX−0.033%71s7-day average +0.012% · you buy dearer than you sell

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

Long on edgeX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.067%+$7 on $10k

Price spread, last 4 days (all we have)+0.078%+$8 · spread now −0.033%, 7d avg +0.012%

Together, before fees+0.145%+ Points / potential airdropedgeX: Active · farm board+$14 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: Orderly is 0.044% cheaper against edgeX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.012%. The two prices were read 71 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	edgeX XRPUSDC	1.5208	0.0100	pay 0.0050% / 4h	3h 45m	$660K	$109.5M	30x
Short	Orderly PERP_XRP_USDC	1.5203	0.0099	get 0.0099% / 8h	3h 45m	$62K	$934K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.033%Rate

Funding earned: −$0.22
Price spread: −0.033% → +0.012%: −$4.45
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$19.67
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 3 min ago; Orderly: 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 edgeX live order book, 3 min ago	1.32 bp	5.8 bp −$6	6.5 bp −$65	34.5 bp −$3,454	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5206	−0.013%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5203	−0.034%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5201	−0.046%	$262K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5205	−0.019%	$7.8M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5199	−0.057%	$14.4M	$74.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.315%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0051% / S +0.0015%	1h	1.5201	−0.046%	$780K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5205	−0.018%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5202	−0.039%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5197	−0.072%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDCshort	+0.0099%	8h	1.5203	−0.033%	$62K	$934K	50x
Nado XRP-PERP	+0.0100%	1h	1.5206	−0.010%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5201	−0.043%	$38.4M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5203	−0.033%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5202	−0.036%	$534.5M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5202	−0.039%	$346.8M	$941.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5203	−0.033%	$127.3M	$887.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5232	+0.158%	$566K	$29K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5201	−0.046%	$118K	$702K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.177%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5204	−0.026%	$371.6M	$153.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5204	−0.026%	$293.2M	$899.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5209	+0.006%	$108.9M	$176.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5200	−0.052%	$269.2M	$388.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5207	−0.006%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5202	−0.040%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5208	long leg	$660K	$109.5M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5208	+0.001%	$1.1M	$36.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5214	+0.040%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5206	−0.015%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5207	−0.006%	$45K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5203	−0.033%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5205	−0.023%	$818K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5201	−0.044%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5203	−0.033%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5202	−0.037%	$49.7M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	−0.039%	$54.2M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5200	−0.055%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5203	−0.031%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5202	−0.037%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5204	−0.026%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5207	−0.006%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5201	−0.044%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5212	+0.027%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5214	+0.038%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0277%	8h	1.5212	+0.027%	$2.0M	$35.1M	2.9x	as long as short
Hyperliquid XRP	+0.0298%	1h	1.5214	+0.040%	$292.6M	$234.6M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0303%	1h	1.5209	+0.007%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5203	−0.035%	$518K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	+0.079%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0650%	1h	1.5212	+0.029%	$2K	$15K	10x	as long as short