Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0108%/8h= −11.8% APRpaid last 24h −0.040%

Price spread now: Bybit against Hibachi+0.093%7-day average — · you sell dearer than you buy

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

Long on Hibachi Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.267%−$27 on $10k

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

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

The price spread pays, funding is against you. Bybit is 0.093% dearer against Hibachi than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi XRP/USDT-P	1.5128	0.0208	pay 0.0026% / 1h	12m 46s	$17K	$82K	7x
Short	Bybit XRPUSDT	1.5142	0.0100	get 0.0100% / 8h	4h 12m	$346.7M	$935.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hibachi. 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 HibachibpFee BybitbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$22.68
Price spread: +0.093% → 0.000%: $9.25
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$33.43
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Bybit: live order book, 1 min ago. 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 Hibachi no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	0.33 bp	5.8 bp −$6	7.1 bp −$71	9.8 bp −$984	22.4 bp −$11.2K

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
Hotstuff XRP-PERP	−0.0080%	1h	1.5132	+0.026%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5145	+0.111%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5136	+0.052%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.145%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5142	+0.092%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5152	+0.159%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.856%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0045% / S +0.0022%	1h	1.5142	+0.090%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0089%	8h	1.5150	+0.145%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5139	+0.076%	$2.8M	$14.6M	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	1.5142	+0.093%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5145	+0.112%	$11K	$329K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5148	+0.135%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5150	+0.145%	$280.3M	$227.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5138	+0.066%	$38.3M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5141	+0.084%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5139	+0.073%	$534.0M	$2.12B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5142	+0.093%	$346.7M	$935.3M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5142	+0.093%	$126.2M	$873.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5132	+0.026%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5153	+0.165%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5130	+0.016%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5137	+0.059%	$369.0M	$154.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5140	+0.079%	$293.4M	$902.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5139	+0.076%	$107.8M	$174.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5137	+0.059%	$267.9M	$384.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5140	+0.079%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5137	+0.058%	$5.2M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5141	+0.087%	$658K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5137	+0.057%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5155	+0.178%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5144	+0.104%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5146	+0.119%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5142	+0.095%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5151	+0.151%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5153	+0.167%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5148	+0.132%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5146	+0.120%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5147	+0.126%	$54.0M	$30.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5141	+0.086%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5133	+0.035%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5147	+0.129%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5154	+0.172%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0184%	1h	1.5151	+0.152%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5154	+0.172%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-Plong	+0.0208%	1h	1.5128	long leg	$17K	$82K	7x
Reya XRPRUSDPERP	+0.0216%	1h	1.5144	+0.107%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5142	+0.093%	$24.2M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5152	+0.159%	$2.1M	$34.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5154	+0.173%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0678%	1h	1.5148	+0.134%	$2K	$15K	10x	as long as short