Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.084%

Price spread now: Bybit against Hyperliquid−0.070%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.167%−$17 on $10k

Price spread, last 7 days+0.061%+$6 · spread now −0.070%, 7d avg −0.046%

Together, before fees−0.106%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 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 0.024% cheaper against Hyperliquid than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5147	0.0100	pay 0.0013% / 1h	37m 12s	$280.2M	$220.3M	20x
Short	Bybit XRPUSDT	1.5136	0.0100	get 0.0100% / 8h	5h 37m	$343.4M	$925.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hyperliquid. 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 HyperliquidbpFee BybitbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → −0.046%: −$2.38
Slippage, 4 orders: −$2.05
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.43
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Bybit: live order book, 2 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 Hyperliquid live order book, 7 min ago	0.33 bp	4.9 bp −$5	7.2 bp −$72	12.4 bp −$1,241	doesn't fit
Sell Bybit live order book, 2 min ago	0.33 bp	6.5 bp −$6	7.5 bp −$75	13.5 bp −$1,355	25.9 bp −$13.0K

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	1.5117	−0.196%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5118	−0.186%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5132	−0.097%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0032% / S +0.0046%	1h	1.5131	−0.105%	$816K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.729%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5123	−0.156%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5131	−0.103%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5134	−0.083%	$7.6M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5136	−0.069%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5137	−0.064%	$509K	$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	1.5113	−0.222%	$9K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5131	−0.100%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRPlong	+0.0100%	1h	1.5147	long leg	$280.2M	$220.3M	20x
Aster XRPUSDT	+0.0100%	8h	1.5135	−0.075%	$38.4M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5118	−0.188%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5139	−0.048%	$536.6M	$2.09B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5136	−0.070%	$343.4M	$925.6M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5138	−0.057%	$125.5M	$865.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5112	−0.229%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5124	−0.149%	$114K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5136	−0.073%	$1.6M	$88K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5137	−0.064%	$368.9M	$151.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5139	−0.050%	$293.4M	$896.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5135	−0.079%	$106.6M	$171.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5134	−0.083%	$266.3M	$380.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5138	−0.057%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5121	−0.172%	$5.6M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5123	−0.158%	$657K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5119	−0.180%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5120	−0.176%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5130	−0.110%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5137	−0.064%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5132	−0.094%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5134	−0.082%	$814K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5123	−0.159%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5133	−0.090%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5130	−0.109%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5141	−0.037%	$53.9M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5123	−0.157%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5128	−0.123%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5130	−0.113%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5144	−0.017%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5130	−0.110%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5137	−0.064%	$5.6M	$46.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5139	−0.050%	$24.2M	$74.7M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5132	−0.097%	$14.5M	$73.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5119	−0.182%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0352%	8h	1.5134	−0.083%	$2.2M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5127	−0.130%	$515K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	−0.110%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0706%	1h	1.5127	−0.128%	$2K	$14K	10x	as long as short