Funding you earn now, next payment 23:00 UTC+0.0242%/8h= +26.5% APRnext payment +$0.30 per $10,000 · paid last 24h +0.034%
Price spread now: Backpack against Injective+1.668%72s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.047%−$5 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Backpack is 1.668% dearer against Injective than usual: you sell high and buy low: +$167 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 72 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.047% in total (about -2.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective XRP/USDC PERP | 1.5290 | 0.0033 | pay 0.0004% / 1h | 26m 02s | $2K | $86K | 30x |
| Short | Backpack XRP_USDC_PERP | 1.5545 | 0.0275 | get 0.0034% / 1h | 26m 02s | $1.8M | $1.0M | 25x |
Injective XRP/USDC PERP
Backpack XRP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $50.74
- Price spread: +1.668% → 0.000%
- $166.78
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $207.5
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Backpack: live order book, 3 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack live order book, 3 min ago | 0.32 bp | 5.3 bp −$5 | 7.3 bp −$73 | doesn't fit | doesn't fit |
Injective: 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 | 1.5535 | +1.602% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5520 | +1.503% | $1.1M | $114K | 10x | as long as short |
| Deribit XRP_USDC-PERPETUAL | 0.0000% | 1h | 1.5538 | +1.622% | $9.5M | $25.3M | 50x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5540 | +1.637% | $260K | — | 150x | as long as short |
| Injective XRP/USDC PERPlong | +0.0033% | 1h | 1.5290 | long leg | $2K | $86K | 30x | |
| Kraken Futures PF_XRPUSD | +0.0041% | 1h | 1.5532 | +1.585% | $15.4M | $68.8M | 50x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0052% / S +0.0123% | 1h | 1.5538 | +1.619% | $1.1M | — | 200x | as long as short |
| Orderly PERP_XRP_USDC | +0.0054% | 8h | 1.5540 | +1.635% | $76K | $946K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5536 | +1.610% | $3.0M | $12.1M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5538 | +1.622% | $440K | $3.2M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Deribit XRP_USDC-PERPETUAL
gTrade (Gains Network) XRP/USD
Kraken Futures PF_XRPUSD
GMX XRP/USD [ETH-USDC]
Orderly PERP_XRP_USDC
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5545 | +1.671% | $1.1M | $5.4M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5533 | +1.590% | $39.5M | $78.3M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5529 | +1.563% | $639K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5547 | +1.681% | $559.4M | $1.97B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5547 | +1.681% | $347.7M | $893.5M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5543 | +1.655% | $127.6M | $878.6M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5528 | +1.557% | $578K | $41K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5530 | +1.570% | $118K | $740K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5533 | +1.589% | $373.8M | $140.1M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5533 | +1.589% | $293.0M | $851.8M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5531 | +1.579% | $113.4M | $158.7M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5545 | +1.668% | $271.2M | $362.6M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5536 | +1.609% | — | $117.7M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5485 | +1.272% | $11.7M | $30.1M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5495 | +1.343% | $675K | $101.4M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5534 | +1.594% | $1.1M | $41.2M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5504 | +1.400% | $1.0M | $882K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5533 | +1.590% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5544 | +1.661% | $46K | $445K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5539 | +1.628% | $42K | $65K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5545 | +1.665% | $837K | $79K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5542 | +1.646% | $130K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5533 | +1.589% | $32K | $1.9M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5536 | +1.611% | $51.0M | $15.4M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5538 | +1.622% | $55.3M | $29.2M | 50x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5477 | +1.221% | $1.7M | $578K | 20x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5522 | +1.515% | $484K | $54K | 50x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5535 | +1.602% | $12K | $259K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5541 | +1.640% | $2.1M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5540 | +1.633% | $72K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0176% | 1h | 1.5542 | +1.648% | $8K | $8K | 10x | as long as short |
| Hibachi XRP/USDT-P | +0.0184% | 1h | 1.5531 | +1.577% | $18K | $82K | 7x | as long as short |
| Reya XRPRUSDPERP | +0.0211% | 1h | 1.5538 | +1.620% | $1.4M | $9K | 15x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0216% | 1h | 1.5545 | +1.668% | $5.8M | $47.2M | 50x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5529 | +1.563% | $24.7M | $73.6M | 125x | as long as short |
| Backpack XRP_USDC_PERPshort | +0.0275% | 1h | 1.5545 | +1.668% | $1.8M | $1.0M | 25x | |
| Kalshi KXXRPPERP | +0.0320% | 8h | 1.5549 | +1.694% | $1.9M | $32.8M | 2.9x | as long as short |
| Phoenix XRP | +0.0516% | 1h | 1.5480 | +1.243% | $69K | $90K | 15x | as long as short |
| RISEx XRP/USDC | +0.0527% | 1h | 1.5544 | +1.659% | $509K | $629K | 10x | as long as short |
| Hyperliquid XRP | +0.0601% | 1h | 1.5555 | +1.733% | $291.4M | $202.8M | 20x | as long as short |
| Aftermath Perps XRPUSD | +0.0734% | 1h | 1.5542 | +1.647% | $1K | $11K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Bulk XRP-USD
Paradex XRP-USD-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Hibachi XRP/USDT-P
Reya XRPRUSDPERP
Coinbase International XRP-PERP-INTX
BloFin XRP-USDT
Kalshi KXXRPPERP
Phoenix XRP
RISEx XRP/USDC
Hyperliquid XRP
Aftermath Perps XRPUSD