Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: Binance against Injective−2.440%67s7-day average +0.210% · you buy dearer than you sell

Net, funding: paid 7d − costs−$121as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1031.031% of the position

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.178%−$18 on $10k

Price spread, last 4 days (all we have)+3.394%+$339 · spread now −2.440%, 7d avg +0.210%

Together, before fees+3.216%+$322 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 2.651% cheaper against Injective than usual: you would sell low and buy high (spread −2.440% now, against its 7-day average of +0.210%). If the spread goes back, that is −$265 on $10k: about 4 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.178%, so the current rate has only just turned in your favour. The two prices were read 67 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	Injective XRP/USDC PERP	1.5560	0.0033	pay 0.0004% / 1h	8m 10s	$2K	$107K	30x
Short	Binance XRPUSDT	1.5180	0.0100	get 0.0100% / 8h	5h 08m	$536.0M	$2.10B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now −2.440%Rate

Funding earned: $14
Price spread: −2.440% → +0.210%: −$265.07
Slippage, 4 orders: −$93.12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: −$354.21
Costs to cover: 1.031%
Break-even: 184.1 days

Slippage from Injective: live order book, 55 min ago; Binance: live order book, 6 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 Injective live order book, 55 min ago	46.21 bp	46.2 bp −$46	59.4 bp −$594	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	0.33 bp	5.4 bp −$5	6.7 bp −$67	11.7 bp −$1,168	23.9 bp −$11.9K

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	1.5179	−2.449%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5184	−2.416%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5183	−2.423%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5181	−2.436%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0037%	1h	1.5179	−2.451%	$833K	—	200x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
01 Exchange XRPUSD	+0.0064%	1h	1.5178	−2.455%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5183	−2.423%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5182	−2.432%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5184	−2.416%	$512K	$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	1.5174	−2.481%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5175	−2.471%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5189	−2.384%	$282.3M	$223.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5174	−2.482%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5185	−2.413%	$610K	$1.1M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5180	−2.440%	$536.0M	$2.10B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5180	−2.442%	$346.2M	$930.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5178	−2.455%	$125.9M	$872.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5180	−2.442%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5184	−2.416%	$114K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	−2.166%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5175	−2.474%	$368.7M	$154.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5181	−2.436%	$298.8M	$904.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5183	−2.425%	$108.7M	$171.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5182	−2.429%	$269.5M	$381.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5179	−2.449%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5200	−2.317%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5202	−2.302%	$660K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5227	−2.140%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5221	−2.179%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5181	−2.438%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5180	−2.442%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5181	−2.436%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5182	−2.428%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5190	−2.378%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5180	−2.442%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5179	−2.449%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5180	−2.442%	$53.9M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5190	−2.377%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5176	−2.465%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5180	−2.439%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0186%	1h	1.5193	−2.359%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5207	−2.271%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5176	−2.469%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5189	−2.384%	$5.6M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5191	−2.371%	$24.3M	$75.5M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5180	−2.443%	$14.4M	$73.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0344%	8h	1.5186	−2.404%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5182	−2.427%	$517K	$778K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	−2.185%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0659%	1h	1.5205	−2.279%	$2K	$14K	10x	as long as short