Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.018%

Price spread now: Bitget against Injective−0.752%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$118as in the Funding arb table

Net, price: spread back to 7d avg − costs−$180as in the Price arb table

costs, in and out, $10k−$1051.046% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 4 days (all we have)+1.704%+$170 · spread now −0.752%, 7d avg +0.004%

Together, before fees+1.573%+$157 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.756% cheaper against Injective than usual: you would sell low and buy high (spread −0.752% now, against its 7-day average of +0.004%). If the spread goes back, that is −$76 on $10k: about 38 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.131%, so the current rate has only just turned in your favour.

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	59m 18s	$2K	$107K	30x
Short	Bitget XRPUSDT	1.5443	0.0100	get 0.0100% / 8h	6h 59m	$273.7M	$360.2M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.752%Rate

Funding earned: $14
Price spread: −0.752% → +0.004%: −$75.6
Slippage, 4 orders: −$92.56
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$166.18
Costs to cover: 1.046%
Break-even: 90.1 days

Slippage from Injective: live order book, 34 min ago; Bitget: live order book, 5 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, 34 min ago	36.22 bp	36.2 bp −$36	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.32 bp	6.8 bp −$7	9.0 bp −$90	20.4 bp −$2,037	doesn't fit

XRP on 50 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	1.5476	−0.540%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	−0.450%	$70K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5449	−0.713%	$8.0M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	−0.523%	$251K	—	150x	as long as short
dYdX XRP-USD	+0.0005%	1h	1.5474	−0.554%	$1.1M	$155K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5451	−0.700%	$14.1M	$73.6M	50x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Hibachi XRP/USDT-P	+0.0064%	1h	1.5479	−0.523%	$18K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5458	−0.653%	$2.8M	$14.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5463	−0.623%	$613K	$3.0M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5464	−0.617%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5463	−0.621%	$482K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5463	−0.623%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5452	−0.694%	$39.1M	$82.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5462	−0.628%	$611K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5453	−0.690%	$539.1M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5442	−0.758%	$360.6M	$905.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5445	−0.739%	$125.2M	$848.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5451	−0.701%	$569K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5466	−0.604%	$168K	$704K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.821%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5454	−0.681%	$384.9M	$154.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5454	−0.681%	$310.3M	$892.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5457	−0.659%	$109.7M	$180.3M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5443	−0.752%	$273.7M	$360.2M	125x
BingX XRP-USDT	+0.0100%	8h	1.5455	−0.675%	—	$105.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5471	−0.574%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5486	−0.476%	$675K	$114.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5484	−0.491%	$1.1M	$32.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5492	−0.437%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5467	−0.597%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5472	−0.566%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5455	−0.677%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5445	−0.739%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5460	−0.640%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5449	−0.713%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5434	−0.812%	$50.4M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5452	−0.694%	$54.9M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5441	−0.763%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5444	−0.745%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5474	−0.553%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5450	−0.707%	$5.3M	$46.1M	50x	as long as short
Hyperliquid XRP	+0.0133%	1h	1.5471	−0.572%	$298.6M	$266.4M	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0143% / S −0.0109%	1h	1.5484	−0.487%	$830K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5491	−0.443%	$1.8M	$33.0M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5481	−0.508%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5454	−0.682%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0234%	1h	1.5486	−0.476%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5459	−0.646%	$521K	$795K	10x	as long as short
Aftermath Perps XRPUSD	+0.0480%	1h	1.5473	−0.561%	$3K	$15K	10x	as long as short