Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h −0.003%

Price spread now: edgeX against Injective−2.281%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs−$332as in the Price arb table

costs, in and out, $10k−$1021.024% of the position

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 4 days (all we have)+2.871%+$287 · spread now −2.281%, 7d avg +0.020%

Together, before fees+2.623%+ Points / potential airdropedgeX: Active · farm board+$262 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 2.300% cheaper against Injective than usual: you would sell low and buy high (spread −2.281% now, against its 7-day average of +0.020%). If the spread goes back, that is −$230 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 −0.248%, 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	37m 17s	$2K	$107K	30x
Short	edgeX XRPUSDC	1.5205	0.0100	get 0.0050% / 4h	37m 17s	$660K	$113.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −2.281%Rate

Funding earned: $14
Price spread: −2.281% → +0.020%: −$230.02
Slippage, 4 orders: −$93.33
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$318.37
Costs to cover: 1.024%
Break-even: 166.2 days

Slippage from Injective: live order book, 1 min ago; edgeX: 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 Injective live order book, 1 min ago	39.42 bp	39.4 bp −$39	48.2 bp −$482	doesn't fit	doesn't fit
Sell edgeX live order book, 2 min ago	0.99 bp	5.5 bp −$5	5.6 bp −$56	8.9 bp −$887	doesn't fit

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	1.5190	−2.378%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5182	−2.432%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5192	−2.365%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5172	−2.494%	$7.8M	$24.1M	50x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5168	−2.520%	$14.5M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5167	−2.526%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5172	−2.494%	$603K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5172	−2.494%	$17K	$380K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5176	−2.466%	$1.0M	$6.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XRPUSDT	+0.0100%	8h	1.5175	−2.474%	$38.4M	$86.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5190	−2.379%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5166	−2.530%	$531.3M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5170	−2.506%	$349.4M	$954.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5174	−2.481%	$127.9M	$868.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5224	−2.159%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5187	−2.397%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−2.378%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5176	−2.468%	$378.1M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5177	−2.461%	$314.8M	$921.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5177	−2.460%	$106.3M	$183.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5169	−2.513%	$268.0M	$391.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5172	−2.494%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	−2.150%	$5.0M	$38.7M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5205	−2.281%	$660K	$113.5M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5210	−2.250%	$1.1M	$35.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5239	−2.063%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5187	−2.400%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5178	−2.455%	$51K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5177	−2.464%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5174	−2.481%	$77K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5195	−2.343%	$817K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5183	−2.421%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5168	−2.519%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5166	−2.534%	$49.5M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5169	−2.513%	$54.2M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5194	−2.349%	$474K	$55K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0101% / S −0.0061%	1h	1.5174	−2.482%	$783K	—	200x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5164	−2.542%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5175	−2.474%	$8K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0104%	1h	1.5194	−2.355%	$17K	$78K	7x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5169	−2.512%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0138%	1h	1.5191	−2.371%	$289.8M	$267.6M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0157%	1h	1.5198	−2.326%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5176	−2.468%	$5.6M	$48.2M	50x	as long as short
Kalshi KXXRPPERP	+0.0195%	8h	1.5187	−2.397%	$1.8M	$34.5M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5175	−2.474%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5169	−2.513%	$23.5M	$77.6M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5183	−2.421%	$521K	$807K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5230	−2.121%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0645%	1h	1.5216	−2.210%	$2K	$16K	10x	as long as short