Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.019%

Price spread now: KuCoin against Injective−1.259%55s7-day average +0.291% · you buy dearer than you sell

Net, funding: paid 7d − costs−$132as 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−$1151.152% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.164%−$16 on $10k

Price spread, last 3 days (all we have)+1.834%+$183 · spread now −1.259%, 7d avg +0.291%

Together, before fees+1.669%+$167 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 1.550% cheaper against Injective than usual: you would sell low and buy high (spread −1.259% now, against its 7-day average of +0.291%). If the spread goes back, that is −$155 on $10k: about 3 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.164%, so the current rate has only just turned in your favour. The two prices were read 55 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	24m 28s	$2K	$107K	30x
Short	KuCoin XRPUSDTM	1.5364	0.0100	get 0.0100% / 8h	7h 24m	$109.0M	$165.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −1.259%Rate

Funding earned: $14
Price spread: −1.259% → +0.291%: −$154.99
Slippage, 4 orders: −$103.14
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$256.16
Costs to cover: 1.152%
Break-even: 135.1 days

Slippage from Injective: live order book, 49 min ago; KuCoin: 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, 49 min ago	39.09 bp	39.1 bp −$39	47.7 bp −$477	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	0.59 bp	9.9 bp −$10	12.8 bp −$128	doesn't fit	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	1.5368	−1.234%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	−1.251%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5366	−1.249%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0078%	1h	1.5366	−1.249%	$842K	—	200x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5367	−1.240%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5377	−1.176%	$9.3M	$25.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5356	−1.311%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5366	−1.246%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5369	−1.228%	$516K	$3.2M	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	1.5360	−1.285%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	−1.217%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5368	−1.231%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5365	−1.255%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5368	−1.233%	$622K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5369	−1.229%	$542.6M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5368	−1.234%	$342.8M	$919.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5366	−1.247%	$124.9M	$869.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−1.568%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5365	−1.253%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−1.450%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5369	−1.228%	$375.6M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5368	−1.234%	$314.0M	$905.7M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5364	−1.259%	$109.0M	$165.6M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5363	−1.266%	$268.9M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5366	−1.247%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	−1.337%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5338	−1.425%	$666K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−1.451%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	−1.350%	$1.2M	$996K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	−1.240%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5366	−1.245%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5371	−1.217%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	−1.228%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5371	−1.215%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5374	−1.194%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5372	−1.208%	$54.7M	$29.6M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	−1.273%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5362	−1.272%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	−1.262%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	−1.283%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5369	−1.228%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5374	−1.195%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5370	−1.223%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0299%	1h	1.5375	−1.189%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5373	−1.202%	$2.0M	$34.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5367	−1.240%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0388%	1h	1.5375	−1.189%	$290.2M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	−1.350%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0796%	1h	1.5348	−1.362%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5366	−1.247%	$544K	$772K	10x	as long as short