Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Nado−0.056%49s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$200.205% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days+0.022%+$2 · spread now −0.056%, 7d avg −0.029%

Together, before fees+0.020%+ Points / potential airdropNado: Active · farm board+$2 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.027% cheaper against Nado than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.029%. The two prices were read 49 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	Nado XRP-PERP	1.5207	0.0100	pay 0.0012% / 1h	41m 39s	$994K	$6.2M	20x
Short	Bybit XRPUSDT	1.5199	0.0100	get 0.0100% / 8h	7h 41m	$354.8M	$945.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → −0.029%: −$2.67
Slippage, 4 orders: −$2.45
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$23.13
Costs to cover: 0.205%
Break-even: 2375909084221260.0 days

Slippage from Nado: live order book, 2 min ago; Bybit: live order book, 3 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 Nado live order book, 2 min ago	0.33 bp	4.1 bp −$4	8.4 bp −$84	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	0.33 bp	5.8 bp −$6	7.1 bp −$71	12.5 bp −$1,249	25.5 bp −$12.7K

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
Kraken Futures PF_XRPUSD	−0.0171%	1h	1.5211	+0.020%	$14.7M	$75.5M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5222	+0.095%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5208	+0.004%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5230	+0.148%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5212	+0.033%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5215	+0.049%	$7.7M	$23.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.318%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5207	−0.004%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5206	−0.012%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5208	+0.003%	$620K	$3.1M	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	1.5195	−0.082%	$20K	$380K	20x	as long as short
Nado XRP-PERPlong	+0.0100%	1h	1.5207	long leg	$994K	$6.2M	20x
Aster XRPUSDT	+0.0100%	8h	1.5206	−0.011%	$38.5M	$84.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5204	−0.023%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5202	−0.036%	$530.3M	$2.18B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5199	−0.056%	$354.8M	$945.6M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5200	−0.049%	$126.9M	$855.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5204	−0.023%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5206	−0.010%	$143K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5227	+0.131%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5201	−0.043%	$374.8M	$152.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5202	−0.036%	$312.8M	$913.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5206	−0.012%	$106.6M	$183.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5200	−0.049%	$269.4M	$383.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5202	−0.036%	—	$108.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5218	+0.069%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5218	+0.066%	$661K	$113.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5223	+0.100%	$1.1M	$33.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5223	+0.102%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5220	+0.082%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5221	+0.089%	$52K	$513K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5215	+0.049%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5212	+0.030%	$78K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5210	+0.017%	$818K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5219	+0.078%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5208	+0.003%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5206	−0.011%	$49.7M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5210	+0.016%	$54.4M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5207	−0.006%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5197	−0.072%	$2.1M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5213	+0.033%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0116% / S −0.0080%	1h	1.5213	+0.034%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5200	−0.049%	$8K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5216	+0.056%	$5.6M	$47.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0174%	8h	1.5214	+0.043%	$1.7M	$33.4M	2.9x	as long as short
Hyperliquid XRP	+0.0180%	1h	1.5218	+0.069%	$290.6M	$267.9M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5200	−0.049%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5215	+0.048%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0243%	1h	1.5215	+0.049%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5202	−0.034%	$522K	$798K	10x	as long as short
Aftermath Perps XRPUSD	+0.0546%	1h	1.5221	+0.090%	$3K	$16K	10x	as long as short