Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.027%

Price spread now: Deribit against OKX+0.046%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.111%+$11 on $10k

Price spread, last 3 days (all we have)−0.074%−$7 · spread now +0.046%, 7d avg +0.033%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.111%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XRP-USDT-SWAP	1.5306	0.0100	pay 0.0100% / 8h	7h 48m	$124.7M	$879.3M	100x
Short	Deribit XRP_USDC-PERPETUAL	1.5313	0.0077	get 0.0010% / 1h	48m 55s	$9.3M	$25.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$4.83
Price spread: +0.046% → +0.033%: $1.32
Slippage, 4 orders: −$5.17
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.68
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from OKX: live order book, 5 min ago; Deribit: 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 OKX live order book, 5 min ago	0.32 bp	5.8 bp −$6	6.6 bp −$66	14.6 bp −$1,462	29.2 bp −$14.6K
Sell Deribit live order book, 5 min ago	1.62 bp	5.1 bp −$5	6.0 bp −$60	46.1 bp −$4,607	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	1.5307	+0.007%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5313	+0.044%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5303	−0.018%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0010% / S +0.0086%	1h	1.5304	−0.013%	$839K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.659%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5310	+0.026%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0077%	1h	1.5313	+0.046%	$9.3M	$25.5M	50x
Lighter XRP	+0.0096%	1h	1.5310	+0.026%	$2.8M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5310	+0.026%	$511K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5310	+0.026%	$11K	$276K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5309	+0.016%	$477K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5313	+0.042%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5310	+0.026%	$38.7M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5311	+0.034%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5304	−0.012%	$538.2M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5305	−0.007%	$340.2M	$929.5M	100x	as long as short
OKX XRP-USDT-SWAPlong	+0.0100%	8h	1.5306	long leg	$124.7M	$879.3M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	+0.091%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5312	+0.039%	$116K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	+0.203%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5304	−0.013%	$373.2M	$148.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5304	−0.013%	$295.3M	$894.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5308	+0.015%	$108.6M	$167.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5304	−0.013%	$268.3M	$376.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5304	−0.013%	—	$123.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5329	+0.151%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5392	+0.560%	$668K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5387	+0.529%	$1.1M	$39.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5333	+0.176%	$1.0M	$906K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5308	+0.015%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5310	+0.026%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5307	+0.008%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5312	+0.036%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5312	+0.037%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5311	+0.033%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5305	−0.007%	$50.2M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5308	+0.013%	$54.4M	$29.8M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5301	−0.031%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5312	+0.039%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5310	+0.025%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5307	+0.009%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5308	+0.013%	$23.9M	$74.4M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5311	+0.033%	$5.8M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0240%	1h	1.5316	+0.065%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5310	+0.024%	$14.5M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5315	+0.061%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5317	+0.072%	$2.0M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0427%	1h	1.5321	+0.098%	$290.3M	$216.0M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5400	+0.614%	$69K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0796%	1h	1.5348	+0.274%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5313	+0.044%	$506K	$755K	10x	as long as short