Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.015%

Price spread now: Deribit against Orderly−0.020%7-day average +0.031% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.020%, 7d avg +0.031%

Together, before fees+0.184%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.051% cheaper against Orderly than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.031%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.157%, 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	Orderly PERP_XRP_USDC	1.5179	0.0075	pay 0.0075% / 8h	5h 29m	$62K	$935K	50x
Short	Deribit XRP_USDC-PERPETUAL	1.5176	0.0014	get 0.0002% / 1h	29m 05s	$7.7M	$25.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now −0.020%Rate

Funding earned: −$12.91
Price spread: −0.020% → +0.031%: −$5.06
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$30.96
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 5 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 5 min ago	0.33 bp	4.4 bp −$4	5.5 bp −$55	33.4 bp −$3,337	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5187	+0.053%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	+0.062%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5183	+0.024%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0014%	1h	1.5176	−0.020%	$7.7M	$25.4M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.510%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0043%	1h	1.5183	+0.024%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5181	+0.013%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDClong	+0.0075%	8h	1.5179	long leg	$62K	$935K	50x
Lighter XRP	+0.0096%	1h	1.5173	−0.041%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5173	−0.040%	$512K	$3.3M	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	1.5172	−0.046%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5183	+0.023%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5184	+0.033%	$281.4M	$221.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5174	−0.036%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5187	+0.053%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5172	−0.046%	$537.9M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5171	−0.053%	$344.5M	$927.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5175	−0.026%	$125.9M	$868.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5171	−0.053%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5187	+0.053%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.150%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5178	−0.007%	$370.0M	$152.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5173	−0.040%	$291.8M	$898.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5170	−0.061%	$108.4M	$171.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5179	0.000%	$268.2M	$380.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5177	−0.013%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	+0.128%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.016%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5214	+0.229%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	+0.191%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5190	+0.075%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5188	+0.059%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5185	+0.040%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5180	+0.006%	$817K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5187	+0.049%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5173	−0.040%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5182	+0.018%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5171	−0.053%	$54.0M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	+0.058%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5169	−0.064%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5172	−0.048%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5178	−0.007%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5184	+0.033%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5177	−0.013%	$5.6M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5178	−0.007%	$24.2M	$75.1M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5198	+0.126%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5170	−0.058%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5182	+0.020%	$2.1M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5187	+0.052%	$517K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.072%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0680%	1h	1.5182	+0.022%	$2K	$14K	10x	as long as short