Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.021%

Price spread now: dYdX against Orderly−0.010%7-day average +0.009% · you buy dearer than you sell

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

Long on Orderly Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.106%−$11 on $10k

Price spread, last 4 days (all we have)+0.042%+$4 · spread now −0.010%, 7d avg +0.009%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5243	0.0100	pay 0.0100% / 8h	1h 16m	$66K	$746K	50x
Short	dYdX XRP-USD	1.5241	0	get 0.0000% / 1h	16m 42s	$1.1M	$148K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$21
Price spread: −0.010% → +0.009%: −$1.97
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$38.97
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; dYdX: live order book, 2 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 dYdX live order book, 2 min ago	17.07 bp	22.1 bp −$22	22.1 bp −$221	22.9 bp −$2,286	65.0 bp −$32.5K

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 50 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	1.5243	0.000%	$5K	$3K	20x	as long as short
dYdX XRP-USDshort	0.0000%	1h	1.5241	−0.010%	$1.1M	$148K	10x
Phoenix XRP	0.0000%	1h	1.5260	+0.112%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5244	+0.007%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5248	+0.033%	$7.9M	$24.8M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5244	+0.009%	$14.5M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.080%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0088% / S −0.0041%	1h	1.5244	+0.009%	$787K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5242	−0.005%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5243	0.000%	$548K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0099%	8h	1.5234	−0.059%	$11K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5254	+0.075%	$994K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5241	−0.013%	$38.7M	$87.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5243	+0.002%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5242	−0.007%	$534.8M	$2.23B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5237	−0.039%	$349.8M	$965.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5238	−0.033%	$128.1M	$885.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5239	−0.026%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5244	+0.007%	$145K	$716K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5238	−0.033%	$378.3M	$161.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5240	−0.020%	$311.5M	$931.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5239	−0.025%	$107.8M	$182.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5235	−0.052%	$269.5M	$397.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5235	−0.052%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	−0.296%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5231	−0.076%	$662K	$114.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5240	−0.022%	$1.1M	$36.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5204	−0.256%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5255	+0.077%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5255	+0.079%	$66K	$507K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5246	+0.023%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDClong	+0.0100%	8h	1.5243	long leg	$66K	$746K	50x
SunX XRP-USDT	+0.0100%	8h	1.5249	+0.042%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5245	+0.013%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5257	+0.090%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5242	−0.007%	$54.6M	$32.5M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5206	−0.243%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5247	+0.027%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5233	−0.065%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5242	−0.006%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5248	+0.033%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5231	−0.079%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5253	+0.066%	$5.7M	$48.5M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0190%	1h	1.5254	+0.072%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0216%	1h	1.5255	+0.079%	$290.8M	$265.5M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5249	+0.039%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5245	+0.013%	$23.7M	$78.4M	125x	as long as short
Kalshi KXXRPPERP	+0.0224%	8h	1.5257	+0.092%	$1.8M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5243	+0.002%	$529K	$806K	10x	as long as short
Aftermath Perps XRPUSD	+0.0653%	1h	1.5226	−0.109%	$2K	$16K	10x	as long as short