Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0013%/8h= +1.5% APRpaid last 24h +0.009%

Price spread now: Pacifica against Orderly+0.091%7-day average +0.019% · you sell dearer than you buy

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

Long on Orderly Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 4 days (all we have)+0.148%+$15 · spread now +0.091%, 7d avg +0.019%

Together, before fees+0.235%+ Points / potential airdropPacifica: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Pacifica is 0.072% dearer against Orderly than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5167	0.0087	pay 0.0087% / 8h	4h 19m	$62K	$934K	50x
Short	Pacifica XRP	1.5181	0.0100	get 0.0013% / 1h	19m 47s	$609K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.091%Rate

Funding earned: $2.8
Price spread: +0.091% → +0.019%: $7.21
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$3.99
Costs to cover: 0.140%
Break-even: 17.0 days

Slippage unknown: Orderly: no order-book sample; Pacifica: live order book, 4 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 Pacifica live order book, 4 min ago	0.66 bp	5.0 bp −$5	6.9 bp −$69	doesn't fit	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	1.5172	+0.033%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5165	−0.012%	$14.3M	$73.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5177	+0.067%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	+0.152%	$68K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5170	+0.020%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5165	−0.013%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.591%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0044% / S +0.0024%	1h	1.5164	−0.019%	$791K	—	200x	as long as short
Orderly PERP_XRP_USDClong	+0.0087%	8h	1.5167	long leg	$62K	$934K	50x
Lighter XRP	+0.0096%	1h	1.5171	+0.026%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5171	+0.026%	$499K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5163	−0.026%	$11K	$326K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5164	−0.023%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5172	+0.036%	$280.7M	$227.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5162	−0.033%	$38.4M	$83.3M	100x	as long as short
Pacifica XRPshort	+0.0100%	1h	1.5181	+0.091%	$609K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5165	−0.016%	$535.2M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5164	−0.020%	$347.4M	$934.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5167	0.000%	$126.2M	$875.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5176	+0.059%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5180	+0.086%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5174	+0.047%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5163	−0.026%	$369.8M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5165	−0.013%	$291.1M	$901.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5168	+0.004%	$108.3M	$174.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5163	−0.026%	$268.4M	$384.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5166	−0.007%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	−0.002%	$5.1M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5172	+0.033%	$659K	$108.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5174	+0.046%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5192	+0.165%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5168	+0.007%	$44K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5167	0.000%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5168	+0.005%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5181	+0.094%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5170	+0.020%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5176	+0.061%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5166	−0.007%	$54.1M	$30.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5181	+0.089%	$473K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5168	+0.005%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5162	−0.030%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5172	+0.033%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5166	−0.009%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0181%	1h	1.5173	+0.040%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5173	+0.040%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5185	+0.120%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5165	−0.013%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5169	+0.013%	$24.1M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5180	+0.086%	$2.1M	$34.5M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5180	+0.088%	$517K	$776K	10x	as long as short
Aftermath Perps XRPUSD	+0.0650%	1h	1.5173	+0.043%	$2K	$15K	10x	as long as short