Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Paradex−2.584%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 2.584% cheaper against Paradex than usual: you would sell low and buy high (−$258 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5696	0.0100	pay 0.0100% / 8h	1h 44m	$489K	$54K	50x
Short	Injective XRP/USDC PERP	1.5290	0.0033	get 0.0004% / 1h	44m 51s	$2K	$86K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Paradex. 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 ParadexbpFee InjectivebpOrdersPrice spread, now −2.584%Rate

Funding earned: −$14.07
Price spread: −2.584% → 0.000%: −$258.35
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$276.44
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: live order book, 39 min ago; Injective: no order-book sample. 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 Paradex live order book, 39 min ago	4.24 bp	6.2 bp −$6	146.0 bp −$1,460	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	1.5692	−0.022%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5691	−0.027%	$1.1M	$104K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5696	+0.006%	$263K	—	150x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5290	−2.584%	$2K	$86K	30x
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5709	+0.085%	$15.7M	$67.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0052%	8h	1.5707	+0.073%	$81K	$936K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0068%	1h	1.5710	+0.092%	$9.7M	$25.0M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0081% / S +0.0142%	1h	1.5700	+0.026%	$925K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5710	+0.089%	$3.1M	$11.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5713	+0.111%	$461K	$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
Hibachi XRP/USDT-P	+0.0096%	1h	1.5637	−0.371%	$19K	$73K	7x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5695	0.000%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5737	+0.264%	$40.1M	$75.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5690	−0.032%	$678K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5739	+0.274%	$571.0M	$1.93B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5741	+0.290%	$356.0M	$873.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5740	+0.284%	$129.5M	$876.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5615	−0.513%	$581K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5699	+0.022%	$121K	$724K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5527	−1.074%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5733	+0.239%	$376.0M	$135.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5734	+0.245%	$293.9M	$826.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5723	+0.175%	$113.7M	$153.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5742	+0.296%	$273.2M	$353.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5734	+0.245%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	−0.392%	$11.8M	$29.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5621	−0.473%	$678K	$98.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5635	−0.385%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5628	−0.430%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5683	−0.081%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5705	+0.061%	$49K	$443K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5707	+0.073%	$42K	$62K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5708	+0.079%	$846K	$71K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5713	+0.108%	$132K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5709	+0.086%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5697	+0.011%	$51.6M	$15.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5703	+0.048%	$55.9M	$28.9M	50x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5696	long leg	$489K	$54K	50x
Katana Perps XRP-USD	+0.0101%	8h	1.5696	+0.003%	$12K	$248K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5729	+0.210%	$2.2M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5695	−0.002%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5703	+0.048%	$9K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5699	+0.021%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5715	+0.124%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5701	+0.035%	$24.7M	$72.4M	125x	as long as short
Kalshi KXXRPPERP	+0.0337%	8h	1.5690	−0.035%	$1.9M	$32.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0372%	1h	1.5726	+0.194%	$1.8M	$977K	25x	as long as short
Phoenix XRP	+0.0516%	1h	1.5590	−0.672%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5705	+0.058%	$412K	$534K	10x	as long as short
Aftermath Perps XRPUSD	+0.0604%	1h	1.5612	−0.534%	$1K	$11K	10x	as long as short
Hyperliquid XRP	+0.0659%	1h	1.5756	+0.385%	$292.3M	$197.6M	20x	as long as short