Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0037%/8h= −4.1% APRpaid last 24h −0.009%

Price spread now: Orderly against SoDEX+0.033%7-day average 0.000% · you sell dearer than you buy

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

Long on SoDEX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.001%$0 on $10k

Price spread, last 3 days (all we have)−0.025%−$3 · spread now +0.033%, 7d avg 0.000%

Together, before fees−0.025%−$2 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.032% dearer against SoDEX than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of 0.000%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5362	0.0100	pay 0.0013% / 1h	24m 10s	$30K	$1.8M	10x
Short	Orderly PERP_XRP_USDC	1.5367	0.0063	get 0.0063% / 8h	7h 24m	$58K	$935K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against SoDEX. 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 SoDEXbpFee OrderlybpOrdersPrice spread, now +0.033%Rate

Funding earned: −$7.85
Price spread: +0.033% → 0.000%: $3.23
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.62
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 5 min ago; Orderly: 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 SoDEX live order book, 5 min ago	0.65 bp	4.7 bp −$5	7.8 bp −$78	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	1.5368	+0.039%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	+0.022%	$1.1M	$112K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5366	+0.026%	$9.3M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5366	+0.024%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0078%	1h	1.5366	+0.023%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.289%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDCshort	+0.0063%	8h	1.5367	+0.033%	$58K	$935K	50x
01 Exchange XRPUSD	+0.0088%	1h	1.5356	−0.039%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5362	+0.003%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5367	+0.033%	$516K	$3.2M	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	1.5360	−0.013%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	+0.057%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5368	+0.042%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5365	+0.022%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5368	+0.040%	$622K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5361	−0.010%	$542.3M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5360	−0.013%	$342.7M	$919.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5359	−0.020%	$125.0M	$868.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.299%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5365	+0.020%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.180%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5369	+0.046%	$375.6M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5360	−0.013%	$313.9M	$905.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5367	+0.031%	$109.0M	$165.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5359	−0.020%	$268.8M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5363	+0.007%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	−0.065%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5338	−0.154%	$666K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.181%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	−0.078%	$1.2M	$996K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	+0.033%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5366	+0.027%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5371	+0.056%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5368	+0.038%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5362	long leg	$30K	$1.8M	10x
HTX XRP-USDT	+0.0100%	8h	1.5371	+0.061%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5361	−0.007%	$54.6M	$29.6M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	−0.001%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5359	−0.019%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	+0.011%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	−0.011%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5369	+0.046%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5369	+0.046%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5362	−0.003%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0299%	1h	1.5369	+0.046%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5373	+0.072%	$2.0M	$34.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5367	+0.033%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0388%	1h	1.5375	+0.085%	$290.2M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	−0.078%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0796%	1h	1.5348	−0.091%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5366	+0.026%	$544K	$772K	10x	as long as short