Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0416%/8h= +45.5% APRpaid last 24h −0.023%

Price spread now: Phoenix against Binance+0.281%7-day average — · you sell dearer than you buy

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

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Phoenix is 0.281% dearer against Binance than usual: you sell high and buy low: +$28 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.137%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.137% in total (about -7.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XRPUSDT	1.5556	0.0100	pay 0.0100% / 8h	1h 34m	$560.2M	$1.95B	100x
Short	Phoenix XRP	1.5600	0.0516	get 0.0064% / 1h	34m 37s	$69K	$90K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now +0.281%Rate

Funding earned: $87.32
Price spread: +0.281% → 0.000%: $28.08
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $98.4
Costs to cover: 0.170%
Break-even: from the start

Slippage unknown: Binance: live order book, 9 min ago; Phoenix: 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 Binance live order book, 9 min ago	0.32 bp	5.3 bp −$5	7.1 bp −$71	13.9 bp −$1,391	31.5 bp −$15.8K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	1.5603	+0.300%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5550	−0.039%	$1.1M	$104K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5577	+0.136%	$261K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5574	+0.114%	$9.6M	$25.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.712%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5561	+0.030%	$15.5M	$68.1M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5577	+0.133%	$78K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0131%	1h	1.5576	+0.126%	$918K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5559	+0.017%	$3.0M	$12.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5558	+0.011%	$456K	$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
Nado XRP-PERP	+0.0100%	1h	1.5576	+0.130%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5554	−0.018%	$39.5M	$77.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5556	+0.001%	$671K	$1.1M	20x	as long as short
Binance XRPUSDTlong	+0.0100%	8h	1.5556	long leg	$560.2M	$1.95B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5557	+0.004%	$349.0M	$882.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5556	−0.002%	$127.5M	$872.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5561	+0.030%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5548	−0.053%	$118K	$732K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.814%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5554	−0.015%	$374.7M	$138.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5557	+0.004%	$293.0M	$839.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5556	−0.001%	$114.1M	$157.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5548	−0.053%	$270.5M	$358.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5560	+0.024%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5595	+0.247%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5600	+0.279%	$677K	$100.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5597	+0.262%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	+0.570%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5572	+0.102%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5585	+0.184%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5576	+0.126%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5578	+0.139%	$839K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5567	+0.066%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5564	+0.049%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5567	+0.070%	$51.1M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5561	+0.030%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5555	−0.010%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5534	−0.143%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5542	−0.093%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5574	+0.114%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0136%	1h	1.5609	+0.337%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5581	+0.159%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5580	+0.152%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5576	+0.127%	$5.8M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5551	−0.034%	$24.5M	$73.2M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0282%	1h	1.5571	+0.094%	$1.8M	$978K	25x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5564	+0.049%	$1.9M	$32.4M	2.9x	as long as short
Phoenix XRPshort	+0.0516%	1h	1.5600	+0.281%	$69K	$90K	15x
RISEx XRP/USDC	+0.0527%	1h	1.5544	−0.080%	$509K	$621K	10x	as long as short
Hyperliquid XRP	+0.0602%	1h	1.5569	+0.082%	$290.9M	$200.1M	20x	as long as short
Aftermath Perps XRPUSD	+0.0692%	1h	1.5621	+0.416%	$1K	$11K	10x	as long as short