XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0216%/8h= −23.7% APRnext payment −$0.27 per $10,000 · paid last 24h −0.037%

Price spread now: Phoenix against Coinbase International+0.072%7-day average −0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$108as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$880.875% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now +0.072%, 7d avg −0.039%

Together, before fees−0.283%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.111% dearer against Coinbase International than usual: you sell high and buy low (spread +0.072% now, against its 7-day average of −0.039%): +$11 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 41 hours. At the pace of the last 7 days (−0.208% in total) that is about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5199	0.0216	pay 0.0027% / 1h	25m 06s	$5.7M	$46.8M	50x
Short	Phoenix XRP	1.5210	0	get 0.0000% / 1h	25m 06s	$68K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$45.36
Price spread: +0.072% → −0.039%: $11.1
Slippage, 4 orders: −$70.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$121.78
Costs to cover: 0.875%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Phoenix: live order book, 23 min ago.

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 Coinbase International live order book, 4 min ago	0.33 bp	6.9 bp −$7	9.6 bp −$96	27.3 bp −$2,731	doesn't fit
Sell Phoenix live order book, 23 min ago	6.57 bp	35.9 bp −$36	83.5 bp −$835	doesn't fit	doesn't fit

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	1.5195	−0.026%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5185	−0.094%	$1.1M	$120K	10x	as long as short
Phoenix XRPshort	0.0000%	1h	1.5210	+0.072%	$68K	$110K	15x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5199	−0.002%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0059%	1h	1.5197	−0.011%	$803K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.375%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5193	−0.042%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5201	+0.013%	$62K	$953K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5199	0.000%	$7.7M	$25.2M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5197	−0.015%	$2.8M	$14.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5199	0.000%	$518K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5184	−0.099%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5187	−0.076%	$896K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5200	+0.008%	$38.7M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5193	−0.038%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5189	−0.068%	$538.7M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5188	−0.072%	$342.0M	$940.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5188	−0.072%	$124.8M	$873.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.164%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5198	−0.007%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.063%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5188	−0.072%	$369.5M	$152.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5186	−0.086%	$291.3M	$912.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5196	−0.019%	$107.3M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5184	−0.099%	$266.3M	$383.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5187	−0.079%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5199	0.000%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5184	−0.101%	$659K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5181	−0.117%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5179	−0.132%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5199	0.000%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5200	+0.007%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5201	+0.014%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5199	−0.003%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5198	−0.006%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5196	−0.020%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5197	−0.014%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5195	−0.026%	$54.1M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5197	−0.014%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5193	−0.037%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5197	−0.012%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5195	−0.026%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5196	−0.018%	$1.3M	$7K	15x	as long as short
Hyperliquid XRP	+0.0216%	1h	1.5197	−0.013%	$281.2M	$223.5M	20x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0216%	1h	1.5199	long leg	$5.7M	$46.8M	50x
Hibachi XRP/USDT-P	+0.0320%	1h	1.5203	+0.026%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0358%	8h	1.5199	0.000%	$2.1M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0363%	1h	1.5196	−0.020%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5198	−0.005%	$535K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0756%	1h	1.5174	−0.163%	$2K	$14K	10x	as long as short