Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Phemex against Derive−0.060%7-day average +0.003% · you buy dearer than you sell

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

Long on Derive Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now −0.060%, 7d avg +0.003%

Together, before fees+0.035%+$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.063% cheaper against Derive than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5373	0.0100	pay 0.0013% / 1h	9m 03s	$828K	$74K	10x
Short	Phemex XRPUSDT	1.5364	0.0100	get 0.0100% / 8h	7h 09m	$54.6M	$29.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Derive. 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 DerivebpFee PhemexbpOrdersPrice spread, now −0.060%Rate

Funding earned: $0
Price spread: −0.060% → +0.003%: −$6.26
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$24.26
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Phemex: live order book, 5 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 Derive no order-book sample	—	—	—	—	—
Sell Phemex live order book, 5 min ago	3.25 bp	15.2 bp −$15	20.1 bp −$201	34.8 bp −$3,483	doesn't fit

Derive: 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	1.5382	+0.057%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5378	+0.030%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5371	−0.017%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0018% / S +0.0073%	1h	1.5369	−0.025%	$843K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.215%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0064%	8h	1.5370	−0.021%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5372	−0.008%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5369	−0.027%	$9.3M	$25.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5364	−0.058%	$2.9M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5371	−0.014%	$515K	$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	1.5371	−0.014%	$9K	$281K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5387	+0.088%	$480K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5377	+0.028%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5370	−0.023%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5382	+0.058%	$633K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5358	−0.099%	$542.6M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5354	−0.125%	$342.0M	$919.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5354	−0.125%	$124.7M	$868.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5366	−0.047%	$572K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5374	+0.005%	$117K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5274	−0.642%	$1.6M	$378K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5363	−0.066%	$375.2M	$151.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5365	−0.053%	$307.2M	$914.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5362	−0.070%	$111.2M	$166.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5360	−0.086%	$269.6M	$375.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5362	−0.073%	—	$124.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5354	−0.125%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5360	−0.087%	$667K	$106.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5362	−0.073%	$1.1M	$37.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5376	+0.018%	$1.2M	$997K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5378	+0.028%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5383	+0.064%	$48K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5373	0.000%	$41K	$67K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5373	long leg	$828K	$74K	10x
SunX XRP-USDT	+0.0100%	8h	1.5378	+0.033%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5365	−0.053%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5364	−0.062%	$50.4M	$15.3M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5364	−0.060%	$54.6M	$29.5M	50x
Extended XRP-USD	+0.0104%	1h	1.5367	−0.041%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5369	−0.026%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5371	−0.012%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5359	−0.092%	$24.1M	$74.0M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5371	−0.014%	$5.7M	$46.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5364	−0.057%	$14.5M	$70.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5377	+0.027%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0313%	1h	1.5371	−0.014%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5385	+0.077%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0381%	1h	1.5373	−0.001%	$290.6M	$214.3M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5360	−0.086%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5385	+0.074%	$544K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0837%	1h	1.5370	−0.021%	$2K	$13K	10x	as long as short