XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0428%/8h= +46.9% APRnext payment +$0.54 per $10,000 · paid last 24h −0.004%

Price spread now: Phoenix against Derive+0.107%68s7-day average −0.004% · you sell dearer than you buy

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

Long on Derive Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now +0.107%, 7d avg −0.004%

Together, before fees−0.160%−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phoenix is 0.111% dearer against Derive than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.004%. Mind the row above: over the last 7 days funding on this pair cost −0.229%, so the current rate has only just turned in your favour. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.229% in total (about -12.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 per $10,000. 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	Derive XRP-PERP	1.5124	0.0100	pay 0.0013% / 1h	7m 50s	$814K	$72K	10x
Short	Phoenix XRP	1.5140	0.0528	get 0.0066% / 1h	7m 50s	$67K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.107%Rate

Funding earned: $89.89
Price spread: +0.107% → −0.004%: $11.1
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $87.99
Costs to cover: 0.130%
Break-even: 0.1 days

Slippage unknown: Derive: no order-book sample; Phoenix: live order book, 25 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 Phoenix live order book, 25 min ago	6.56 bp	35.8 bp −$36	83.3 bp −$833	doesn't fit	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	1.5100	−0.157%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5105	−0.122%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5120	−0.023%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5128	+0.028%	$7.7M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5121	−0.021%	$14.3M	$74.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.884%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5120	−0.023%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5135	+0.074%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5135	+0.074%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5104	−0.131%	$10K	$355K	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	1.5111	−0.081%	$980K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5133	+0.063%	$38.9M	$85.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5114	−0.065%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5135	+0.076%	$533.2M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5136	+0.081%	$343.6M	$947.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5133	+0.061%	$125.1M	$885.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5110	−0.091%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5120	−0.025%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	+0.097%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5136	+0.081%	$374.6M	$158.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5135	+0.074%	$296.0M	$909.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5135	+0.074%	$109.1M	$178.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5133	+0.061%	$268.6M	$391.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5127	+0.021%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5130	+0.039%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5144	+0.133%	$658K	$110.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5137	+0.090%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5150	+0.173%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5115	−0.055%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5120	−0.025%	$44K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5119	−0.031%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5122	−0.012%	$62K	$934K	50x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5124	long leg	$814K	$72K	10x
SunX XRP-USDT	+0.0100%	8h	1.5125	+0.005%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5120	−0.025%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5121	−0.020%	$49.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5125	+0.008%	$53.8M	$31.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5115	−0.056%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5129	+0.038%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5122	−0.015%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5116	−0.051%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0182%	8h	1.5116	−0.051%	$1.8M	$35.3M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5129	+0.035%	$5.7M	$48.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5116	−0.051%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5095	−0.190%	$24.2M	$75.5M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0235%	1h	1.5136	+0.081%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0288%	1h	1.5110	−0.094%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5118	−0.037%	$516K	$777K	10x	as long as short
Hyperliquid XRP	+0.0382%	1h	1.5145	+0.140%	$290.6M	$255.8M	20x	as long as short
Phoenix XRPshort	+0.0528%	1h	1.5140	+0.107%	$67K	$110K	15x
Aftermath Perps XRPUSD	+0.0653%	1h	1.5137	+0.089%	$2K	$15K	10x	as long as short