Funding you earn now, next payment 02:00 UTC+0.0428%/8h= +46.9% APRpaid last 24h −0.010%
Price spread now: Phoenix against GRVT−0.086%7-day average +0.017% · you buy dearer than you sell
Net, funding: paid 7d − costs−$106as in the Funding arb table
Net, price: spread back to 7d avg − costs−$93as in the Price arb table
costs, in and out, $10k−$830.826% of the position
Funding, last 7 days−0.231%−$23 on $10k
+Price spread, last 4 days (all we have)+0.512%+$51 · spread now −0.086%, 7d avg +0.017%
=Together, before fees+0.282%+ Points / potential airdropGRVT: Active · farm board+$28 on $10k · with fees, hour by hour
Funding pays, the price is against you. Phoenix is 0.103% cheaper against GRVT than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of +0.017%). If the spread goes back, that is −$10 on $10k: about 19 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.231%, 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 -0.231% in total (about -12.0% 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 | GRVT XRP_USDT_Perp | 1.5153 | 0.0100 | pay 0.0100% / 8h | 5h 39m | $1.1M | $35.5M | 20x |
| Short | Phoenix XRP | 1.5140 | 0.0528 | get 0.0066% / 1h | 39m 01s | $67K | $110K | 15x |
GRVT XRP_USDT_Perp
Phoenix XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against GRVT. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $89.96
- Price spread: −0.086% → +0.017%
- −$10.26
- Slippage, 4 orders
- −$66.56
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$2.85
- Costs to cover
- 0.826%
- Break-even
- 7.2 days
Slippage from GRVT: live order book, 5 min ago; Phoenix: live order book, 4 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 GRVT live order book, 5 min ago | 0.33 bp | 5.7 bp −$6 | 16.7 bp −$167 | 51.9 bp −$5,195 | doesn't fit |
| Sell Phoenix live order book, 4 min ago | 6.59 bp | 35.9 bp −$36 | 83.7 bp −$837 | doesn't fit | doesn't fit |
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 | 1.5122 | −0.205% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5117 | −0.238% | $1.1M | $110K | 10x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5109 | −0.290% | $253K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0015% | 1h | 1.5112 | −0.271% | $7.6M | $25.4M | 50x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0032% / S +0.0046% | 1h | 1.5108 | −0.300% | $816K | — | 200x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.686% | $2K | $107K | 30x | as long as short |
| Orderly PERP_XRP_USDC | +0.0075% | 8h | 1.5110 | −0.284% | $62K | $935K | 50x | as long as short |
| 01 Exchange XRPUSD | +0.0080% | 1h | 1.5113 | −0.264% | $8K | $8K | 10x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5112 | −0.268% | $2.8M | $14.4M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5114 | −0.257% | $508K | $3.3M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
Deribit XRP_USDC-PERPETUAL
GMX XRP/USD [ETH-USDC]
Injective XRP/USDC PERP
Orderly PERP_XRP_USDC
01 Exchange XRPUSD
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5107 | −0.304% | $9K | $307K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5109 | −0.287% | $1.0M | $5.9M | 20x | as long as short |
| Hyperliquid XRP | +0.0100% | 1h | 1.5120 | −0.218% | $280.1M | $219.7M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5113 | −0.264% | $38.3M | $83.2M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5115 | −0.252% | $607K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5117 | −0.240% | $535.8M | $2.09B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5114 | −0.257% | $342.9M | $926.0M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5114 | −0.257% | $125.3M | $863.9M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5116 | −0.244% | $563K | $28K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5114 | −0.257% | $114K | $708K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5136 | −0.115% | $1.6M | $88K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5115 | −0.251% | $368.4M | $151.3M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5111 | −0.277% | $292.8M | $895.6M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5109 | −0.288% | $106.4M | $170.9M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5117 | −0.238% | $266.0M | $380.1M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5118 | −0.231% | — | $126.0M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5121 | −0.214% | $5.6M | $36.3M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5123 | −0.200% | $657K | $109.0M | 30x | as long as short |
| GRVT XRP_USDT_Perplong | +0.0100% | 8h | 1.5153 | long leg | $1.1M | $35.5M | 20x | |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5143 | −0.066% | $1.2M | $1.0M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5120 | −0.215% | — | $11K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5117 | −0.238% | $41K | $449K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5112 | −0.273% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5114 | −0.260% | $813K | $75K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5115 | −0.248% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5110 | −0.284% | $29K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5110 | −0.281% | $49.5M | $15.6M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5113 | −0.264% | $53.8M | $30.0M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5112 | −0.272% | $471K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5106 | −0.309% | $2.0M | $6.8M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5109 | −0.289% | $58K | $25K | 3x | as long as short |
| Backpack XRP_USDC_PERP | +0.0212% | 1h | 1.5121 | −0.211% | $1.9M | $1.3M | 25x | as long as short |
| Reya XRPRUSDPERP | +0.0215% | 1h | 1.5115 | −0.250% | $1.3M | $7K | 15x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0216% | 1h | 1.5115 | −0.251% | $5.6M | $46.3M | 50x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5108 | −0.297% | $24.2M | $74.4M | 125x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0274% | 1h | 1.5109 | −0.292% | $14.5M | $73.1M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0280% | 1h | 1.5118 | −0.229% | $17K | $82K | 7x | as long as short |
| Kalshi KXXRPPERP | +0.0353% | 8h | 1.5123 | −0.198% | $2.2M | $35.0M | 2.9x | as long as short |
| RISEx XRP/USDC | +0.0484% | 1h | 1.5116 | −0.247% | $516K | $774K | 10x | as long as short |
| Phoenix XRPshort | +0.0528% | 1h | 1.5140 | −0.086% | $67K | $110K | 15x | |
| Aftermath Perps XRPUSD | +0.0714% | 1h | 1.5124 | −0.192% | $2K | $14K | 10x | as long as short |
Katana Perps XRP-USD
Nado XRP-PERP
Hyperliquid XRP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
Backpack XRP_USDC_PERP
Reya XRPRUSDPERP
Coinbase International XRP-PERP-INTX
BloFin XRP-USDT
Kraken Futures PF_XRPUSD
Hibachi XRP/USDT-P
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD