Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Phemex against Hotstuff−0.086%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Phemex is 0.086% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.086% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 38 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5088	−0.0080	get 0.0010% / 1h	15m 22s	$5K	$3K	20x
Short	Phemex XRPUSDT	1.5075	0.0100	get 0.0100% / 8h	2h 15m	$53.8M	$32.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Hotstuff. 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 HotstuffbpFee PhemexbpOrdersPrice spread, now −0.086%Rate

Funding earned: $37.8
Price spread: −0.086% → 0.000%: −$8.62
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: $12.18
Costs to cover: 0.170%
Break-even: 4.7 days

Slippage unknown: Hotstuff: no order-book sample; Phemex: live order book, 4 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	3.65 bp	11.5 bp −$11	13.5 bp −$135	28.0 bp −$2,797	doesn't fit

Hotstuff: 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-PERPlong	−0.0080%	1h	1.5088	long leg	$5K	$3K	20x
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5071	−0.110%	$14.1M	$74.9M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5080	−0.055%	$1.1M	$133K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	+0.013%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5078	−0.065%	$244K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.128%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0071% / S −0.0015%	1h	1.5078	−0.069%	$795K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0082%	1h	1.5075	−0.086%	$7.7M	$25.5M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5088	0.000%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5089	+0.004%	$2.8M	$15.0M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5091	+0.020%	$545K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5081	−0.046%	$10K	$361K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5084	−0.030%	$975K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5083	−0.033%	$38.3M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5089	+0.008%	$600K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5080	−0.053%	$524.5M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5080	−0.053%	$344.0M	$964.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5082	−0.040%	$126.1M	$883.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5068	−0.133%	$561K	$31K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5092	+0.027%	$144K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5026	−0.408%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5079	−0.060%	$370.5M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5080	−0.053%	$288.1M	$923.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5082	−0.037%	$106.4M	$181.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5080	−0.053%	$265.0M	$398.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5080	−0.053%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5072	−0.106%	$4.7M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5079	−0.061%	$655K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5083	−0.033%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5086	−0.013%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5084	−0.024%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5087	−0.007%	$51K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5080	−0.051%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5080	−0.053%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5073	−0.098%	$811K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5078	−0.064%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5074	−0.093%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5081	−0.044%	$49.3M	$15.6M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5075	−0.086%	$53.8M	$32.2M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5094	+0.041%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5082	−0.037%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5071	−0.114%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0113%	1h	1.5093	+0.033%	$288.0M	$262.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5078	−0.066%	$5.7M	$48.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0192%	1h	1.5077	−0.076%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0192%	1h	1.5087	−0.007%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0196%	8h	1.5079	−0.060%	$1.7M	$35.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5077	−0.071%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5077	−0.073%	$23.1M	$77.0M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5092	+0.029%	$520K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0600%	1h	1.5068	−0.135%	$2K	$16K	10x	as long as short