Funding you earn now, next payment 00:00 UTC−0.0459%/8h= −50.3% APRpaid last 24h −0.075%
Price spread now: Phemex against Hyperliquid−0.118%7-day average −0.064% · you buy dearer than you sell
Net, funding: paid 7d − costs−$48as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$320.322% of the position
Funding, last 7 days−0.158%−$16 on $10k
+Price spread, last 3 days (all we have)−0.025%−$2 · spread now −0.118%, 7d avg −0.064%
=Together, before fees−0.183%+ Points / potential airdropHyperliquid: Season 2 · farm board−$18 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Phemex is 0.053% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.064%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.158% in total (about -8.2% 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 | Hyperliquid XRP | 1.5316 | 0.0559 | pay 0.0070% / 1h | 5m 10s | $290.3M | $215.5M | 20x |
| Short | Phemex XRPUSDT | 1.5298 | 0.0100 | get 0.0100% / 8h | 5m 10s | $54.5M | $29.6M | 50x |
Hyperliquid XRP
Phemex XRPUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Hyperliquid. 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
- −$96.37
- Price spread: −0.118% → −0.064%
- −$5.31
- Slippage, 4 orders
- −$11.17
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$133.85
- Costs to cover
- 0.322%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 9 min ago; Phemex: 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 Hyperliquid live order book, 9 min ago | 0.33 bp | 4.8 bp −$5 | 6.2 bp −$62 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 4 min ago | 2.93 bp | 10.1 bp −$10 | 11.7 bp −$117 | 23.5 bp −$2,355 | 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 | 1.5278 | −0.248% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5261 | −0.358% | $1.1M | $113K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5330 | +0.091% | $68K | $90K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5290 | −0.167% | $256K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0006% / S +0.0091% | 1h | 1.5289 | −0.177% | $838K | — | 200x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0032% | 1h | 1.5297 | −0.123% | $14.9M | $69.8M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0061% | 8h | 1.5291 | −0.163% | $75K | $910K | 50x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0077% | 1h | 1.5301 | −0.098% | $9.3M | $25.7M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0089% | 1h | 1.5560 | +1.593% | $2K | $107K | 30x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5301 | −0.098% | $2.8M | $13.8M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Deribit XRP_USDC-PERPETUAL
Injective XRP/USDC PERP
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5304 | −0.078% | $511K | $3.3M | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5292 | −0.153% | $1.1M | $5.5M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5299 | −0.108% | $38.7M | $82.3M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5272 | −0.286% | $628K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5308 | −0.053% | $543.3M | $2.06B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5301 | −0.098% | $338.1M | $929.6M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5302 | −0.091% | $124.9M | $880.5M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5264 | −0.340% | $570K | $41K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5290 | −0.170% | $115K | $705K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5333 | +0.111% | $1.7M | $570K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5297 | −0.124% | $360.6M | $149.3M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5300 | −0.104% | $293.8M | $897.8M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5297 | −0.125% | $108.2M | $166.3M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5301 | −0.098% | $267.2M | $377.1M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5301 | −0.098% | — | $122.6M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5290 | −0.167% | $8.2M | $33.8M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5317 | +0.009% | $665K | $105.7M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5343 | +0.176% | $1.1M | $40.3M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5301 | −0.098% | $1.0M | $901K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5292 | −0.157% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5292 | −0.157% | $46K | $456K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5290 | −0.172% | $41K | $69K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5295 | −0.135% | $823K | $82K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5298 | −0.118% | $128K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5298 | −0.118% | $29K | $1.8M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5296 | −0.127% | $50.2M | $15.6M | 75x | as long as short |
| Phemex XRPUSDTshort | +0.0100% | 8h | 1.5298 | −0.118% | $54.5M | $29.6M | 50x | |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5281 | −0.228% | $476K | $54K | 50x | as long as short |
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5284 | −0.209% | $11K | $270K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5295 | −0.140% | $2.1M | $7.2M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5294 | −0.144% | $71K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0168% | 1h | 1.5291 | −0.163% | $8K | $8K | 10x | as long as short |
| Reya XRPRUSDPERP | +0.0213% | 1h | 1.5292 | −0.160% | $1.4M | $7K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5301 | −0.098% | $24.1M | $74.7M | 125x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0224% | 1h | 1.5300 | −0.104% | $5.8M | $46.7M | 50x | as long as short |
| Backpack XRP_USDC_PERP | +0.0258% | 1h | 1.5307 | −0.059% | $1.7M | $1.0M | 25x | as long as short |
| Hibachi XRP/USDT-P | +0.0304% | 1h | 1.5294 | −0.142% | $17K | $82K | 7x | as long as short |
| Kalshi KXXRPPERP | +0.0312% | 8h | 1.5279 | −0.242% | $2.0M | $34.7M | 2.9x | as long as short |
| Hyperliquid XRPlong | +0.0559% | 1h | 1.5316 | long leg | $290.3M | $215.5M | 20x | |
| RISEx XRP/USDC | +0.0761% | 1h | 1.5295 | −0.139% | $528K | $744K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0790% | 1h | 1.5324 | +0.053% | $1K | $11K | 10x | as long as short |
Lighter RH XRP
Nado XRP-PERP
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
GRVT XRP_USDT_Perp
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
Paradex XRP-USD-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Reya XRPRUSDPERP
BloFin XRP-USDT
Coinbase International XRP-PERP-INTX
Backpack XRP_USDC_PERP
Hibachi XRP/USDT-P
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD