XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0001%/8h= +0.1% APRnext payment +$0.00 per $10,000 · paid last 24h −0.017%

Price spread now: Phoenix against Kraken Futures−0.058%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$113as in the Funding arb table

Net, price: spread back to 7d avg − costs−$96as in the Price arb table

costs, in and out, $10k−$910.905% of the position

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.058%, 7d avg −0.007%

Together, before fees−0.142%−$14 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: Phoenix is 0.051% cheaper against Kraken Futures than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5079	−0.0001	get 0.0000% / 1h	35m 15s	$14.2M	$75.2M	50x
Short	Phoenix XRP	1.5070	0	get 0.0000% / 1h	35m 15s	$67K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Kraken Futures. 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 Kraken FuturesbpFee PhoenixbpOrdersPrice spread, now −0.058%Rate

Funding earned: $0.22
Price spread: −0.058% → −0.007%: −$5.09
Slippage, 4 orders: −$73.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$95.41
Costs to cover: 0.905%
Break-even: 2976.6 days

Slippage from Kraken Futures: live order book, 4 min ago; Phoenix: live order book, 58 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 Kraken Futures live order book, 4 min ago	3.32 bp	9.0 bp −$9	12.3 bp −$123	19.4 bp −$1,935	39.9 bp −$20.0K
Sell Phoenix live order book, 58 min ago	6.56 bp	35.8 bp −$36	83.3 bp −$833	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	1.5077	−0.012%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0001%	1h	1.5079	long leg	$14.2M	$75.2M	50x
dYdX XRP-USD	0.0000%	1h	1.5078	−0.003%	$1.1M	$115K	10x	as long as short
Phoenix XRPshort	0.0000%	1h	1.5070	−0.058%	$67K	$110K	15x
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5084	+0.035%	$7.6M	$25.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5077	−0.009%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.191%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5077	−0.011%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5081	+0.015%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5078	−0.002%	$2.8M	$14.8M	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	1.5080	+0.008%	$496K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5066	−0.085%	$11K	$359K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5077	−0.010%	$917K	$6.3M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5091	+0.081%	$289.4M	$258.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5076	−0.019%	$38.4M	$86.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5081	+0.016%	$605K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5076	−0.017%	$528.5M	$2.19B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5070	−0.058%	$342.4M	$957.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5071	−0.052%	$124.6M	$892.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5036	−0.284%	$560K	$31K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5082	+0.021%	$136K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5057	−0.145%	$1.6M	$30K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5080	+0.008%	$369.3M	$157.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5080	+0.008%	$288.8M	$911.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5079	+0.005%	$106.7M	$180.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5079	+0.001%	$266.4M	$396.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5081	+0.015%	—	$105.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5067	−0.077%	$4.7M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5056	−0.150%	$654K	$111.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5067	−0.079%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5062	−0.111%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5078	−0.002%	—	$13K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5082	+0.021%	$51K	$493K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5077	−0.015%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5080	+0.008%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5078	−0.004%	$811K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5084	+0.037%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5080	+0.008%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5080	+0.007%	$49.3M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5075	−0.025%	$53.7M	$31.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5085	+0.042%	$470K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5077	−0.010%	$1.9M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5078	−0.004%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0123%	8h	1.5083	+0.028%	$1.7M	$35.7M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0172%	1h	1.5085	+0.041%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5085	+0.041%	$5.6M	$48.5M	50x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5065	−0.091%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5078	−0.005%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5079	+0.001%	$23.5M	$76.2M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5082	+0.020%	$514K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0599%	1h	1.5069	−0.068%	$2K	$15K	10x	as long as short