Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against KuCoin+0.094%7-day average −0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$400.397% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.474%−$47 · spread now +0.094%, 7d avg −0.007%

Together, before fees−0.452%−$45 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: Phemex is 0.101% dearer against KuCoin than usual: you sell high and buy low, +$10 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	KuCoin XRPUSDTM	1.5153	0.0100	pay 0.0100% / 8h	5h 04m	$108.5M	$172.1M	75x
Short	Phemex XRPUSDT	1.5167	0.0100	get 0.0100% / 8h	5h 04m	$53.9M	$30.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.094%Rate

Funding earned: $0
Price spread: +0.094% → −0.007%: $10.12
Slippage, 4 orders: −$15.73
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$29.61
Costs to cover: 0.397%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 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 KuCoin live order book, 4 min ago	0.03 bp	7.1 bp −$7	11.6 bp −$116	29.0 bp −$2,899	doesn't fit
Sell Phemex live order book, 4 min ago	3.30 bp	10.5 bp −$11	13.9 bp −$139	23.2 bp −$2,317	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	1.5156	+0.022%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5145	−0.048%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5152	−0.005%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5149	−0.023%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0036%	1h	1.5150	−0.017%	$832K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.688%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5162	+0.061%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5150	−0.018%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5165	+0.080%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5164	+0.075%	$511K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5159	+0.042%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5159	+0.045%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5179	+0.174%	$281.9M	$223.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5155	+0.016%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5152	−0.005%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5170	+0.112%	$535.6M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5169	+0.108%	$346.2M	$930.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5170	+0.114%	$125.7M	$873.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5169	+0.108%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5160	+0.048%	$114K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.464%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5168	+0.101%	$368.9M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5166	+0.088%	$297.8M	$904.8M	300x	as long as short
KuCoin XRPUSDTMlong	+0.0100%	8h	1.5153	long leg	$108.5M	$172.1M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5169	+0.108%	$269.3M	$381.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5169	+0.108%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	+0.006%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5173	+0.132%	$659K	$107.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5183	+0.200%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5189	+0.240%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5160	+0.047%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5161	+0.055%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5159	+0.042%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5151	−0.009%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5157	+0.028%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5154	+0.009%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5153	+0.002%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5167	+0.094%	$53.9M	$30.1M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5152	−0.004%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5167	+0.092%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5149	−0.024%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0175%	1h	1.5175	+0.147%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5161	+0.056%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5158	+0.035%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5172	+0.127%	$5.7M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5167	+0.094%	$24.2M	$75.7M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5154	+0.011%	$14.4M	$73.5M	50x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5162	+0.061%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5165	+0.082%	$516K	$780K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.246%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0656%	1h	1.5186	+0.221%	$2K	$14K	10x	as long as short