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 MEXC+0.112%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$220.218% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$4 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.112%, 7d avg +0.001%

Together, before fees−0.143%−$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: Phemex is 0.110% dearer against MEXC than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XRP_USDT	1.5220	0.0100	pay 0.0100% / 8h	1h 02m	$312.8M	$933.8M	300x
Short	Phemex XRPUSDT	1.5237	0.0100	get 0.0100% / 8h	1h 02m	$54.6M	$32.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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 MEXCbpFee PhemexbpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → +0.001%: $11.02
Slippage, 4 orders: −$9.75
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$10.73
Costs to cover: 0.218%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Phemex: live order book, 6 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 MEXC live order book, 1 min ago	0.33 bp	0.3 bp $0	0.3 bp −$3	3.9 bp −$390	21.4 bp −$10.7K
Sell Phemex live order book, 6 min ago	0.33 bp	13.0 bp −$13	16.3 bp −$163	33.0 bp −$3,304	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	1.5227	+0.046%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5224	+0.027%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5230	+0.066%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5219	−0.003%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5233	+0.088%	$14.5M	$74.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.234%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0078%	1h	1.5237	+0.112%	$7.9M	$24.4M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0093% / S −0.0048%	1h	1.5220	−0.001%	$786K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5220	−0.002%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5221	+0.007%	$546K	$3.2M	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	+0.0099%	8h	1.5215	−0.033%	$11K	$370K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5225	+0.033%	$1.0M	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5218	−0.010%	$38.6M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5222	+0.013%	$616K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5219	−0.007%	$534.1M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5218	−0.013%	$348.9M	$960.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5219	−0.007%	$129.2M	$883.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5220	0.000%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5227	+0.046%	$145K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.022%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5217	−0.020%	$377.9M	$162.2M	100x	as long as short
MEXC XRP_USDTlong	+0.0100%	8h	1.5220	long leg	$312.8M	$933.8M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5217	−0.018%	$108.2M	$183.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5216	−0.026%	$269.1M	$395.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5218	−0.013%	—	$107.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5235	+0.097%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5225	+0.035%	$662K	$114.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5225	+0.035%	$1.1M	$35.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5227	+0.046%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5229	+0.062%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5231	+0.072%	$50K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5222	+0.015%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5233	+0.085%	$75K	$686K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5224	+0.027%	$819K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5233	+0.089%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5234	+0.092%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5224	+0.027%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5237	+0.112%	$54.6M	$32.7M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5224	+0.026%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5214	−0.042%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5232	+0.081%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5224	+0.026%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5221	+0.005%	$17K	$79K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0172%	1h	1.5239	+0.125%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5238	+0.118%	$5.7M	$48.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5232	+0.079%	$1.8M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0218%	1h	1.5231	+0.073%	$290.2M	$266.6M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5222	+0.015%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5227	+0.046%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5224	+0.028%	$529K	$806K	10x	as long as short
Aftermath Perps XRPUSD	+0.0706%	1h	1.5236	+0.105%	$2K	$16K	10x	as long as short