Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.017%

Price spread now: Phoenix against MEXC+0.256%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.130%−$13 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.256% dearer against MEXC than usual: you sell high and buy low (spread +0.256% now, against zero (this spread has no 7-day history yet)): +$26 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 8.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XRP_USDT	1.5610	0.0100	pay 0.0100% / 8h	46m 58s	$302.5M	$867.0M	300x
Short	Phoenix XRP	1.5650	0	get 0.0000% / 1h	46m 58s	$70K	$90K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.256%Rate

Funding earned: −$21
Price spread: +0.256% → 0.000%: $25.62
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$2.38
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: MEXC: live order book, 2 min ago; Phoenix: no order-book sample. 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 MEXC live order book, 2 min ago	0.32 bp	0.3 bp $0	0.3 bp −$3	4.0 bp −$398	22.7 bp −$11.4K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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-PERP	−0.0080%	1h	1.5571	−0.250%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5574	−0.231%	$1.1M	$113K	10x	as long as short
Phoenix XRPshort	0.0000%	1h	1.5650	+0.256%	$70K	$90K	15x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5567	−0.276%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0106%	1h	1.5568	−0.268%	$856K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5576	−0.218%	$9.7M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5584	−0.167%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5570	−0.256%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.320%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5584	−0.168%	$3.0M	$12.5M	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	1.5586	−0.154%	$444K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5571	−0.253%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5596	−0.088%	$39.6M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5579	−0.201%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5614	+0.026%	$559.1M	$2.01B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5612	+0.013%	$347.5M	$913.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5603	−0.045%	$127.2M	$891.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5568	−0.269%	$582K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5572	−0.243%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.148%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5587	−0.147%	$372.5M	$143.2M	100x	as long as short
MEXC XRP_USDTlong	+0.0100%	8h	1.5610	long leg	$302.5M	$867.0M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5611	+0.009%	$113.6M	$163.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5610	0.000%	$273.0M	$369.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5596	−0.090%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	+0.151%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	−0.109%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	−0.032%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5640	+0.192%	$1.0M	$887K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5569	−0.264%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5570	−0.256%	$48K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5571	−0.250%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5573	−0.235%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5578	−0.206%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5579	−0.199%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5567	−0.279%	$51.1M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5580	−0.192%	$55.4M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5570	−0.258%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5574	−0.231%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5607	−0.022%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5575	−0.227%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5571	−0.250%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5562	−0.310%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	−0.160%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5588	−0.141%	$5.9M	$47.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5580	−0.189%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5568	−0.269%	$1.9M	$33.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0378%	1h	1.5597	−0.083%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0613%	1h	1.5610	0.000%	$297.4M	$208.7M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5579	−0.202%	$508K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0831%	1h	1.5606	−0.026%	$1K	$11K	10x	as long as short