XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0428%/8h= +46.9% APRnext payment +$0.54 per $10,000 · paid last 24h −0.004%

Price spread now: Phoenix against Ondo Perps+0.285%48s7-day average +0.060% · you sell dearer than you buy

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

Long on Ondo Perps Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$9 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.285%, 7d avg +0.060%

Together, before fees−0.145%+ Points / potential airdropOndo Perps: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phoenix is 0.225% dearer against Ondo Perps than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.060%. Mind the row above: over the last 7 days funding on this pair cost −0.095%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.095% in total (about -4.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 per $10,000. 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	Ondo Perps XRP-USD.P	1.5107	0.0100	pay 0.0013% / 1h	0m 37s	$562K	$27K	5x
Short	Phoenix XRP	1.5150	0.0528	get 0.0066% / 1h	0m 37s	$67K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Ondo Perps. 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 Ondo PerpsbpFee PhoenixbpOrdersPrice spread, now +0.285%Rate

Funding earned: $89.89
Price spread: +0.285% → +0.060%: $22.48
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $100.37
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Ondo Perps: no order-book sample; Phoenix: live order book, 32 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 32 min ago	6.56 bp	35.8 bp −$36	83.3 bp −$833	doesn't fit	doesn't fit

Ondo Perps: 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	1.5103	−0.026%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5115	+0.050%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5112	+0.034%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0015%	1h	1.5119	+0.079%	$7.7M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5117	+0.064%	$14.3M	$74.8M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.999%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5112	+0.033%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5115	+0.050%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5116	+0.060%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5111	+0.026%	$10K	$356K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5104	−0.022%	$984K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5114	+0.046%	$38.9M	$86.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5115	+0.053%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5112	+0.033%	$531.4M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5114	+0.046%	$342.7M	$948.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5116	+0.060%	$124.9M	$886.0M	100x	as long as short
Ondo Perps XRP-USD.Plong	+0.0100%	1h	1.5107	long leg	$562K	$27K	5x
Arcus XRP-USD	+0.0100%	1h	1.5122	+0.099%	$137K	$721K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5115	+0.053%	$373.0M	$158.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5114	+0.046%	$293.6M	$911.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5117	+0.068%	$108.1M	$179.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5115	+0.053%	$268.3M	$391.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5110	+0.020%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5110	+0.019%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5118	+0.076%	$656K	$111.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5149	+0.278%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5120	+0.086%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5114	+0.044%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5117	+0.066%	$49K	$490K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5110	+0.022%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5113	+0.040%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5115	+0.051%	$813K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5116	+0.057%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5116	+0.060%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5115	+0.055%	$49.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5115	+0.053%	$53.8M	$31.4M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5107	+0.003%	$1.6M	$29K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5116	+0.061%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5112	+0.036%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5116	+0.059%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5107	0.000%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0179%	8h	1.5116	+0.060%	$1.8M	$35.4M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5123	+0.106%	$5.7M	$48.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5112	+0.035%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5112	+0.033%	$24.1M	$75.7M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0226%	1h	1.5126	+0.126%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5113	+0.039%	$17K	$82K	7x	as long as short
Hyperliquid XRP	+0.0351%	1h	1.5121	+0.093%	$289.6M	$256.3M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5122	+0.101%	$516K	$777K	10x	as long as short
Phoenix XRPshort	+0.0528%	1h	1.5150	+0.285%	$67K	$110K	15x
Aftermath Perps XRPUSD	+0.0636%	1h	1.5130	+0.150%	$2K	$15K	10x	as long as short