Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Phemex−0.051%77s7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.349% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now −0.051%, 7d avg +0.029%

Together, before fees−0.015%−$2 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: ApeX Omni is 0.080% cheaper against Phemex than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.029%. The two prices were read 77 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5563	0.0100	pay 0.0100% / 8h	1h 16m	$55.4M	$29.1M	50x
Short	ApeX Omni XRPUSDT	1.5555	0.0100	get 0.0013% / 1h	16m 22s	$1.0M	$883K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.051%Rate

Funding earned: $0
Price spread: −0.051% → +0.029%: −$8.01
Slippage, 4 orders: −$12.88
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$42.88
Costs to cover: 0.349%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; ApeX Omni: live order book, 8 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 Phemex live order book, 3 min ago	0.32 bp	11.1 bp −$11	16.0 bp −$160	23.7 bp −$2,370	doesn't fit
Sell ApeX Omni live order book, 8 min ago	1.28 bp	6.3 bp −$6	10.6 bp −$106	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	1.5570	+0.045%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0003% / S +0.0117%	1h	1.5574	+0.068%	$852K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5574	+0.073%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5569	+0.039%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5574	+0.067%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.019%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5561	−0.015%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5573	+0.064%	$78K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5579	+0.100%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5582	+0.122%	$441K	$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
Nado XRP-PERP	+0.0100%	1h	1.5587	+0.157%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5585	+0.139%	$39.5M	$78.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5582	+0.123%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5579	+0.100%	$560.5M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5576	+0.084%	$346.6M	$900.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5573	+0.064%	$127.7M	$882.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5554	−0.058%	$579K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5593	+0.193%	$119K	$744K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	+0.024%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5581	+0.116%	$374.6M	$140.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5582	+0.122%	$300.4M	$859.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5583	+0.128%	$114.1M	$159.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5572	+0.058%	$272.0M	$364.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5580	+0.109%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5549	−0.093%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5567	+0.025%	$676K	$102.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5549	−0.089%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDTshort	+0.0100%	1h	1.5555	−0.051%	$1.0M	$883K	50x
Vest XRP-PERP	+0.0100%	1h	1.5577	+0.093%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5587	+0.154%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5576	+0.084%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5576	+0.083%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5573	+0.062%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5566	+0.019%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5582	+0.123%	$51.2M	$15.4M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5563	long leg	$55.4M	$29.1M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5579	+0.103%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5584	+0.135%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5565	+0.015%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5573	+0.066%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5594	+0.199%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5581	+0.113%	$1.4M	$9K	15x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5558	−0.032%	$18K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5570	+0.045%	$5.8M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5567	+0.026%	$24.5M	$73.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0294%	1h	1.5577	+0.090%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0324%	8h	1.5588	+0.161%	$1.9M	$33.1M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5550	−0.084%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5602	+0.249%	$511K	$630K	10x	as long as short
Hyperliquid XRP	+0.0595%	1h	1.5601	+0.244%	$291.6M	$204.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0755%	1h	1.5570	+0.045%	$1K	$11K	10x	as long as short