Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Aster against Phemex−0.020%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$330.329% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 3 days (all we have)+0.222%+$22 · spread now −0.020%, 7d avg +0.007%

Together, before fees+0.197%+ Points / potential airdropAster: Stage 5 · farm board+$20 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: Aster is 0.027% cheaper against Phemex than usual: you would sell low and buy high, −$3 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	Phemex XRPUSDT	1.5493	0.0100	pay 0.0100% / 8h	1h 09m	$55.1M	$29.0M	50x
Short	Aster XRPUSDT	1.5490	0.0100	get 0.0100% / 8h	1h 09m	$39.2M	$78.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → +0.007%: −$2.72
Slippage, 4 orders: −$12.86
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$35.58
Costs to cover: 0.329%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; Aster: 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 Phemex live order book, 4 min ago	3.22 bp	11.7 bp −$12	13.9 bp −$139	29.9 bp −$2,986	doesn't fit
Sell Aster live order book, 4 min ago	0.32 bp	4.3 bp −$4	4.6 bp −$46	12.7 bp −$1,268	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	1.5498	+0.032%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0001% / S +0.0115%	1h	1.5482	−0.072%	$847K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5486	−0.046%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5484	−0.058%	$259K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0008%	1h	1.5487	−0.039%	$9.5M	$25.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.432%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5488	−0.034%	$15.5M	$68.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5486	−0.045%	$78K	$910K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5492	−0.005%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5494	+0.006%	$440K	$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	1.5492	−0.003%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5490	−0.020%	$39.2M	$78.9M	100x
Pacifica XRP	+0.0100%	1h	1.5492	−0.007%	$638K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5490	−0.021%	$557.6M	$1.99B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5489	−0.026%	$344.1M	$902.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5489	−0.026%	$127.2M	$880.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5556	+0.407%	$578K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5492	−0.006%	$119K	$745K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	+0.054%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5487	−0.039%	$371.8M	$141.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5488	−0.032%	$300.1M	$865.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5489	−0.025%	$113.3M	$160.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5487	−0.039%	$270.4M	$365.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5485	−0.052%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5501	+0.054%	$11.8M	$30.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5525	+0.205%	$674K	$101.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5528	+0.226%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5520	+0.174%	$1.0M	$884K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5487	−0.041%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5486	−0.045%	$46K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5486	−0.046%	$42K	$65K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5486	−0.044%	$834K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5492	−0.004%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5486	−0.045%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5489	−0.025%	$50.9M	$15.4M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5493	long leg	$55.1M	$29.0M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5487	−0.040%	$483K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5484	−0.058%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5484	−0.056%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5483	−0.063%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5489	−0.026%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5478	−0.100%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5494	+0.006%	$5.9M	$47.2M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5498	+0.032%	$24.5M	$73.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5530	+0.237%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0291%	1h	1.5498	+0.032%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5502	+0.058%	$1.9M	$33.2M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5560	+0.432%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5497	+0.025%	$507K	$631K	10x	as long as short
Hyperliquid XRP	+0.0585%	1h	1.5510	+0.110%	$289.7M	$204.7M	20x	as long as short
Aftermath Perps XRPUSD	+0.0767%	1h	1.5531	+0.248%	$1K	$11K	10x	as long as short