Funding arb · Price arb /

XRP

all XRP markets

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: Binance against Phemex−0.003%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$330.332% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)+0.087%+$9 · spread now −0.003%, 7d avg −0.002%

Together, before fees+0.052%+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5575	0.0100	pay 0.0100% / 8h	48m 12s	$55.4M	$29.3M	50x
Short	Binance XRPUSDT	1.5575	0.0100	get 0.0100% / 8h	48m 12s	$557.7M	$2.01B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → −0.002%: −$0.1
Slippage, 4 orders: −$11.22
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$33.31
Costs to cover: 0.332%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Binance: live order book, 11 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, 6 min ago	3.83 bp	10.8 bp −$11	13.6 bp −$136	21.2 bp −$2,118	doesn't fit
Sell Binance live order book, 11 min ago	0.32 bp	5.7 bp −$6	6.6 bp −$66	12.9 bp −$1,292	28.0 bp −$14.0K

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	1.5579	+0.026%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5595	+0.132%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5650	+0.482%	$70K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5576	+0.006%	$9.7M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5573	−0.012%	$261K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0106%	1h	1.5573	−0.010%	$856K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5575	+0.001%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5574	−0.006%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.096%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5575	+0.002%	$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	1.5576	+0.006%	$444K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5591	+0.100%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5576	+0.006%	$39.5M	$79.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5594	+0.121%	$642K	$1.1M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5575	−0.003%	$557.7M	$2.01B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5575	0.000%	$346.6M	$912.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5575	0.000%	$127.2M	$889.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5650	+0.482%	$582K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5595	+0.128%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.373%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5572	−0.019%	$372.2M	$143.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5576	+0.006%	$301.7M	$865.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5574	−0.006%	$113.4M	$162.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5574	−0.006%	$272.4M	$369.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5575	0.000%	—	$120.3M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	+0.376%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5649	+0.474%	$681K	$103.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5635	+0.382%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5640	+0.417%	$1.0M	$887K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5591	+0.103%	$49K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5577	+0.013%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5576	+0.005%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5582	+0.043%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5574	−0.006%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5574	−0.010%	$51.1M	$15.5M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5575	long leg	$55.4M	$29.3M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5591	+0.100%	$486K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5588	+0.084%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5596	+0.135%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5571	−0.028%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5576	+0.006%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5597	+0.141%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5586	+0.068%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5584	+0.058%	$24.4M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5583	+0.051%	$5.9M	$47.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5588	+0.080%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5599	+0.154%	$2.0M	$33.7M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0383%	1h	1.5583	+0.051%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0596%	1h	1.5595	+0.128%	$297.2M	$208.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5604	+0.188%	$509K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0827%	1h	1.5614	+0.250%	$1K	$11K	10x	as long as short