Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: edgeX against Phemex−0.020%7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 4 days (all we have)+0.170%+$17 · spread now −0.020%, 7d avg −0.018%

Together, before fees+0.064%+ Points / potential airdropedgeX: Active · farm board+$6 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5486	0.0100	pay 0.0100% / 8h	7h 00m	$55.0M	$33.2M	50x
Short	edgeX XRPUSDC	1.5483	0.0100	get 0.0050% / 4h	3h 00m	$674K	$113.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.018%: −$0.18
Slippage, 4 orders: −$10.77
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$31.94
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; edgeX: live order book, 3 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	3.54 bp	10.1 bp −$10	11.5 bp −$115	29.8 bp −$2,975	doesn't fit
Sell edgeX live order book, 3 min ago	1.29 bp	5.8 bp −$6	5.8 bp −$58	9.0 bp −$895	doesn't fit

XRP on 50 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
Kraken Futures PF_XRPUSD	−0.0168%	1h	1.5488	+0.012%	$14.2M	$73.6M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5524	+0.245%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	+0.026%	$70K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5490	+0.026%	$8.0M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5500	+0.089%	$252K	—	150x	as long as short
dYdX XRP-USD	+0.0005%	1h	1.5513	+0.171%	$1.1M	$155K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.478%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0056%	1h	1.5506	+0.129%	$18K	$78K	7x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5490	+0.026%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5486	0.000%	$2.8M	$14.8M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5490	+0.026%	$628K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5488	+0.013%	$20K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5493	+0.047%	$483K	$52K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5498	+0.081%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5482	−0.027%	$39.2M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5496	+0.065%	$627K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5482	−0.026%	$541.3M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5480	−0.039%	$361.4M	$906.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5477	−0.058%	$125.7M	$850.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5481	−0.032%	$569K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5495	+0.058%	$168K	$704K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5432	−0.347%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5475	−0.071%	$387.8M	$160.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5489	+0.019%	$313.2M	$945.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5484	−0.013%	$109.6M	$180.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5481	−0.032%	$274.3M	$361.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5473	−0.084%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5506	+0.129%	$4.9M	$38.4M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5483	−0.020%	$674K	$113.8M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5525	+0.253%	$1.1M	$32.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5485	−0.006%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5494	+0.051%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5488	+0.013%	$53K	$502K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5485	−0.008%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5490	+0.026%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5488	+0.015%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5486	0.000%	$32K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5476	−0.067%	$50.6M	$14.7M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5486	long leg	$55.0M	$33.2M	50x
Extended XRP-USD	+0.0104%	1h	1.5478	−0.050%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5486	+0.001%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0143% / S −0.0109%	1h	1.5484	−0.011%	$830K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5489	+0.019%	$5.3M	$46.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5495	+0.058%	$1.8M	$33.0M	2.9x	as long as short
Hyperliquid XRP	+0.0196%	1h	1.5493	+0.045%	$298.9M	$266.3M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5481	−0.032%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5483	−0.021%	$1.4M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0235%	1h	1.5487	+0.006%	$2.0M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5535	+0.314%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0474%	1h	1.5477	−0.060%	$3K	$15K	10x	as long as short