Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: HTX against Phemex+0.125%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.125%, 7d avg −0.046%

Together, before fees−0.082%−$8 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: HTX is 0.171% dearer against Phemex than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5203	0.0100	pay 0.0100% / 8h	3h 47m	$54.2M	$31.1M	50x
Short	HTX XRP-USDT	1.5222	0.0100	get 0.0100% / 8h	3h 47m	$49.8M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.125%Rate

Funding earned: $0
Price spread: +0.125% → −0.046%: $17.07
Slippage, 4 orders: −$23.88
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$30.82
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; HTX: live order book, 2 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, 2 min ago	3.61 bp	10.9 bp −$11	12.0 bp −$120	27.1 bp −$2,712	doesn't fit
Sell HTX live order book, 2 min ago	0.03 bp	11.6 bp −$12	17.3 bp −$173	40.9 bp −$4,088	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	1.5216	+0.086%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5221	+0.118%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5207	+0.028%	$262K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5203	0.000%	$7.8M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5199	−0.029%	$14.4M	$74.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.348%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0051% / S +0.0015%	1h	1.5206	+0.018%	$780K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5203	0.000%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5204	+0.007%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5211	+0.053%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0099%	8h	1.5205	+0.013%	$62K	$934K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5217	+0.093%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5218	+0.095%	$38.5M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5219	+0.105%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5209	+0.039%	$534.7M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5212	+0.059%	$347.5M	$941.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5207	+0.026%	$127.4M	$887.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5232	+0.191%	$566K	$29K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5219	+0.105%	$118K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.145%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5209	+0.039%	$371.6M	$153.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5210	+0.046%	$294.0M	$898.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5213	+0.068%	$108.9M	$176.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5200	−0.020%	$269.2M	$388.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5212	+0.059%	—	$127.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5243	+0.262%	$4.8M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5208	+0.033%	$660K	$109.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5208	+0.034%	$1.1M	$36.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5214	+0.072%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5214	+0.073%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5212	+0.059%	$44K	$456K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5210	+0.047%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5207	+0.027%	$818K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5214	+0.074%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5202	−0.007%	$28K	$1.7M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5222	+0.125%	$49.8M	$15.7M	75x
Phemex XRPUSDTlong	+0.0100%	8h	1.5203	long leg	$54.2M	$31.1M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5217	+0.094%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5198	−0.030%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5200	−0.020%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5222	+0.125%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5210	+0.046%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5209	+0.041%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5212	+0.059%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5214	+0.071%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0262%	8h	1.5222	+0.125%	$2.0M	$35.0M	2.9x	as long as short
Hyperliquid XRP	+0.0282%	1h	1.5227	+0.158%	$292.9M	$234.6M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0323%	1h	1.5228	+0.164%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5220	+0.115%	$518K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	+0.112%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0650%	1h	1.5212	+0.056%	$2K	$15K	10x	as long as short