Funding you earn now, next payment 23:00 UTC+0.0498%/8h= +54.6% APRpaid last 24h +0.069%
Price spread now: Hyperliquid against Phemex+0.167%48s7-day average +0.065% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as 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−$340.344% of the position
Funding, last 7 days+0.152%+$15 on $10k
+Price spread, last 3 days (all we have)+0.068%+$7 · spread now +0.167%, 7d avg +0.065%
=Together, before fees+0.220%+ Points / potential airdropHyperliquid: Season 2 · farm board+$22 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 0.102% dearer against Phemex than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.065%. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.152% in total (about 7.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex XRPUSDT | 1.5559 | 0.0100 | pay 0.0100% / 8h | 1h 22m | $55.4M | $29.2M | 50x |
| Short | Hyperliquid XRP | 1.5585 | 0.0598 | get 0.0075% / 1h | 22m 20s | $291.8M | $202.7M | 20x |
Phemex XRPUSDT
Hyperliquid XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $104.67
- Price spread: +0.167% → +0.065%
- $10.25
- Slippage, 4 orders
- −$13.39
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $80.53
- Costs to cover
- 0.344%
- Break-even
- 1.6 days
Slippage from Phemex: live order book, 2 min ago; Hyperliquid: live order book, 12 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 | 2.25 bp | 13.8 bp −$14 | 15.6 bp −$156 | 25.3 bp −$2,532 | doesn't fit |
| Sell Hyperliquid live order book, 12 min ago | 0.32 bp | 4.8 bp −$5 | 5.7 bp −$57 | 10.1 bp −$1,014 | 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 | 1.5566 | +0.045% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5557 | −0.011% | $1.1M | $113K | 10x | as long as short |
| Deribit XRP_USDC-PERPETUAL | 0.0000% | 1h | 1.5565 | +0.039% | $9.6M | $25.3M | 50x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5578 | +0.123% | $261K | — | 150x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5290 | −1.729% | $23K | $86K | 30x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0041% | 1h | 1.5559 | +0.003% | $15.5M | $68.6M | 50x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0053% / S +0.0120% | 1h | 1.5574 | +0.096% | $1.1M | — | 200x | as long as short |
| Orderly PERP_XRP_USDC | +0.0054% | 8h | 1.5580 | +0.135% | $78K | $949K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5559 | −0.002% | $3.0M | $12.2M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5558 | −0.006% | $441K | $3.2M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Deribit XRP_USDC-PERPETUAL
gTrade (Gains Network) XRP/USD
Injective XRP/USDC PERP
Kraken Futures PF_XRPUSD
GMX XRP/USD [ETH-USDC]
Orderly PERP_XRP_USDC
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5562 | +0.022% | $1.1M | $5.4M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5570 | +0.071% | $39.5M | $78.5M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5563 | +0.029% | $641K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5578 | +0.121% | $560.3M | $1.97B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5581 | +0.141% | $347.6M | $897.6M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5581 | +0.141% | $127.6M | $882.5M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5556 | −0.019% | $578K | $41K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5573 | +0.090% | $119K | $741K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5573 | +0.090% | $374.5M | $140.4M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5568 | +0.058% | $298.6M | $854.7M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5568 | +0.057% | $114.0M | $159.1M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5568 | +0.058% | $271.8M | $363.3M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5567 | +0.051% | — | $3.7M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5537 | −0.144% | $11.7M | $30.1M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5544 | −0.094% | $676K | $101.7M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5571 | +0.077% | $1.1M | $41.2M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5557 | −0.013% | $1.0M | $883K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5565 | +0.038% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5572 | +0.084% | $46K | $445K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5563 | +0.024% | $42K | $66K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5562 | +0.019% | $838K | $81K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5577 | +0.113% | $130K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5563 | +0.026% | $34K | $1.9M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5557 | −0.012% | $51.1M | $15.4M | 75x | as long as short |
| Phemex XRPUSDTlong | +0.0100% | 8h | 1.5559 | long leg | $55.4M | $29.2M | 50x | |
| Bulk XRP-USD | +0.0100% | 1h | 1.5477 | −0.529% | $1.7M | $578K | 20x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5562 | +0.021% | $485K | $54K | 50x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5566 | +0.045% | $12K | $259K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5569 | +0.064% | $2.1M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5558 | −0.003% | $73K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0176% | 1h | 1.5574 | +0.096% | $8K | $8K | 10x | as long as short |
| Hibachi XRP/USDT-P | +0.0200% | 1h | 1.5585 | +0.167% | $18K | $82K | 7x | as long as short |
| Reya XRPRUSDPERP | +0.0211% | 1h | 1.5566 | +0.043% | $1.4M | $9K | 15x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0216% | 1h | 1.5570 | +0.071% | $5.8M | $47.3M | 50x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5563 | +0.026% | $24.5M | $73.9M | 125x | as long as short |
| Backpack XRP_USDC_PERP | +0.0290% | 1h | 1.5564 | +0.032% | $1.8M | $1.0M | 25x | as long as short |
| Kalshi KXXRPPERP | +0.0322% | 8h | 1.5587 | +0.180% | $1.9M | $32.8M | 2.9x | as long as short |
| Phoenix XRP | +0.0516% | 1h | 1.5570 | +0.071% | $69K | $90K | 15x | as long as short |
| RISEx XRP/USDC | +0.0527% | 1h | 1.5580 | +0.135% | $510K | $630K | 10x | as long as short |
| Hyperliquid XRPshort | +0.0598% | 1h | 1.5585 | +0.167% | $291.8M | $202.7M | 20x | |
| Aftermath Perps XRPUSD | +0.0738% | 1h | 1.5559 | −0.002% | $1K | $11K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Bulk XRP-USD
Paradex XRP-USD-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Hibachi XRP/USDT-P
Reya XRPRUSDPERP
Coinbase International XRP-PERP-INTX
BloFin XRP-USDT
Backpack XRP_USDC_PERP
Kalshi KXXRPPERP
Phoenix XRP
RISEx XRP/USDC
Aftermath Perps XRPUSD