Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Nado against Phemex−0.081%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.315%+$32 · spread now −0.081%, 7d avg −0.005%

Together, before fees+0.318%+ Points / potential airdropNado: Active · farm board+$32 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: Nado is 0.076% cheaper against Phemex than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5416	0.0100	pay 0.0100% / 8h	2h 06m	$55.0M	$28.3M	50x
Short	Nado XRP-PERP	1.5404	0.0100	get 0.0012% / 1h	6m 07s	$1.1M	$5.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.081%Rate

Funding earned: $0
Price spread: −0.081% → −0.005%: −$7.59
Slippage, 4 orders: −$11.72
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$38.3
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Nado: 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	2.27 bp	10.8 bp −$11	11.7 bp −$117	29.3 bp −$2,932	doesn't fit
Sell Nado live order book, 3 min ago	0.32 bp	4.7 bp −$5	9.6 bp −$96	doesn't fit	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	1.5407	−0.058%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5403	−0.084%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.221%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5405	−0.071%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5414	−0.013%	$9.4M	$24.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.817%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0048%	8h	1.5408	−0.052%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0166%	1h	1.5405	−0.069%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5416	−0.002%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5421	+0.032%	$446K	$3.1M	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-PERPshort	+0.0100%	1h	1.5404	−0.081%	$1.1M	$5.3M	20x
Aster XRPUSDT	+0.0100%	8h	1.5415	−0.009%	$39.3M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5407	−0.058%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5401	−0.096%	$554.1M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5404	−0.078%	$346.5M	$852.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5402	−0.091%	$125.9M	$847.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	−0.045%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5423	+0.045%	$119K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.360%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5403	−0.084%	$367.5M	$134.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5406	−0.065%	$288.9M	$823.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5407	−0.059%	$112.0M	$149.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5405	−0.071%	$266.9M	$346.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5404	−0.078%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.461%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	+0.176%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	−0.075%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5437	+0.136%	$1.0M	$879K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5411	−0.032%	$50K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5408	−0.053%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5406	−0.062%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5410	−0.037%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5411	−0.032%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5406	−0.067%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5416	long leg	$55.0M	$28.3M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5406	−0.068%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5405	−0.070%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5404	−0.078%	$12K	$240K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5408	−0.055%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5408	−0.050%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5412	−0.026%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5412	−0.029%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5415	−0.006%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5417	+0.006%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5406	−0.065%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5411	−0.032%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0301%	8h	1.5415	−0.006%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5416	−0.003%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5415	−0.005%	$405K	$498K	10x	as long as short
Hyperliquid XRP	+0.0512%	1h	1.5422	+0.039%	$284.1M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5427	+0.074%	$1K	$11K	10x	as long as short