Funding arb · Price arb /

XRP

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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: Paradex against Phemex+0.047%7-day average +0.010% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Phemex Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.141%+$14 · spread now +0.047%, 7d avg +0.010%

Together, before fees+0.143%+ Points / potential airdropParadex: Active · farm board+$14 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: Paradex is 0.036% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5178	0.0100	pay 0.0100% / 8h	3h 24m	$54.0M	$31.1M	50x
Short	Paradex XRP-USD-PERP	1.5185	0.0100	get 0.0100% / 8h	3h 24m	$473K	$55K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now +0.047%Rate

Funding earned: $0
Price spread: +0.047% → +0.010%: $3.63
Slippage, 4 orders: −$15.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$27.5
Costs to cover: 0.311%
Break-even: 228057957.7 days

Slippage from Phemex: live order book, 4 min ago; Paradex: live order book, 29 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, 4 min ago	1.64 bp	9.4 bp −$9	12.5 bp −$125	18.8 bp −$1,875	doesn't fit
Sell Paradex live order book, 29 min ago	4.61 bp	6.6 bp −$7	155.8 bp −$1,558	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	1.5184	+0.040%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	+0.064%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5180	+0.013%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5177	−0.004%	$254K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5174	−0.028%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.517%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5177	−0.008%	$792K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5179	+0.004%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5180	+0.013%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5187	+0.059%	$10K	$347K	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-PERP	+0.0100%	1h	1.5183	+0.036%	$989K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5165	−0.086%	$38.7M	$85.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5188	+0.065%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5165	−0.086%	$534.7M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5165	−0.086%	$346.2M	$943.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5167	−0.072%	$126.5M	$882.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	+0.026%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5189	+0.072%	$134K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5212	+0.224%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5166	−0.079%	$368.5M	$155.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5164	−0.092%	$296.0M	$904.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5166	−0.079%	$109.1M	$177.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5160	−0.119%	$268.9M	$389.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5166	−0.079%	—	$127.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5187	+0.057%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.070%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5219	+0.270%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.119%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5184	+0.040%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5183	+0.033%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5178	0.000%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5178	0.000%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5179	+0.009%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5183	+0.034%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5174	−0.026%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5186	+0.055%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5178	long leg	$54.0M	$31.1M	50x
Paradex XRP-USD-PERPshort	+0.0100%	8h	1.5185	+0.047%	$473K	$55K	50x
Extended XRP-USD	+0.0104%	1h	1.5159	−0.124%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5173	−0.033%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5190	+0.079%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5184	+0.040%	$5.7M	$47.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5176	−0.014%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	+0.007%	$24.1M	$76.0M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0264%	1h	1.5182	+0.026%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5191	+0.088%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0331%	8h	1.5185	+0.046%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5187	+0.062%	$517K	$776K	10x	as long as short
Hyperliquid XRP	+0.0401%	1h	1.5191	+0.086%	$300.5M	$246.2M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.079%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0679%	1h	1.5204	+0.173%	$2K	$15K	10x	as long as short