Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0728%/8h= +79.7% APRpaid last 24h +0.109%

Price spread now: RISEx against Phemex−0.037%7-day average +0.046% · 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−$36as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.300%+$30 on $10k

Price spread, last 3 days (all we have)+0.183%+$18 · spread now −0.037%, 7d avg +0.046%

Together, before fees+0.483%+$48 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.083% cheaper against Phemex than usual: you would sell low and buy high (spread −0.037% now, against its 7-day average of +0.046%). If the spread goes back, that is −$8 on $10k: about 9 hours of funding at the current rate (+$22 a day). At the pace of the last 3 days (+0.300% in total) that is about 23 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5360	0.0100	pay 0.0100% / 8h	7h 25m	$54.6M	$29.5M	50x
Short	RISEx XRP/USDC	1.5354	0.0828	get 0.0103% / 1h	25m 53s	$507K	$754K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.037%Rate

Funding earned: $152.84
Price spread: −0.037% → +0.046%: −$8.33
Slippage, 4 orders: −$10.1
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: $116.41
Costs to cover: 0.281%
Break-even: 1.7 days

Slippage from Phemex: live order book, 3 min ago; RISEx: live order book, 48 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	0.33 bp	9.3 bp −$9	13.7 bp −$137	20.5 bp −$2,051	doesn't fit
Sell RISEx live order book, 48 min ago	1.37 bp	4.4 bp −$4	9.0 bp −$90	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	1.5335	−0.163%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5347	−0.085%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5352	−0.053%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0078%	1h	1.5351	−0.056%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.302%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5360	0.000%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5365	+0.033%	$9.3M	$25.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5351	−0.059%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5365	+0.035%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5364	+0.026%	$515K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5348	−0.078%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5360	0.000%	$479K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5354	−0.041%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5359	−0.007%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5350	−0.068%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5366	+0.039%	$542.0M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5371	+0.072%	$342.6M	$919.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5370	+0.065%	$124.9M	$869.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.286%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5352	−0.052%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.167%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5362	+0.013%	$374.9M	$149.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5365	+0.033%	$313.9M	$905.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5358	−0.012%	$109.1M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5370	+0.065%	$268.9M	$375.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5361	+0.007%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	−0.052%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5322	−0.248%	$665K	$107.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.169%	$1.1M	$38.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5331	−0.189%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5343	−0.108%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5352	−0.052%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5354	−0.039%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5363	+0.018%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5354	−0.040%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5363	+0.020%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5368	+0.051%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5360	long leg	$54.6M	$29.5M	50x
Extended XRP-USD	+0.0104%	1h	1.5353	−0.045%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5360	+0.002%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5348	−0.076%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5341	−0.124%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5371	+0.072%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5364	+0.023%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5369	+0.059%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5359	−0.007%	$2.0M	$34.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5337	−0.149%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0394%	1h	1.5383	+0.150%	$290.0M	$215.3M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5340	−0.130%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0804%	1h	1.5338	−0.143%	$2K	$12K	10x	as long as short
RISEx XRP/USDCshort	+0.0828%	1h	1.5354	−0.037%	$507K	$754K	10x