Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Phemex+0.073%57s7-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—prices read too far apart to compare

costs, in and out, $10k−$280.283% of the position

Long on Phemex Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.073%, 7d avg −0.010%

Together, before fees−0.086%−$9 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: SoDEX is 0.082% dearer against Phemex than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5142	0.0100	pay 0.0100% / 8h	4h 17m	$54.0M	$30.8M	50x
Short	SoDEX XRP-USD	1.5153	0.0100	get 0.0013% / 1h	17m 19s	$28K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → −0.010%: $8.22
Slippage, 4 orders: −$8.31
Fee Phemex: 6 bp × 2 orders: −$12
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$20.09
Costs to cover: 0.283%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; SoDEX: 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	0.66 bp	7.9 bp −$8	11.5 bp −$115	20.1 bp −$2,005	doesn't fit
Sell SoDEX live order book, 2 min ago	0.33 bp	4.3 bp −$4	6.6 bp −$66	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	1.5139	−0.020%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5151	+0.060%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5149	+0.049%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.053%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5154	+0.079%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5150	+0.052%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.761%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0044% / S +0.0024%	1h	1.5150	+0.051%	$790K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0088%	8h	1.5148	+0.040%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5152	+0.064%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5154	+0.079%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5146	+0.026%	$11K	$329K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5151	+0.056%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5160	+0.119%	$280.5M	$227.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5150	+0.055%	$38.3M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	+0.083%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	+0.066%	$534.4M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5151	+0.059%	$347.1M	$934.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	+0.079%	$126.1M	$874.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5132	−0.066%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5156	+0.092%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5174	+0.212%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5152	+0.066%	$369.3M	$154.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5147	+0.033%	$290.3M	$901.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5149	+0.048%	$108.0M	$174.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5151	+0.059%	$268.1M	$384.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5153	+0.073%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	+0.163%	$5.1M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5159	+0.113%	$660K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5139	−0.021%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5164	+0.145%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5148	+0.039%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5148	+0.040%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5151	+0.059%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	+0.055%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5151	+0.061%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5153	+0.073%	$28K	$1.7M	10x
HTX XRP-USDT	+0.0100%	8h	1.5138	−0.026%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5142	long leg	$54.0M	$30.8M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5155	+0.085%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5148	+0.043%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5155	+0.086%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5149	+0.048%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0177%	1h	1.5152	+0.066%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5154	+0.079%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5135	−0.046%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5144	+0.014%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5155	+0.086%	$24.2M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5145	+0.020%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5156	+0.093%	$516K	$775K	10x	as long as short
Aftermath Perps XRPUSD	+0.0666%	1h	1.5161	+0.127%	$2K	$15K	10x	as long as short