Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h −0.004%

Price spread now: Vest against Phemex−0.046%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on Vest

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Funding pays, the price is against you. Vest is 0.046% cheaper against Phemex than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 16 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5393	0.0091	pay 0.0091% / 8h	7h 54m	$54.8M	$29.8M	50x
Short	Vest XRP-PERP	1.5386	0.0100	get 0.0013% / 1h	54m 02s	—	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Vest 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 VestbpOrdersPrice spread, now −0.046%Rate

Funding earned: $1.98
Price spread: −0.046% → 0.000%: −$4.57
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Vest: 1 bp × 2 orders: −$2
Net: −$16.59
Costs to cover: 0.140%
Break-even: 65.5 days

Slippage unknown: Phemex: live order book, 5 min ago; Vest: no order-book sample. Net counts fees only.

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, 5 min ago	5.86 bp	11.9 bp −$12	14.1 bp −$141	27.5 bp −$2,748	doesn't fit
Sell Vest no order-book sample	—	—	—	—	—

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5389	−0.026%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5377	−0.103%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5400	+0.045%	$69K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5394	+0.006%	$258K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0009% / S +0.0088%	1h	1.5390	−0.020%	$844K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.085%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5395	+0.013%	$76K	$910K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5402	+0.058%	$8K	$8K	10x	as long as short
Phemex XRPUSDTlong	+0.0091%	8h	1.5393	long leg	$54.8M	$29.8M	50x
Lighter XRP	+0.0096%	1h	1.5395	+0.014%	$2.9M	$13.7M	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	1.5397	+0.026%	$514K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5397	+0.026%	$12K	$271K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5396	+0.023%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5396	+0.023%	$39.0M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5385	−0.054%	$636K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5394	+0.007%	$541.8M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5394	+0.006%	$341.2M	$932.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5395	+0.013%	$125.8M	$885.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5339	−0.351%	$572K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5397	+0.026%	$117K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	−0.364%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5393	0.000%	$375.7M	$147.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5395	+0.013%	$301.5M	$891.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5393	−0.001%	$109.5M	$167.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5396	+0.019%	$270.0M	$377.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5392	−0.006%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5388	−0.030%	$6.5M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5360	−0.211%	$669K	$106.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5389	−0.026%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5367	−0.169%	$1.0M	$906K	50x	as long as short
Vest XRP-PERPshort	+0.0100%	1h	1.5386	−0.046%	—	$10K	10x
Polymarket Perps XRP-USD	+0.0100%	1h	1.5397	+0.026%	$48K	$459K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5392	−0.006%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5399	+0.041%	$829K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5399	+0.038%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5396	+0.019%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5389	−0.027%	$50.5M	$15.7M	75x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5389	−0.024%	$480K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5391	−0.010%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5385	−0.050%	$59K	$22K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0140%	1h	1.5400	+0.045%	$9.3M	$25.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5392	−0.004%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5371	−0.143%	$23.9M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5401	+0.052%	$5.8M	$47.0M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5396	+0.019%	$14.9M	$70.2M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5371	−0.141%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0307%	1h	1.5405	+0.078%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0318%	8h	1.5399	+0.039%	$2.1M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0546%	1h	1.5409	+0.104%	$292.3M	$214.9M	20x	as long as short
Aftermath Perps XRPUSD	+0.0765%	1h	1.5367	−0.166%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5401	+0.053%	$510K	$755K	10x	as long as short