XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0573%/8h= −62.8% APRnext payment −$0.72 per $10,000 · paid last 24h −0.089%

Price spread now: GMX against Phoenix+0.216%7-day average +0.036% · you sell dearer than you buy

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

Long on Phoenix Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.167%−$17 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.216%, 7d avg +0.036%

Together, before fees−0.328%−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GMX is 0.179% dearer against Phoenix than usual: you sell high and buy low (spread +0.216% now, against its 7-day average of +0.036%): +$18 on $10k if it goes back. Holding the pair costs −$17 a day in funding at the current rate, which eats that in about 25 hours. At the pace of the last 3 days (−0.167% in total) that is about 3.5 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.167% in total (about -18.7% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XRP	1.5130	0.0528	pay 0.0066% / 1h	35m 25s	$67K	$110K	15x
Short	GMX XRP/USD [ETH-USDC]	1.5163	L +0.0033% / S +0.0045%	pay 0.0006% / 1h	35m 25s	$818K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 PhoenixbpFee GMXbpOrdersPrice spread, now +0.216%Rate

Funding earned: −$120.41
Price spread: +0.216% → +0.036%: $17.95
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: −$121.46
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: live order book, 7 min ago; GMX: 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 Phoenix live order book, 7 min ago	6.59 bp	35.9 bp −$36	94.9 bp −$949	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	1.5155	+0.165%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5150	+0.135%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5163	+0.217%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0033% / S +0.0045%	1h	1.5163	+0.216%	$818K	—	200x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.842%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5159	+0.192%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5166	+0.238%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5169	+0.258%	$7.7M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5151	+0.136%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5150	+0.132%	$512K	$3.3M	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	1.5150	+0.132%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5162	+0.215%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5173	+0.284%	$281.0M	$220.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5157	+0.180%	$38.5M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5152	+0.144%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5166	+0.238%	$537.6M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5166	+0.238%	$344.1M	$925.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5170	+0.264%	$125.6M	$867.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5112	−0.119%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5157	+0.178%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	+0.173%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5163	+0.218%	$369.8M	$151.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5165	+0.231%	$294.1M	$896.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5166	+0.237%	$106.8M	$171.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5166	+0.238%	$266.9M	$380.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5167	+0.245%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	+0.136%	$5.7M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5123	−0.048%	$657K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5134	+0.026%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5125	−0.033%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5158	+0.184%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5166	+0.238%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5165	+0.231%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5170	+0.263%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5171	+0.268%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5157	+0.178%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5137	+0.046%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5157	+0.178%	$53.9M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5155	+0.166%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5149	+0.128%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5165	+0.229%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0201%	1h	1.5165	+0.231%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5165	+0.232%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5160	+0.198%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5139	+0.059%	$24.2M	$74.7M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5154	+0.156%	$14.5M	$73.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5131	+0.009%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0352%	8h	1.5142	+0.079%	$2.2M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5160	+0.200%	$516K	$776K	10x	as long as short
Phoenix XRPlong	+0.0528%	1h	1.5130	long leg	$67K	$110K	15x
Aftermath Perps XRPUSD	+0.0698%	1h	1.5138	+0.054%	$2K	$14K	10x	as long as short