Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: HTX against Phoenix−0.287%72s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.249%+$25 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. HTX is 0.287% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.287% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$29 on $10k: about 9.6 days of funding at the current rate (+$3 a day). The two prices were read 72 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	Phoenix XRP	1.5450	0	get 0.0000% / 1h	5m 46s	$69K	$89K	15x
Short	HTX XRP-USDT	1.5406	0.0100	get 0.0100% / 8h	2h 05m	$50.7M	$14.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Phoenix. 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 PhoenixbpFee HTXbpOrdersPrice spread, now −0.287%Rate

Funding earned: $21
Price spread: −0.287% → 0.000%: −$28.74
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$26.74
Costs to cover: 0.190%
Break-even: 15.9 days

Slippage unknown: Phoenix: no order-book sample; HTX: live order book, 3 min ago. 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 no order-book sample	—	—	—	—	—
Sell HTX live order book, 3 min ago	0.03 bp	9.2 bp −$9	15.1 bp −$151	31.6 bp −$3,163	115.3 bp −$57.6K

Phoenix: 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	1.5407	−0.278%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5395	−0.355%	$1.1M	$101K	10x	as long as short
Phoenix XRPlong	0.0000%	1h	1.5450	long leg	$69K	$89K	15x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5405	−0.291%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5414	−0.233%	$9.4M	$24.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.036%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0048%	8h	1.5408	−0.272%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0166%	1h	1.5405	−0.289%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5399	−0.329%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5401	−0.317%	$445K	$3.1M	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	1.5404	−0.301%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5398	−0.338%	$39.2M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5396	−0.350%	$672K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5392	−0.375%	$553.8M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5395	−0.356%	$346.2M	$852.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5393	−0.369%	$125.9M	$847.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	−0.265%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5415	−0.227%	$120K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.139%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5402	−0.311%	$367.5M	$134.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5393	−0.369%	$288.4M	$824.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5392	−0.379%	$112.0M	$149.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5391	−0.382%	$266.9M	$346.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5403	−0.304%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.240%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	−0.044%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	−0.295%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5437	−0.084%	$1.0M	$879K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5411	−0.252%	$50K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5408	−0.273%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5406	−0.282%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5410	−0.257%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5411	−0.252%	$31K	$1.9M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5406	−0.287%	$50.7M	$14.9M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5416	−0.220%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5392	−0.374%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5405	−0.290%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5404	−0.298%	$12K	$240K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5399	−0.332%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5408	−0.270%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5412	−0.246%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5412	−0.249%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5415	−0.227%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5417	−0.214%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5406	−0.285%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5411	−0.252%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0301%	8h	1.5415	−0.227%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5416	−0.223%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5415	−0.225%	$405K	$498K	10x	as long as short
Hyperliquid XRP	+0.0512%	1h	1.5419	−0.201%	$284.0M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5427	−0.146%	$1K	$11K	10x	as long as short