Funding you earn now, next payment 20:00 UTC+0.0445%/8h= +48.7% APRnext payment +$0.56 per $10,000 · paid last 24h +0.081%
Price spread now: Hyperliquid against Phoenix−0.111%61s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.314%+$31 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · farm boardneeds both histories
Funding pays, the price is against you. Hyperliquid is 0.111% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.111% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 20 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.314% in total) that is about 2.5 days. The two prices were read 61 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 | 1.5310 | 0 | get 0.0000% / 1h | 54m 35s | $68K | $89K | 15x |
| Short | Hyperliquid XRP | 1.5293 | 0.0445 | get 0.0056% / 1h | 54m 35s | $285.8M | $172.9M | 20x |
Phoenix XRP
Hyperliquid XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $93.37
- Price spread: −0.111% → 0.000%
- −$11.1
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $66.27
- Costs to cover
- 0.160%
- Break-even
- 2.0 days
Slippage unknown: Phoenix: no order-book sample; Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago | 0.33 bp | 4.8 bp −$5 | 5.2 bp −$52 | 9.2 bp −$915 | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| GMX XRP/USD [ETH-USDC] | L −0.0211% / S +0.0297% | 1h | 1.5321 | +0.071% | $1.7M | — | 200x | as long as short |
| Hotstuff XRP-PERP | −0.0080% | 1h | 1.5289 | −0.137% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5298 | −0.075% | $1.1M | $101K | 10x | as long as short |
| Phoenix XRPlong | 0.0000% | 1h | 1.5310 | long leg | $68K | $89K | 15x | |
| Deribit XRP_USDC-PERPETUAL | 0.0000% | 1h | 1.5331 | +0.137% | $9.3M | $23.4M | 50x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5322 | +0.080% | $256K | — | 150x | as long as short |
| Injective XRP/USDC PERP | +0.0040% | 1h | 1.5290 | −0.131% | $2K | $86K | 30x | as long as short |
| Orderly PERP_XRP_USDC | +0.0046% | 8h | 1.5322 | +0.078% | $180K | $785K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5308 | −0.012% | $3.0M | $11.0M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5305 | −0.033% | $445K | $3.1M | 20x | as long as short |
GMX XRP/USD [ETH-USDC]
Hotstuff XRP-PERP
dYdX XRP-USD
Deribit XRP_USDC-PERPETUAL
gTrade (Gains Network) XRP/USD
Injective XRP/USDC PERP
Orderly PERP_XRP_USDC
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5278 | −0.206% | $1.1M | $5.1M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5303 | −0.044% | $39.0M | $71.1M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5300 | −0.062% | $674K | $1.0M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5274 | −0.235% | $546.9M | $1.83B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5276 | −0.222% | $344.9M | $829.0M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5270 | −0.261% | $123.5M | $824.9M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5280 | −0.196% | $569K | $40K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5291 | −0.124% | $116K | $641K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5314 | +0.028% | $1.6M | $344K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5284 | −0.170% | $355.5M | $127.8M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5291 | −0.124% | $300.0M | $783.4M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5291 | −0.125% | $112.5M | $145.2M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5280 | −0.196% | $266.1M | $335.9M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5280 | −0.196% | — | $3.7M | — | as long as short |
| Backpack XRP_USDC_PERP | +0.0100% | 1h | 1.5335 | +0.163% | $1.7M | $914K | 25x | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5304 | −0.036% | $6.4M | $24.5M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5291 | −0.125% | $664K | $94.0M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5312 | +0.015% | $1.1M | $42.6M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5293 | −0.111% | $1.0M | $823K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5287 | −0.153% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5283 | −0.176% | $51K | $457K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5283 | −0.173% | $42K | $61K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5327 | +0.113% | $825K | $70K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5324 | +0.093% | $129K | $1.7M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5329 | +0.124% | $31K | $1.8M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5330 | +0.132% | $50.5M | $14.4M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5330 | +0.131% | $54.8M | $27.9M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5287 | −0.151% | $477K | $54K | 50x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5285 | −0.163% | $11K | $236K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5274 | −0.235% | $2.1M | $7.4M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5325 | +0.098% | $71K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0136% | 1h | 1.5323 | +0.085% | $8K | $8K | 10x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0170% | 1h | 1.5333 | +0.149% | $15.3M | $62.4M | 50x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0192% | 1h | 1.5337 | +0.176% | $5.3M | $42.6M | 50x | as long as short |
| Kalshi KXXRPPERP | +0.0202% | 8h | 1.5322 | +0.078% | $1.7M | $31.9M | 2.9x | as long as short |
| Reya XRPRUSDPERP | +0.0210% | 1h | 1.5281 | −0.186% | $1.4M | $10K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5325 | +0.098% | $24.1M | $65.8M | 125x | as long as short |
| Hibachi XRP/USDT-P | +0.0256% | 1h | 1.5289 | −0.138% | $19K | $54K | 7x | as long as short |
| RISEx XRP/USDC | +0.0431% | 1h | 1.5294 | −0.106% | $405K | $503K | 10x | as long as short |
| Hyperliquid XRPshort | +0.0445% | 1h | 1.5293 | −0.111% | $285.8M | $172.9M | 20x | |
| Aftermath Perps XRPUSD | +0.0544% | 1h | 1.5322 | +0.078% | $1K | $10K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Backpack XRP_USDC_PERP
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Kraken Futures PF_XRPUSD
Coinbase International XRP-PERP-INTX
Kalshi KXXRPPERP
Reya XRPRUSDPERP
BloFin XRP-USDT
Hibachi XRP/USDT-P
RISEx XRP/USDC
Aftermath Perps XRPUSD