Funding you earn now, next payment 04:00 UTC−0.0430%/8h= −47.1% APRpaid last 24h +0.004%
Price spread now: Katana Perps against Phoenix+0.449%50s7-day average −0.031% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.062%+$6 on $10k
+Price spread, last 4 days (all we have)−0.801%−$80 · spread now +0.449%, 7d avg −0.031%
=The price spread pays, funding is against you. Katana Perps is 0.480% dearer against Phoenix than usual: you sell high and buy low (spread +0.449% now, against its 7-day average of −0.031%): +$48 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 3.7 days. Mind the row above: over the last 4 days funding on this pair paid +0.062%, so the current rate has only just turned against you. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.062% in total (about 5.9% a year). A funding rate is set anew for every payment. 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 | 1.5160 | 0.0528 | pay 0.0066% / 1h | 49m 53s | $67K | $110K | 15x |
| Short | Katana Perps XRP-USD | 1.5228 | 0.0098 | get 0.0098% / 8h | 3h 49m | $12K | $343K | 20x |
Phoenix XRP
Katana Perps XRP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Katana Perps 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
- −$90.3
- Price spread: +0.449% → −0.031%
- $47.97
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Net
- −$53.13
- Costs to cover
- 0.108%
- Break-even
- from the start
Slippage unknown: Phoenix: live order book, 48 min ago; Katana Perps: 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, 48 min ago | 6.59 bp | 35.9 bp −$36 | 95.2 bp −$952 | doesn't fit | doesn't fit |
| Sell Katana Perps no order-book sample | — | — | — | — | — |
Katana Perps: 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 | 1.5244 | +0.554% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5224 | +0.420% | $1.1M | $111K | 10x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5219 | +0.388% | $254K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0013% | 1h | 1.5221 | +0.402% | $7.8M | $25.5M | 50x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0021% | 1h | 1.5220 | +0.397% | $14.5M | $74.0M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.639% | $2K | $107K | 30x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0050% / S +0.0016% | 1h | 1.5219 | +0.390% | $781K | — | 200x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5229 | +0.458% | $2.9M | $14.6M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5225 | +0.429% | $499K | $3.3M | 20x | as long as short |
| Orderly PERP_XRP_USDC | +0.0097% | 8h | 1.5219 | +0.389% | $62K | $934K | 50x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
Deribit XRP_USDC-PERPETUAL
Kraken Futures PF_XRPUSD
Injective XRP/USDC PERP
GMX XRP/USD [ETH-USDC]
Lighter XRP
Lighter RH XRP
Orderly PERP_XRP_USDCShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps XRP-USDshort | +0.0098% | 8h | 1.5228 | +0.449% | $12K | $343K | 20x | |
| Nado XRP-PERP | +0.0100% | 1h | 1.5225 | +0.432% | $1.0M | $6.0M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5222 | +0.408% | $38.5M | $84.4M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5230 | +0.462% | $611K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5224 | +0.422% | $535.1M | $2.14B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5223 | +0.416% | $348.5M | $941.0M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5223 | +0.416% | $127.6M | $887.5M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5232 | +0.475% | $566K | $29K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5228 | +0.449% | $118K | $706K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5181 | +0.139% | $1.6M | $49K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5227 | +0.442% | $372.5M | $153.5M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5221 | +0.402% | $289.8M | $898.1M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5225 | +0.429% | $108.8M | $176.5M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5219 | +0.389% | $269.6M | $388.2M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5224 | +0.422% | — | $4.2M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5243 | +0.546% | $4.8M | $38.2M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5193 | +0.216% | $660K | $109.1M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5221 | +0.401% | $1.1M | $36.4M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5206 | +0.303% | $1.2M | $1.1M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5227 | +0.439% | — | $11K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5225 | +0.429% | $44K | $455K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5222 | +0.412% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5221 | +0.399% | $819K | $72K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5228 | +0.449% | $128K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5220 | +0.396% | $28K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5220 | +0.398% | $49.8M | $15.7M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5226 | +0.435% | $54.3M | $31.2M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5226 | +0.438% | $475K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5217 | +0.378% | $2.0M | $6.8M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5219 | +0.389% | $58K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0144% | 1h | 1.5227 | +0.442% | $9K | $8K | 10x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0184% | 1h | 1.5229 | +0.455% | $5.7M | $47.5M | 50x | as long as short |
| Reya XRPRUSDPERP | +0.0216% | 1h | 1.5222 | +0.411% | $1.3M | $7K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5224 | +0.422% | $24.2M | $76.0M | 125x | as long as short |
| Hibachi XRP/USDT-P | +0.0240% | 1h | 1.5248 | +0.580% | $17K | $82K | 7x | as long as short |
| Hyperliquid XRP | +0.0240% | 1h | 1.5243 | +0.547% | $292.7M | $234.2M | 20x | as long as short |
| Backpack XRP_USDC_PERP | +0.0317% | 1h | 1.5239 | +0.521% | $2.0M | $1.4M | 25x | as long as short |
| Kalshi KXXRPPERP | +0.0357% | 8h | 1.5230 | +0.462% | $2.0M | $35.1M | 2.9x | as long as short |
| RISEx XRP/USDC | +0.0358% | 1h | 1.5230 | +0.460% | $519K | $773K | 10x | as long as short |
| Phoenix XRPlong | +0.0528% | 1h | 1.5160 | long leg | $67K | $110K | 15x | |
| Aftermath Perps XRPUSD | +0.0635% | 1h | 1.5198 | +0.252% | $2K | $15K | 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
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
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Coinbase International XRP-PERP-INTX
Reya XRPRUSDPERP
BloFin XRP-USDT
Hibachi XRP/USDT-P
Hyperliquid XRP
Backpack XRP_USDC_PERP
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD