Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against ApeX Omni−0.066%77s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.456% of the position

Long on ApeX Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.069%−$7 on $10k

Price spread, last 4 days (all we have)+0.201%+$20 · spread now −0.066%, 7d avg −0.027%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.039% cheaper against ApeX Omni than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.027%. The two prices were read 77 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	ApeX Omni XRPUSDT	1.5213	0.0100	pay 0.0013% / 1h	43m 52s	$1.2M	$1.1M	50x
Short	Phemex XRPUSDT	1.5203	0.0100	get 0.0100% / 8h	3h 43m	$54.2M	$31.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against ApeX Omni. 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 ApeX OmnibpFee PhemexbpOrdersPrice spread, now −0.066%Rate

Funding earned: $0
Price spread: −0.066% → −0.027%: −$3.9
Slippage, 4 orders: −$23.61
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$49.5
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 5 min ago; Phemex: live order book, 5 min ago.

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 ApeX Omni live order book, 5 min ago	4.27 bp	10.1 bp −$10	14.2 bp −$142	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	3.61 bp	15.3 bp −$15	19.8 bp −$198	27.4 bp −$2,743	doesn't fit

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	1.5204	−0.059%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5195	−0.120%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5201	−0.078%	$262K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5206	−0.046%	$14.4M	$74.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.281%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0051% / S +0.0014%	1h	1.5202	−0.075%	$780K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5209	−0.026%	$7.8M	$25.6M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5210	−0.021%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5211	−0.013%	$499K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5200	−0.085%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0099%	8h	1.5202	−0.072%	$62K	$934K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5202	−0.069%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5212	−0.007%	$38.4M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5200	−0.083%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5207	−0.038%	$534.7M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5208	−0.033%	$346.8M	$941.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5210	−0.020%	$127.2M	$887.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5193	−0.131%	$566K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5209	−0.026%	$118K	$702K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.210%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5209	−0.026%	$371.5M	$154.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5206	−0.046%	$293.4M	$899.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5211	−0.013%	$109.1M	$176.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5206	−0.046%	$269.3M	$388.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5207	−0.039%	—	$127.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5202	−0.073%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5212	−0.005%	$661K	$109.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5208	−0.032%	$1.1M	$36.7M	20x	as long as short
ApeX Omni XRPUSDTlong	+0.0100%	1h	1.5213	long leg	$1.2M	$1.1M	50x
Vest XRP-PERP	+0.0100%	1h	1.5204	−0.057%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5204	−0.059%	$45K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5204	−0.058%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5205	−0.054%	$818K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5202	−0.070%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5206	−0.046%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5201	−0.077%	$49.7M	$15.7M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5203	−0.066%	$54.2M	$31.1M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5200	−0.082%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5204	−0.057%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5202	−0.072%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5210	−0.020%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5212	−0.007%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5200	−0.084%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5206	−0.046%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5202	−0.072%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0288%	8h	1.5207	−0.039%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0295%	1h	1.5220	+0.046%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0313%	1h	1.5225	+0.079%	$293.0M	$234.7M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5209	−0.027%	$518K	$774K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	+0.046%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0661%	1h	1.5212	−0.009%	$2K	$15K	10x	as long as short