Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Bybit+0.007%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$290.294% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.369%−$37 · spread now +0.007%, 7d avg +0.005%

Together, before fees−0.371%−$37 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5326	0.0100	pay 0.0100% / 8h	7h 17m	$357.2M	$917.8M	100x
Short	Phemex XRPUSDT	1.5327	0.0100	get 0.0100% / 8h	7h 17m	$54.4M	$33.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.005%: $0.17
Slippage, 4 orders: −$6.42
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$29.25
Costs to cover: 0.294%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Phemex: live order book, 2 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 Bybit live order book, 2 min ago	0.33 bp	7.4 bp −$7	10.3 bp −$103	16.5 bp −$1,645	28.2 bp −$14.1K
Sell Phemex live order book, 2 min ago	0.33 bp	8.5 bp −$9	15.3 bp −$153	28.9 bp −$2,887	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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5320	−0.038%	$14.0M	$75.1M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5314	−0.078%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5310	−0.104%	$69K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5327	+0.007%	$7.8M	$22.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5323	−0.017%	$249K	—	150x	as long as short
dYdX XRP-USD	+0.0007%	1h	1.5308	−0.118%	$1.1M	$123K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.527%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5320	−0.039%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5325	−0.008%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5327	+0.008%	$2.8M	$14.7M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5331	+0.033%	$623K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5313	−0.085%	$20K	$379K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5324	−0.016%	$1.0M	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5329	+0.019%	$38.8M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5317	−0.058%	$616K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5328	+0.012%	$534.3M	$2.14B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5326	long leg	$357.2M	$917.8M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5326	0.000%	$127.5M	$841.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5302	−0.157%	$561K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5327	+0.007%	$145K	$697K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5316	−0.066%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5324	−0.013%	$376.2M	$155.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5325	−0.007%	$318.5M	$926.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5328	+0.013%	$107.9M	$180.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5325	−0.007%	$271.4M	$367.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5325	−0.007%	—	$106.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	−0.109%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5290	−0.235%	$664K	$113.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5305	−0.134%	$1.1M	$33.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5296	−0.196%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5318	−0.051%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5313	−0.085%	$52K	$504K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5320	−0.041%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5325	−0.007%	$78K	$646K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−1.151%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5323	−0.017%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5323	−0.020%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5329	+0.018%	$50.0M	$14.0M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5327	+0.007%	$54.4M	$33.1M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5325	−0.004%	$478K	$53K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5318	−0.054%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5322	−0.028%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0132% / S −0.0094%	1h	1.5323	−0.019%	$784K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5327	+0.007%	$5.3M	$47.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5325	−0.007%	$1.7M	$32.9M	2.9x	as long as short
Hyperliquid XRP	+0.0179%	1h	1.5339	+0.085%	$293.2M	$265.0M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0216%	1h	1.5336	+0.065%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5327	+0.007%	$23.8M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5308	−0.115%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5325	−0.007%	$525K	$784K	10x	as long as short
Aftermath Perps XRPUSD	+0.0521%	1h	1.5274	−0.340%	$3K	$16K	10x	as long as short