Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Phemex against Hotstuff−0.046%7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Phemex is 0.046% cheaper against Hotstuff than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 21 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5131	−0.0080	get 0.0010% / 1h	16m 12s	$5K	$3K	20x
Short	Phemex XRPUSDT	1.5124	0.0100	get 0.0100% / 8h	6h 16m	$53.8M	$29.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Hotstuff. 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 HotstuffbpFee PhemexbpOrdersPrice spread, now −0.046%Rate

Funding earned: $37.8
Price spread: −0.046% → 0.000%: −$4.63
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: $16.17
Costs to cover: 0.170%
Break-even: 4.0 days

Slippage unknown: Hotstuff: no order-book sample; Phemex: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	0.33 bp	12.9 bp −$13	15.8 bp −$158	28.1 bp −$2,807	doesn't fit

Hotstuff: 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 50 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-PERPlong	−0.0080%	1h	1.5131	long leg	$5K	$3K	20x
dYdX XRP-USD	0.0000%	1h	1.5130	−0.006%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.192%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5118	−0.083%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0022% / S +0.0057%	1h	1.5120	−0.073%	$799K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.835%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5119	−0.077%	$14.5M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5122	−0.059%	$62K	$953K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5123	−0.053%	$7.6M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5124	−0.047%	$2.8M	$14.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5125	−0.040%	$510K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5118	−0.086%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5120	−0.069%	$932K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5128	−0.023%	$38.4M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5128	−0.022%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5123	−0.050%	$536.6M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5119	−0.079%	$340.4M	$940.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5121	−0.066%	$124.0M	$871.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5130	−0.007%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5129	−0.013%	$114K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5125	−0.043%	$1.6M	$257K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5126	−0.033%	$367.9M	$152.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5118	−0.086%	$290.4M	$916.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5123	−0.052%	$106.8M	$171.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5120	−0.073%	$266.3M	$384.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5125	−0.040%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	+0.130%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5134	+0.019%	$657K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5152	+0.142%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5134	+0.020%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5130	−0.009%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5130	−0.007%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5129	−0.016%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5125	−0.039%	$814K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5133	+0.013%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5121	−0.066%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5122	−0.061%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5124	−0.046%	$53.8M	$29.8M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5122	−0.062%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5118	−0.086%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5122	−0.059%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5128	−0.020%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0186%	1h	1.5136	+0.033%	$280.1M	$222.2M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5125	−0.040%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5125	−0.040%	$5.7M	$46.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5128	−0.022%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0339%	1h	1.5132	+0.007%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0361%	8h	1.5131	0.000%	$2.1M	$35.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5132	+0.009%	$529K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0767%	1h	1.5144	+0.084%	$2K	$14K	10x	as long as short