XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0171%/8h= +18.8% APRnext payment +$0.21 per $10,000 · paid last 24h −0.006%

Price spread now: Phoenix against Kraken Futures+0.061%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$850.851% of the position

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 4 days (all we have)+0.476%+$48 · spread now +0.061%, 7d avg −0.003%

Together, before fees+0.252%+$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Phoenix is 0.064% dearer against Kraken Futures than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.224%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5211	−0.0171	get 0.0021% / 1h	36m 56s	$14.7M	$75.3M	50x
Short	Phoenix XRP	1.5220	0	get 0.0000% / 1h	36m 56s	$68K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Kraken Futures. 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 Kraken FuturesbpFee PhoenixbpOrdersPrice spread, now +0.061%Rate

Funding earned: $35.98
Price spread: +0.061% → −0.003%: $6.39
Slippage, 4 orders: −$68.06
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$42.68
Costs to cover: 0.851%
Break-even: 15.3 days

Slippage from Kraken Futures: live order book, 2 min ago; Phoenix: live order book, 41 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 Kraken Futures live order book, 2 min ago	0.99 bp	6.0 bp −$6	11.9 bp −$119	22.1 bp −$2,208	44.2 bp −$22.1K
Sell Phoenix live order book, 41 min ago	6.58 bp	35.9 bp −$36	83.7 bp −$837	doesn't fit	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_XRPUSDlong	−0.0171%	1h	1.5211	long leg	$14.7M	$75.3M	50x
Hotstuff XRP-PERP	−0.0080%	1h	1.5218	+0.048%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5216	+0.036%	$1.1M	$148K	10x	as long as short
Phoenix XRPshort	0.0000%	1h	1.5220	+0.061%	$68K	$110K	15x
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5213	+0.015%	$7.7M	$23.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5211	+0.003%	$247K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.296%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5204	−0.046%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5210	−0.002%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5213	+0.015%	$620K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5216	+0.035%	$20K	$380K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5215	+0.032%	$995K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5209	−0.014%	$38.5M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5221	+0.069%	$613K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5203	−0.051%	$529.9M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5201	−0.064%	$354.7M	$943.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5200	−0.070%	$126.8M	$853.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5173	−0.248%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5225	+0.094%	$144K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.064%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5204	−0.044%	$374.8M	$153.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5203	−0.051%	$312.7M	$914.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5205	−0.040%	$106.1M	$183.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5204	−0.044%	$269.3M	$382.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5207	−0.024%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5191	−0.130%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5194	−0.110%	$662K	$112.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5186	−0.160%	$1.1M	$33.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5199	−0.077%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5220	+0.059%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5219	+0.055%	$52K	$511K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5216	+0.037%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5213	+0.015%	$78K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5214	+0.022%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5223	+0.082%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5209	−0.011%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5211	+0.002%	$49.7M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5211	+0.002%	$54.3M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5224	+0.087%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5202	−0.054%	$2.1M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5211	+0.002%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0118% / S −0.0083%	1h	1.5212	+0.011%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5221	+0.068%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5210	−0.005%	$5.5M	$47.8M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5224	+0.087%	$1.7M	$33.3M	2.9x	as long as short
Hyperliquid XRP	+0.0188%	1h	1.5223	+0.081%	$290.9M	$267.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	−0.011%	$23.7M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5213	+0.017%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0233%	1h	1.5220	+0.061%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5224	+0.089%	$522K	$798K	10x	as long as short
Aftermath Perps XRPUSD	+0.0549%	1h	1.5214	+0.019%	$3K	$16K	10x	as long as short