Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.003%
Price spread now: Phoenix against MEXC−0.178%107s7-day average +0.014% · you buy dearer than you sell
Net, funding: paid 7d − costs−$84as 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−$730.733% of the position
Funding, last 7 days−0.111%−$11 on $10k
+Price spread, last 4 days (all we have)+0.381%+$38 · spread now −0.178%, 7d avg +0.014%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.192% cheaper against MEXC than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.014%). Swap the legs. The two prices were read 107 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 | MEXC XRP_USDT | 1.5157 | 0.0100 | pay 0.0100% / 8h | 1h 41m | $299.1M | $921.3M | 300x |
| Short | Phoenix XRP | 1.5130 | 0 | get 0.0000% / 1h | 41m 42s | $67K | $110K | 15x |
MEXC XRP_USDT
Phoenix XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against MEXC. 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
- −$21
- Price spread: −0.178% → +0.014%
- −$19.22
- Slippage, 4 orders
- −$66.29
- Fee MEXC: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$113.52
- Costs to cover
- 0.733%
- Break-even
- never at this rate
Slippage from MEXC: live order book, 2 min ago; Phoenix: live order book, 46 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 MEXC live order book, 2 min ago | 0.33 bp | 0.3 bp $0 | 0.3 bp −$3 | 4.3 bp −$427 | 29.3 bp −$14.7K |
| Sell Phoenix live order book, 46 min ago | 6.67 bp | 36.3 bp −$36 | 84.8 bp −$848 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff XRP-PERP | −0.0080% | 1h | 1.5142 | −0.099% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5151 | −0.037% | $1.1M | $148K | 10x | as long as short |
| Phoenix XRPshort | 0.0000% | 1h | 1.5130 | −0.178% | $67K | $110K | 15x | |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5143 | −0.092% | $245K | — | 150x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0025% | 1h | 1.5145 | −0.081% | $14.5M | $75.4M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.659% | $2K | $107K | 30x | as long as short |
| 01 Exchange XRPUSD | +0.0080% | 1h | 1.5159 | +0.013% | $8K | $8K | 10x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0080% | 1h | 1.5148 | −0.059% | $7.7M | $25.0M | 50x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0081% / S −0.0029% | 1h | 1.5143 | −0.095% | $799K | — | 200x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5157 | +0.003% | $2.8M | $15.1M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
Kraken Futures PF_XRPUSD
Injective XRP/USDC PERP
01 Exchange XRPUSD
Deribit XRP_USDC-PERPETUAL
GMX XRP/USD [ETH-USDC]
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5159 | +0.013% | $545K | $3.2M | 20x | as long as short |
| Katana Perps XRP-USD | +0.0099% | 8h | 1.5148 | −0.059% | $13K | $368K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5138 | −0.122% | $985K | $6.4M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5156 | −0.007% | $38.5M | $87.5M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5158 | +0.005% | $606K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5158 | +0.004% | $530.3M | $2.23B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5154 | −0.020% | $345.6M | $969.0M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5155 | −0.013% | $127.3M | $891.5M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5161 | +0.026% | $564K | $32K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5161 | +0.026% | $143K | $722K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5145 | −0.079% | $1.6M | $5K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5154 | −0.020% | $372.9M | $159.4M | 100x | as long as short |
| MEXC XRP_USDTlong | +0.0100% | 8h | 1.5157 | long leg | $299.1M | $921.3M | 300x | |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5155 | −0.015% | $107.3M | $182.1M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5154 | −0.020% | $267.4M | $400.1M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5156 | −0.007% | — | $106.4M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5118 | −0.258% | $4.7M | $38.5M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5135 | −0.145% | $657K | $114.7M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5133 | −0.158% | $1.1M | $36.3M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5147 | −0.066% | $1.2M | $1.2M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5148 | −0.058% | — | $15K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5144 | −0.086% | $47K | $491K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5144 | −0.086% | $41K | $70K | 20x | as long as short |
| Orderly PERP_XRP_USDC | +0.0100% | 8h | 1.5141 | −0.106% | $65K | $810K | 50x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5142 | −0.098% | $815K | $73K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5145 | −0.079% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5140 | −0.112% | $29K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5145 | −0.080% | $49.5M | $15.7M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5141 | −0.106% | $54.1M | $32.2M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5164 | +0.047% | $473K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5152 | −0.034% | $2.1M | $6.9M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5141 | −0.106% | $58K | $25K | 3x | as long as short |
| Backpack XRP_USDC_PERP | +0.0153% | 1h | 1.5150 | −0.046% | $2.0M | $1.4M | 25x | as long as short |
| Hibachi XRP/USDT-P | +0.0160% | 1h | 1.5161 | +0.026% | $17K | $79K | 7x | as long as short |
| Hyperliquid XRP | +0.0163% | 1h | 1.5166 | +0.059% | $288.9M | $265.0M | 20x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0176% | 1h | 1.5148 | −0.059% | $5.7M | $48.3M | 50x | as long as short |
| Kalshi KXXRPPERP | +0.0215% | 8h | 1.5148 | −0.059% | $1.7M | $35.3M | 2.9x | as long as short |
| Reya XRPRUSDPERP | +0.0219% | 1h | 1.5139 | −0.119% | $1.3M | $5K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5144 | −0.086% | $23.5M | $77.8M | 125x | as long as short |
| RISEx XRP/USDC | +0.0316% | 1h | 1.5158 | +0.006% | $523K | $795K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0563% | 1h | 1.5154 | −0.021% | $2K | $16K | 10x | as long as short |
Lighter RH XRP
Katana Perps XRP-USD
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
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Orderly PERP_XRP_USDC
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
Backpack XRP_USDC_PERP
Hibachi XRP/USDT-P
Hyperliquid XRP
Coinbase International XRP-PERP-INTX
Kalshi KXXRPPERP
Reya XRPRUSDPERP
BloFin XRP-USDT
RISEx XRP/USDC
Aftermath Perps XRPUSD