Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0696%/8h= +76.2% APRpaid last 24h +0.141%

Price spread now: Aftermath Perps against Phemex+0.261%7-day average — · you sell dearer than you buy

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

Long on Phemex Short on Aftermath Perps

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—needs both histories

Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Aftermath Perps is 0.261% dearer against Phemex than usual: you sell high and buy low: +$26 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5308	0.0100	pay 0.0100% / 8h	7h 48m	$54.4M	$29.8M	50x
Short	Aftermath Perps XRPUSD	1.5348	0.0796	get 0.0099% / 1h	48m 59s	$2K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aftermath Perps against Phemex. 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 PhemexbpFee Aftermath PerpsbpOrdersPrice spread, now +0.261%Rate

Funding earned: $146.15
Price spread: +0.261% → 0.000%: $26.06
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Net: $151.21
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: Phemex: live order book, 5 min ago; Aftermath Perps: no order-book sample. 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 Phemex live order book, 5 min ago	0.65 bp	12.9 bp −$13	15.2 bp −$152	doesn't fit	doesn't fit
Sell Aftermath Perps no order-book sample	—	—	—	—	—

Aftermath Perps: 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 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	1.5307	−0.007%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5313	+0.031%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5303	−0.031%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0010% / S +0.0086%	1h	1.5304	−0.026%	$839K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.646%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5310	+0.013%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5313	+0.033%	$9.3M	$25.5M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5310	+0.013%	$2.8M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5310	+0.013%	$511K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5310	+0.013%	$11K	$276K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5309	+0.003%	$477K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5313	+0.029%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5310	+0.013%	$38.7M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5311	+0.021%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5308	+0.003%	$538.3M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5305	−0.020%	$340.2M	$929.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5305	−0.020%	$124.7M	$879.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	+0.078%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5312	+0.026%	$116K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	+0.189%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5307	−0.007%	$373.3M	$148.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5309	+0.007%	$295.4M	$894.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5306	−0.012%	$108.6M	$167.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5307	−0.007%	$268.4M	$376.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5304	−0.026%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5329	+0.138%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5392	+0.547%	$668K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5387	+0.516%	$1.1M	$39.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5333	+0.163%	$1.0M	$906K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5308	+0.002%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5310	+0.013%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5307	−0.005%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5312	+0.023%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5312	+0.024%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5311	+0.020%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5305	−0.020%	$50.2M	$15.6M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5308	long leg	$54.4M	$29.8M	50x
Extended XRP-USD	+0.0104%	1h	1.5308	+0.002%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5312	+0.026%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5310	+0.012%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5307	−0.004%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5308	0.000%	$23.9M	$74.4M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5311	+0.020%	$5.8M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0240%	1h	1.5316	+0.052%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5310	+0.011%	$14.5M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5315	+0.048%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5317	+0.059%	$2.0M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0427%	1h	1.5321	+0.085%	$290.3M	$216.0M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5400	+0.601%	$69K	$110K	15x	as long as short
Aftermath Perps XRPUSDshort	+0.0796%	1h	1.5348	+0.261%	$2K	$12K	10x
RISEx XRP/USDC	+0.0828%	1h	1.5313	+0.031%	$506K	$755K	10x	as long as short