Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: BingX against Phemex+0.020%7-day average −0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$360.359% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now +0.020%, 7d avg −0.020%

Together, before fees+0.171%+$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.040% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5132	0.0100	pay 0.0100% / 8h	4h 14m	$53.9M	$30.9M	50x
Short	BingX XRP-USDC	1.5135	0.0100	get 0.0100% / 8h	4h 14m	—	$4.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $0
Price spread: +0.020% → −0.020%: $4.03
Slippage, 4 orders: −$13.92
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$31.89
Costs to cover: 0.359%
Break-even: never at this rate

Slippage from Phemex: live order book, 5 min ago; BingX: live order book, 6 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 Phemex live order book, 5 min ago	0.66 bp	7.9 bp −$8	11.5 bp −$115	20.1 bp −$2,005	doesn't fit
Sell BingX live order book, 6 min ago	0.66 bp	7.2 bp −$7	12.4 bp −$124	27.7 bp −$2,770	76.3 bp −$38.2K

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	+0.066%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5132	+0.003%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5134	+0.014%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.119%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5136	+0.026%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5128	−0.026%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.828%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0045% / S +0.0023%	1h	1.5125	−0.049%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0089%	8h	1.5133	+0.007%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5133	+0.004%	$2.8M	$14.6M	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	1.5135	+0.020%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5131	−0.007%	$11K	$329K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5134	+0.017%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5144	+0.079%	$280.2M	$227.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5130	−0.013%	$38.3M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5136	+0.026%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5131	−0.005%	$533.7M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5131	−0.007%	$346.5M	$934.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5132	0.000%	$126.1M	$873.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5132	0.000%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5134	+0.013%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5130	−0.010%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5130	−0.013%	$368.8M	$154.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5131	−0.007%	$291.6M	$902.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5136	+0.024%	$107.9M	$174.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5131	−0.007%	$267.7M	$384.8M	125x	as long as short
BingX XRP-USDCshort	+0.0100%	8h	1.5135	+0.020%	—	$4.2M	—
Variational Omni XRP	+0.0100%	8h	1.5137	+0.032%	$5.2M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5145	+0.089%	$659K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5149	+0.113%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5156	+0.159%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5134	+0.016%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5132	0.000%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5130	−0.013%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5134	+0.011%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5137	+0.035%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5132	0.000%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5128	−0.028%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5132	long leg	$53.9M	$30.9M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5133	+0.008%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5129	−0.018%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5134	+0.013%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5132	0.000%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0182%	1h	1.5141	+0.059%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5141	+0.059%	$5.5M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5146	+0.093%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5129	−0.019%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5143	+0.073%	$24.2M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5139	+0.046%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5136	+0.027%	$515K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0673%	1h	1.5151	+0.124%	$2K	$15K	10x	as long as short