Funding arb · Price arb /

XRP

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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: HTX against Phemex−0.003%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Phemex Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 3 days (all we have)−0.048%−$5 · spread now −0.003%, 7d avg −0.047%

Together, before fees+0.028%+$3 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: HTX is 0.044% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5179	0.0100	pay 0.0100% / 8h	6h 57m	$53.9M	$29.4M	50x
Short	HTX XRP-USDT	1.5179	0.0100	get 0.0100% / 8h	6h 57m	$49.8M	$15.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.003%Rate

Funding earned: $0
Price spread: −0.003% → −0.047%: $4.41
Slippage, 4 orders: −$20.57
Fee Phemex: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$40.16
Costs to cover: 0.446%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; HTX: live order book, 2 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, 2 min ago	2.30 bp	10.5 bp −$10	12.7 bp −$127	20.4 bp −$2,042	doesn't fit
Sell HTX live order book, 2 min ago	0.03 bp	9.4 bp −$9	13.0 bp −$130	37.9 bp −$3,785	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	1.5203	+0.158%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5196	+0.115%	$1.1M	$117K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5175	−0.026%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0069%	1h	1.5174	−0.030%	$833K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.510%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5176	−0.020%	$14.2M	$70.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0066%	8h	1.5182	+0.020%	$57K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5182	+0.020%	$9.1M	$24.6M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5178	−0.004%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5184	+0.033%	$507K	$3.2M	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	1.5189	+0.066%	$11K	$288K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5187	+0.056%	$911K	$5.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5179	+0.003%	$38.4M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5203	+0.156%	$617K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5178	−0.004%	$535.2M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5163	−0.105%	$338.5M	$925.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5163	−0.105%	$122.5M	$864.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5176	−0.020%	$567K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5204	+0.165%	$115K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.158%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5159	−0.132%	$366.5M	$147.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5163	−0.105%	$294.5M	$888.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5171	−0.052%	$109.0M	$168.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5160	−0.125%	$265.8M	$379.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5155	−0.158%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5216	+0.243%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5219	+0.265%	$661K	$106.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5208	+0.191%	$1.1M	$37.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5235	+0.369%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5191	+0.077%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5196	+0.112%	$44K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5181	+0.013%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5182	+0.020%	$817K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5184	+0.030%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5178	−0.007%	$29K	$1.8M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5179	−0.003%	$49.8M	$15.4M	75x
Phemex XRPUSDTlong	+0.0100%	8h	1.5179	long leg	$53.9M	$29.4M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5211	+0.211%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5178	−0.008%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5191	+0.079%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5179	0.000%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0125%	1h	1.5172	−0.046%	$282.4M	$220.6M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5181	+0.011%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5185	+0.040%	$5.7M	$46.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5162	−0.112%	$24.0M	$73.9M	125x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5221	+0.277%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0324%	8h	1.5200	+0.138%	$2.0M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5200	+0.139%	$537K	$777K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0485%	1h	1.5170	−0.059%	$1.9M	$1.3M	25x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	+0.402%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0834%	1h	1.5246	+0.444%	$2K	$13K	10x	as long as short