Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.033%

Price spread now: Reya against Phemex−0.029%7-day average −0.018% · you buy dearer than you sell

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

Long on Phemex Short on Reya

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.118%+$12 on $10k

Price spread, last 4 days (all we have)+0.165%+$17 · spread now −0.029%, 7d avg −0.018%

Together, before fees+0.284%+ Points / potential airdropReya: Active · farm board+$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5307	0.0100	pay 0.0100% / 8h	4h 58m	$54.7M	$33.2M	50x
Short	Reya XRPRUSDPERP	1.5303	0.0224	get 0.0028% / 1h	58m 10s	$1.4M	$1K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.029%Rate

Funding earned: $25.99
Price spread: −0.029% → −0.018%: −$1.11
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $6.88
Costs to cover: 0.180%
Break-even: 5.1 days

Slippage unknown: Phemex: live order book, 4 min ago; Reya: 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, 4 min ago	1.63 bp	13.3 bp −$13	15.8 bp −$158	32.3 bp −$3,225	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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 exchanges

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	1.5387	+0.523%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0077%	1h	1.5310	+0.017%	$13.8M	$69.0M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5316	+0.061%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5330	+0.150%	$69K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5310	+0.020%	$7.7M	$19.9M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5307	−0.003%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.653%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5322	+0.100%	$17K	$70K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5310	+0.018%	$2.7M	$13.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5312	+0.033%	$598K	$3.0M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange XRPUSD	+0.0096%	1h	1.5318	+0.072%	$9K	$987	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5314	+0.046%	$5.4M	$42.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5319	+0.080%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5312	+0.033%	$10K	$409K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5314	+0.049%	$840K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5317	+0.065%	$297.6M	$264.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5307	0.000%	$38.9M	$79.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5319	+0.078%	$589K	$985K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5304	−0.020%	$532.6M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5305	−0.013%	$361.3M	$857.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5305	−0.013%	$123.9M	$821.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5336	+0.189%	$563K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5321	+0.091%	$163K	$692K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5308	+0.007%	$377.4M	$156.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5305	−0.013%	$317.3M	$871.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5305	−0.010%	$104.9M	$180.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5306	−0.007%	$270.8M	$348.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5304	−0.020%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5332	+0.166%	$4.9M	$38.0M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5332	+0.167%	$666K	$107.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5339	+0.209%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5341	+0.222%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5316	+0.058%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5313	+0.039%	$52K	$469K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5306	−0.005%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5307	0.000%	$83K	$601K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5308	+0.006%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5320	+0.082%	$128K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5306	−0.007%	$30K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5305	−0.013%	$49.9M	$13.1M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5307	long leg	$54.7M	$33.2M	50x
Bulk XRP-USD	+0.0100%	1h	1.5324	+0.114%	$1.6M	$66K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5300	−0.045%	$2.2M	$6.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5303	−0.025%	$59K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0113%	8h	1.5334	+0.176%	$1.9M	$35.4M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0191%	1h	1.5316	+0.059%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5320	+0.085%	$23.8M	$77.6M	125x	as long as short
Reya XRPRUSDPERPshort	+0.0224%	1h	1.5303	−0.029%	$1.4M	$1K	15x
GMX XRP/USD [ETH-USDC]	L +0.0252% / S −0.0494%	1h	1.5307	+0.003%	$885K	—	200x	as long as short
RISEx XRP/USDC	+0.0300%	1h	1.5321	+0.094%	$507K	$723K	10x	as long as short
Aftermath Perps XRPUSD	+0.0387%	1h	1.5320	+0.088%	$3K	$13K	10x	as long as short