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: SunX against Phemex−0.110%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 4 days (all we have)+0.129%+$13 · spread now −0.110%, 7d avg +0.020%

Together, before fees+0.205%+$21 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: SunX is 0.129% cheaper against Phemex than usual: you would sell low and buy high, −$13 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	1.5195	0.0100	pay 0.0100% / 8h	9m 44s	$54.2M	$32.7M	50x
Short	SunX XRP-USDT	1.5178	0.0100	get 0.0100% / 8h	9m 44s	$127K	$1.8M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.110%Rate

Funding earned: $0
Price spread: −0.110% → +0.020%: −$12.95
Slippage, 4 orders: −$49.91
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$82.86
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SunX: 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, 4 min ago	2.64 bp	9.7 bp −$10	15.5 bp −$155	23.9 bp −$2,388	doesn't fit
Sell SunX live order book, 6 min ago	17.62 bp	27.5 bp −$28	35.7 bp −$357	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	1.5187	−0.053%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5185	−0.065%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5191	−0.028%	$247K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.402%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5193	−0.012%	$14.6M	$73.6M	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5198	+0.020%	$7.7M	$24.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5185	−0.069%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5188	−0.046%	$605K	$3.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5177	−0.118%	$17K	$78K	7x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5179	−0.105%	$20K	$382K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5187	−0.049%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5185	−0.068%	$38.5M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5188	−0.049%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5187	−0.053%	$529.8M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5185	−0.066%	$350.1M	$949.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5186	−0.059%	$127.2M	$863.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.151%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5191	−0.026%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	−0.111%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5185	−0.066%	$378.1M	$162.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5188	−0.046%	$311.1M	$929.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5186	−0.058%	$106.8M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5185	−0.066%	$268.9M	$388.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5186	−0.059%	—	$107.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.213%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5151	−0.289%	$658K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5180	−0.100%	$1.1M	$34.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5182	−0.086%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5192	−0.018%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5199	+0.026%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5192	−0.018%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5195	0.000%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5192	−0.020%	$817K	$76K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5178	−0.110%	$127K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5193	−0.013%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5191	−0.024%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5195	long leg	$54.2M	$32.7M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5193	−0.011%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5183	−0.082%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5190	−0.033%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5192	−0.020%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0108% / S −0.0072%	1h	1.5191	−0.029%	$774K	—	200x	as long as short
Hyperliquid XRP	+0.0142%	1h	1.5190	−0.033%	$290.0M	$268.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0166%	8h	1.5180	−0.099%	$1.8M	$33.8M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5201	+0.039%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5201	+0.039%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5172	−0.151%	$23.6M	$77.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5196	+0.005%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5190	−0.033%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	−0.099%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0584%	1h	1.5172	−0.149%	$2K	$16K	10x	as long as short