XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h −0.003%

Price spread now: Arcus against Phoenix−0.040%109s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$820.818% of the position

Long on Phoenix Short on Arcus

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.081%+$8 on $10k

Price spread, last 4 days (all we have)−0.323%−$32 · spread now −0.040%, 7d avg −0.012%

Together, before fees−0.242%−$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Arcus is 0.027% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.040% now, against its 7-day average of −0.012%). If the spread goes back, that is −$3 on $10k: about 22 hours of funding at the current rate (+$3 a day). The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XRP	1.5120	0	get 0.0000% / 1h	49m 45s	$67K	$110K	15x
Short	Arcus XRP-USD	1.5114	0.0100	get 0.0013% / 1h	49m 45s	$137K	$716K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Arcus against Phoenix. 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 PhoenixbpFee ArcusbpOrdersPrice spread, now −0.040%Rate

Funding earned: $21
Price spread: −0.040% → −0.012%: −$2.72
Slippage, 4 orders: −$70.28
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Net: −$63.5
Costs to cover: 0.818%
Break-even: 28.2 days

Slippage from Phoenix: live order book, 43 min ago; Arcus: live order book, 64 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 Phoenix live order book, 43 min ago	6.56 bp	35.7 bp −$36	94.5 bp −$945	doesn't fit	doesn't fit
Sell Arcus live order book, 64 min ago	0.33 bp	4.1 bp −$4	11.4 bp −$114	34.7 bp −$3,467	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	1.5130	+0.066%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5106	−0.094%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5114	−0.040%	$1.1M	$115K	10x	as long as short
Phoenix XRPlong	0.0000%	1h	1.5120	long leg	$67K	$110K	15x
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5114	−0.040%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5119	−0.004%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.910%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5138	+0.119%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5121	+0.009%	$794K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5112	−0.052%	$2.8M	$14.8M	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	1.5115	−0.033%	$497K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5129	+0.060%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5130	+0.063%	$939K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5120	0.000%	$290.7M	$258.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5109	−0.072%	$38.7M	$86.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5113	−0.046%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5109	−0.070%	$531.5M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5109	−0.073%	$342.2M	$950.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5111	−0.060%	$125.1M	$888.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5107	−0.086%	$563K	$27K	5x	as long as short
Arcus XRP-USDshort	+0.0100%	1h	1.5114	−0.040%	$137K	$716K	20x
Bulk XRP-USD	+0.0100%	1h	1.5114	−0.040%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5108	−0.079%	$372.2M	$155.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5109	−0.073%	$295.9M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5110	−0.069%	$107.7M	$179.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5108	−0.079%	$268.3M	$392.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5105	−0.099%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5128	+0.052%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5106	−0.094%	$656K	$111.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5121	+0.005%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5110	−0.066%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5138	+0.119%	$50K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5121	+0.004%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5116	−0.026%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5114	−0.039%	$813K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5141	+0.142%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5107	−0.086%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5115	−0.036%	$49.4M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5107	−0.086%	$53.8M	$31.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5112	−0.053%	$471K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5130	+0.069%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5105	−0.096%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5110	−0.066%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0152%	8h	1.5136	+0.106%	$1.8M	$35.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5115	−0.033%	$5.7M	$48.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0202%	1h	1.5115	−0.033%	$2.0M	$1.4M	25x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5128	+0.050%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5130	+0.066%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5125	+0.033%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5141	+0.141%	$516K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0624%	1h	1.5126	+0.038%	$2K	$15K	10x	as long as short