Funding you earn now, next payment 06:00 UTC+0.0014%/8h= +1.5% APRnext payment +$0.02 per $10,000 · paid last 24h −0.026%
Price spread now: Deribit against Phoenix+0.046%70s7-day average +0.025% · you sell dearer than you buy
Net, funding: paid 7d − costs−$57as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$830.832% of the position
Funding, last 7 days+0.263%+$26 on $10k
+Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.046%, 7d avg +0.025%
=Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Deribit is 0.021% dearer against Phoenix than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.025%. The two prices were read 70 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 | 1.5170 | 0 | get 0.0000% / 1h | 28m 06s | $67K | $110K | 15x |
| Short | Deribit XRP_USDC-PERPETUAL | 1.5177 | 0.0014 | get 0.0002% / 1h | 28m 06s | $7.7M | $24.8M | 50x |
Phoenix XRP
Deribit XRP_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $2.94
- Price spread: +0.046% → +0.025%
- $2.14
- Slippage, 4 orders
- −$69.22
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$78.14
- Costs to cover
- 0.832%
- Break-even
- 193.0 days
Slippage from Phoenix: live order book, 60 min ago; Deribit: live order book, 1 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, 60 min ago | 6.67 bp | 36.3 bp −$36 | 96.3 bp −$963 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 1 min ago | 0.33 bp | 5.0 bp −$5 | 7.2 bp −$72 | 44.5 bp −$4,450 | 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 | 1.5166 | −0.026% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5159 | −0.071% | $1.1M | $148K | 10x | as long as short |
| Phoenix XRPlong | 0.0000% | 1h | 1.5170 | long leg | $67K | $110K | 15x | |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5172 | +0.011% | $246K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUALshort | +0.0014% | 1h | 1.5177 | +0.046% | $7.7M | $24.8M | 50x | |
| Kraken Futures PF_XRPUSD | +0.0025% | 1h | 1.5174 | +0.028% | $14.4M | $74.9M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.571% | $2K | $107K | 30x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0085% / S −0.0034% | 1h | 1.5174 | +0.026% | $800K | — | 200x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5177 | +0.045% | $2.8M | $15.1M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5177 | +0.046% | $545K | $3.2M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
Kraken Futures PF_XRPUSD
Injective XRP/USDC PERP
GMX XRP/USD [ETH-USDC]
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Katana Perps XRP-USD | +0.0099% | 8h | 1.5161 | −0.059% | $10K | $372K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5162 | −0.049% | $978K | $6.4M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5189 | +0.126% | $38.6M | $87.7M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5167 | −0.020% | $617K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5191 | +0.137% | $532.5M | $2.22B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5186 | +0.105% | $346.4M | $961.5M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5187 | +0.112% | $127.5M | $884.0M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5147 | −0.152% | $564K | $32K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5170 | 0.000% | $143K | $714K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5178 | +0.053% | $376.7M | $160.3M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5177 | +0.046% | $303.1M | $924.4M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5175 | +0.034% | $107.7M | $181.9M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5187 | +0.112% | $267.9M | $396.7M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5185 | +0.099% | — | $105.5M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5158 | −0.080% | $4.7M | $38.5M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5157 | −0.087% | $658K | $113.9M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5162 | −0.053% | $1.1M | $36.4M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5164 | −0.040% | $1.2M | $1.2M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5170 | −0.002% | — | $15K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5168 | −0.013% | $47K | $489K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5174 | +0.025% | $41K | $71K | 20x | as long as short |
| Orderly PERP_XRP_USDC | +0.0100% | 8h | 1.5173 | +0.020% | $65K | $774K | 50x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5148 | −0.142% | $815K | $72K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5169 | −0.005% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5175 | +0.033% | $29K | $1.6M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5176 | +0.037% | $49.6M | $15.6M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5172 | +0.013% | $54.3M | $32.4M | 50x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5157 | −0.086% | $1.6M | $5K | 20x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5171 | +0.006% | $473K | $54K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5168 | −0.014% | $2.1M | $6.9M | 50x | as long as short |
| 01 Exchange XRPUSD | +0.0104% | 1h | 1.5169 | −0.007% | $8K | $2K | 10x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5172 | +0.014% | $58K | $25K | 3x | as long as short |
| Hibachi XRP/USDT-P | +0.0144% | 1h | 1.5161 | −0.061% | $17K | $79K | 7x | as long as short |
| Backpack XRP_USDC_PERP | +0.0175% | 1h | 1.5189 | +0.125% | $2.0M | $1.4M | 25x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0176% | 1h | 1.5178 | +0.053% | $5.7M | $48.2M | 50x | as long as short |
| Hyperliquid XRP | +0.0190% | 1h | 1.5189 | +0.125% | $288.8M | $264.8M | 20x | as long as short |
| Kalshi KXXRPPERP | +0.0212% | 8h | 1.5175 | +0.033% | $1.8M | $35.2M | 2.9x | as long as short |
| Reya XRPRUSDPERP | +0.0219% | 1h | 1.5156 | −0.090% | $1.3M | $5K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5164 | −0.040% | $23.6M | $77.8M | 125x | as long as short |
| RISEx XRP/USDC | +0.0316% | 1h | 1.5169 | −0.005% | $529K | $800K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0604% | 1h | 1.5167 | −0.023% | $2K | $16K | 10x | as long as short |
Katana Perps XRP-USD
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Orderly PERP_XRP_USDC
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Bulk XRP-USD
Paradex XRP-USD-PERP
Extended XRP-USD
01 Exchange XRPUSD
Aevo XRP-PERP
Hibachi XRP/USDT-P
Backpack XRP_USDC_PERP
Coinbase International XRP-PERP-INTX
Hyperliquid XRP
Kalshi KXXRPPERP
Reya XRPRUSDPERP
BloFin XRP-USDT
RISEx XRP/USDC
Aftermath Perps XRPUSD