XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0516%/8h= −56.5% APRnext payment −$0.65 per $10,000 · paid last 24h −0.012%

Price spread now: gTrade (Gains Network) against Phoenix+0.099%7-day average +0.011% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$332as in the Price arb table

costs, in and out, $10k−$3413.410% of the position

Long on Phoenix Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.010%−$1 on $10k

Price spread, last 3 days (all we have)−0.033%−$3 · spread now +0.099%, 7d avg +0.011%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.088% dearer against Phoenix than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of +0.011%): +$9 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 14 hours. At the pace of the last 3 days (−0.010% in total) that is about 27 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.010% in total (about -1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.65 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XRP	1.5350	0.0520	pay 0.0065% / 1h	25m 13s	$68K	$110K	15x
Short	gTrade (Gains Network) XRP/USD	1.5365	L +0.0003% / S −0.0004%	get 0.0001% / 1h	25m 13s	$257K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.099%Rate

Funding earned: −$108.43
Price spread: +0.099% → +0.011%: $8.79
Slippage, 4 orders: −$323.98
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$440.63
Costs to cover: 3.410%
Break-even: never at this rate

Slippage from Phoenix: live order book, 28 min ago; gTrade (Gains Network): virtual book (oracle venue), 49 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, 28 min ago	6.49 bp	35.4 bp −$35	94.1 bp −$941	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 49 min ago	130.04 bp	135.0 bp −$135	193.2 bp −$1,932	1958.2 bp −$195.8K	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	1.5359	+0.059%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5366	+0.105%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5365	+0.099%	$257K	—	150x
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0078%	1h	1.5365	+0.098%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.368%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5374	+0.156%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5377	+0.176%	$9.3M	$25.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5356	+0.039%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5372	+0.141%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5373	+0.150%	$516K	$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	1.5353	+0.020%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5361	+0.074%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5361	+0.075%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5366	+0.105%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5365	+0.098%	$622K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5371	+0.136%	$542.2M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5367	+0.111%	$342.8M	$919.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5365	+0.098%	$125.0M	$869.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.221%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5359	+0.059%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.102%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5366	+0.104%	$375.4M	$149.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5368	+0.117%	$314.6M	$905.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5373	+0.152%	$109.2M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5365	+0.098%	$268.8M	$375.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5366	+0.104%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	+0.013%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5338	−0.076%	$666K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.103%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	0.000%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5359	+0.057%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5368	+0.117%	$50K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5369	+0.123%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5373	+0.153%	$828K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	+0.123%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5371	+0.137%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5374	+0.158%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5372	+0.143%	$54.7M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5371	+0.137%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5373	+0.148%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	+0.067%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5369	+0.124%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5374	+0.156%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5370	+0.128%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0299%	1h	1.5375	+0.163%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5373	+0.150%	$2.0M	$34.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5352	+0.011%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0391%	1h	1.5379	+0.189%	$290.0M	$215.3M	20x	as long as short
Phoenix XRPlong	+0.0520%	1h	1.5350	long leg	$68K	$110K	15x
Aftermath Perps XRPUSD	+0.0804%	1h	1.5343	−0.045%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5361	+0.069%	$515K	$758K	10x	as long as short