XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0001%/8h= −0.1% APRnext payment −$0.00 per $10,000 · paid last 24h +0.017%

Price spread now: Kraken Futures against Phoenix+0.097%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$890.893% of the position

Long on Phoenix Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.226%+$23 on $10k

Price spread, last 4 days (all we have)−0.122%−$12 · spread now +0.097%, 7d avg +0.007%

Together, before fees+0.103%+$10 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: Kraken Futures is 0.089% dearer against Phoenix than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XRP	1.4980	0	get 0.0000% / 1h	25m 17s	$67K	$110K	15x
Short	Kraken Futures PF_XRPUSD	1.4994	−0.0001	pay 0.0000% / 1h	25m 17s	$14.1M	$75.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$0.23
Price spread: +0.097% → +0.007%: $8.9
Slippage, 4 orders: −$72.33
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$80.65
Costs to cover: 0.893%
Break-even: never at this rate

Slippage from Phoenix: live order book, 3 min ago; Kraken Futures: live order book, 4 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, 3 min ago	6.67 bp	36.3 bp −$36	96.3 bp −$963	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	0.67 bp	8.8 bp −$9	12.5 bp −$125	23.6 bp −$2,355	54.0 bp −$27.0K

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	1.4943	−0.247%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDshort	−0.0001%	1h	1.4994	+0.097%	$14.1M	$75.1M	50x
dYdX XRP-USD	0.0000%	1h	1.4984	+0.023%	$1.1M	$130K	10x	as long as short
Phoenix XRPlong	0.0000%	1h	1.4980	long leg	$67K	$110K	15x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.4994	+0.093%	$243K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.872%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.4993	+0.088%	$788K	—	200x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.4996	+0.107%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0084%	1h	1.4997	+0.113%	$7.6M	$25.7M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.4996	+0.107%	$2.8M	$15.0M	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	1.4998	+0.120%	$543K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.4986	+0.040%	$10K	$363K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.4989	+0.057%	$952K	$6.3M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5003	+0.154%	$285.5M	$261.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.4994	+0.091%	$38.2M	$87.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.4988	+0.056%	$599K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.4992	+0.079%	$524.7M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.4979	−0.007%	$340.6M	$971.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.4981	+0.007%	$124.2M	$876.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.4932	−0.320%	$556K	$31K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5003	+0.154%	$143K	$729K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5027	+0.313%	$1.6M	$4K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.4997	+0.113%	$365.7M	$159.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.4981	+0.007%	$277.6M	$919.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.4991	+0.073%	$104.6M	$181.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.4992	+0.080%	$263.1M	$397.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.4996	+0.107%	—	$106.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.4960	−0.133%	$4.7M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.4951	−0.192%	$649K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5001	+0.138%	$1.1M	$37.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.4945	−0.234%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5000	+0.134%	$51K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.4996	+0.107%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.4995	+0.100%	$61K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.4993	+0.090%	$807K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5002	+0.144%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.4996	+0.107%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.4990	+0.065%	$49.0M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.4989	+0.060%	$53.5M	$32.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.4997	+0.115%	$468K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.4991	+0.072%	—	$15K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.4989	+0.063%	$1.9M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.4995	+0.098%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0148%	8h	1.4991	+0.073%	$1.6M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0155%	1h	1.4971	−0.060%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5000	+0.134%	$5.5M	$48.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.4939	−0.276%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.4993	+0.089%	$1.3M	$6K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.4995	+0.100%	$23.3M	$76.3M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5001	+0.140%	$512K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0619%	1h	1.5001	+0.141%	$2K	$16K	10x	as long as short