Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.033%

Price spread now: Phemex against Reya+0.066%7-day average +0.018% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.118%−$12 on $10k

Price spread, last 4 days (all we have)−0.203%−$20 · spread now +0.066%, 7d avg +0.018%

Together, before fees−0.321%+ Points / potential airdropReya: Active · farm board−$32 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.048% dearer against Reya than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of +0.018%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya XRPRUSDPERP	1.5279	0.0223	pay 0.0028% / 1h	45m 01s	$1.4M	$1K	15x
Short	Phemex XRPUSDT	1.5289	0.0100	get 0.0100% / 8h	5h 45m	$54.5M	$33.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Reya. 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 ReyabpFee PhemexbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$25.82
Price spread: +0.066% → +0.018%: $4.82
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$39
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	2.94 bp	9.1 bp −$9	12.2 bp −$122	17.7 bp −$1,770	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XRP on 50 exchanges

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	1.5356	+0.504%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0063%	1h	1.5288	+0.056%	$13.9M	$70.3M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5286	+0.044%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5340	+0.400%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5287	+0.053%	$7.8M	$21.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5286	+0.047%	$242K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5291	+0.079%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.840%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0068%	1h	1.5283	+0.027%	$29K	$1.5M	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5284	+0.031%	$2.8M	$14.1M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5291	+0.079%	$598K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5286	+0.046%	$477K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5284	+0.033%	$10K	$399K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5284	+0.036%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5299	+0.131%	$297.8M	$267.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5290	+0.072%	$39.2M	$81.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5289	+0.063%	$590K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5283	+0.027%	$532.7M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5282	+0.020%	$360.5M	$887.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5280	+0.007%	$124.6M	$832.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5279	0.000%	$562K	$36K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5292	+0.085%	$164K	$682K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5314	+0.230%	$1.6M	$26K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5288	+0.059%	$380.0M	$156.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5286	+0.046%	$310.8M	$891.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5285	+0.042%	$105.0M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5282	+0.020%	$271.2M	$356.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5281	+0.013%	—	$4.2M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5298	+0.125%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	+0.194%	$5.0M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5313	+0.226%	$665K	$109.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5321	+0.273%	$1.1M	$30.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5317	+0.249%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5291	+0.078%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5284	+0.033%	$52K	$474K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5283	+0.026%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5283	+0.027%	$83K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5287	+0.055%	$128K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5284	+0.034%	$49.8M	$14.1M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5289	+0.066%	$54.5M	$33.3M	50x
Extended XRP-USD	+0.0104%	1h	1.5276	−0.016%	$2.2M	$6.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0104%	1h	1.5313	+0.221%	$17K	$76K	7x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5277	−0.009%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5291	+0.079%	$5.4M	$43.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0135%	8h	1.5291	+0.079%	$1.9M	$35.1M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0211% / S −0.0510%	1h	1.5283	+0.029%	$822K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5281	+0.013%	$23.9M	$78.0M	125x	as long as short
Reya XRPRUSDPERPlong	+0.0223%	1h	1.5279	long leg	$1.4M	$1K	15x
RISEx XRP/USDC	+0.0239%	1h	1.5291	+0.080%	$513K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0443%	1h	1.5332	+0.347%	$3K	$13K	10x	as long as short