Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.014%

Price spread now: Phemex against 01 Exchange−0.135%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Phemex is 0.135% cheaper against 01 Exchange than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XRPUSD	1.5595	0.0176	pay 0.0022% / 1h	23m 35s	$8K	$8K	10x
Short	Phemex XRPUSDT	1.5574	0.0100	get 0.0100% / 8h	1h 23m	$55.4M	$29.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now −0.135%Rate

Funding earned: −$15.96
Price spread: −0.135% → 0.000%: −$13.47
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$48.43
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 6 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 6 min ago	2.57 bp	12.2 bp −$12	17.8 bp −$178	28.7 bp −$2,865	doesn't fit

01 Exchange: 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 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	1.5536	−0.378%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5577	−0.116%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5583	−0.077%	$261K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5587	−0.051%	$9.6M	$25.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.956%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5583	−0.079%	$15.5M	$68.8M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0053% / S +0.0121%	1h	1.5583	−0.074%	$1.1M	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5581	−0.090%	$79K	$946K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5580	−0.095%	$3.0M	$12.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5570	−0.160%	$441K	$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
Nado XRP-PERP	+0.0100%	1h	1.5570	−0.164%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5567	−0.180%	$39.5M	$78.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5575	−0.129%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5573	−0.144%	$560.1M	$1.97B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5587	−0.051%	$348.6M	$895.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5587	−0.051%	$127.7M	$882.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5556	−0.250%	$578K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5591	−0.026%	$119K	$740K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5586	−0.058%	$374.7M	$140.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5584	−0.071%	$298.1M	$853.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5580	−0.094%	$113.9M	$159.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5591	−0.026%	$272.1M	$363.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5591	−0.026%	—	$117.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5537	−0.375%	$11.7M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5495	−0.639%	$675K	$101.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5534	−0.393%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5504	−0.584%	$1.0M	$882K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5579	−0.103%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5585	−0.063%	$42K	$65K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5585	−0.066%	$839K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5582	−0.086%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5584	−0.071%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5577	−0.114%	$51.2M	$15.4M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5574	−0.135%	$55.4M	$29.2M	50x
Bulk XRP-USD	+0.0100%	1h	1.5477	−0.759%	$1.7M	$578K	20x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5566	−0.185%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5565	−0.192%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5586	−0.058%	$12K	$259K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5584	−0.068%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5580	−0.097%	$73K	$40K	3x	as long as short
01 Exchange XRPUSDlong	+0.0176%	1h	1.5595	long leg	$8K	$8K	10x
Hibachi XRP/USDT-P	+0.0192%	1h	1.5552	−0.274%	$18K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5575	−0.130%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5587	−0.051%	$5.8M	$47.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5554	−0.263%	$24.6M	$73.7M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0287%	1h	1.5580	−0.096%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5586	−0.058%	$1.9M	$32.8M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5480	−0.737%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5601	+0.038%	$511K	$630K	10x	as long as short
Hyperliquid XRP	+0.0600%	1h	1.5581	−0.090%	$291.7M	$202.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0733%	1h	1.5548	−0.300%	$1K	$11K	10x	as long as short