Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Phemex against Arcus−0.118%7-day average +0.001% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$310.311% of the position

Long on Arcus Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.059%+$6 · spread now −0.118%, 7d avg +0.001%

Together, before fees+0.056%+$6 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: Phemex is 0.119% cheaper against Arcus than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5208	0.0100	pay 0.0013% / 1h	22m 35s	$145K	$716K	20x
Short	Phemex XRPUSDT	1.5190	0.0100	get 0.0100% / 8h	1h 22m	$54.4M	$32.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Arcus. 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 ArcusbpFee PhemexbpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → +0.001%: −$11.93
Slippage, 4 orders: −$14.57
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$43
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from Arcus: live order book, 21 min ago; Phemex: live order book, 2 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 Arcus live order book, 21 min ago	0.99 bp	5.3 bp −$5	6.9 bp −$69	26.5 bp −$2,647	doesn't fit
Sell Phemex live order book, 2 min ago	3.62 bp	10.8 bp −$11	11.4 bp −$114	19.6 bp −$1,957	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	1.5219	+0.072%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5202	−0.038%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.013%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5194	−0.089%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5198	−0.066%	$7.7M	$24.8M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5194	−0.094%	$14.4M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.315%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0086% / S −0.0038%	1h	1.5195	−0.089%	$784K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5200	−0.051%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5197	−0.072%	$546K	$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	+0.0099%	8h	1.5197	−0.072%	$10K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5187	−0.137%	$987K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5198	−0.064%	$38.6M	$87.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5199	−0.059%	$618K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5199	−0.062%	$533.3M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5195	−0.085%	$346.5M	$963.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5199	−0.059%	$127.8M	$881.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5198	−0.066%	$566K	$33K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5208	long leg	$145K	$716K	20x
Gate XRP_USDT	+0.0100%	8h	1.5197	−0.072%	$377.2M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5198	−0.066%	$305.8M	$928.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5198	−0.068%	$107.7M	$182.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5194	−0.092%	$268.1M	$397.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5196	−0.079%	—	$105.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5222	+0.091%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5198	−0.065%	$660K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5212	+0.026%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5207	−0.007%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5201	−0.045%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5191	−0.112%	$47K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5197	−0.074%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5195	−0.085%	$65K	$747K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5148	−0.392%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5199	−0.058%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5196	−0.079%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5194	−0.092%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5190	−0.118%	$54.4M	$32.5M	50x
Bulk XRP-USD	+0.0100%	1h	1.5157	−0.335%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5206	−0.014%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5196	−0.080%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5193	−0.098%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5203	−0.033%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0152%	1h	1.5209	+0.008%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5199	−0.059%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0185%	1h	1.5197	−0.072%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0204%	1h	1.5212	+0.024%	$289.3M	$264.7M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5186	−0.143%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5194	−0.092%	$23.6M	$78.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0223%	8h	1.5209	+0.007%	$1.7M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5206	−0.013%	$533K	$801K	10x	as long as short
Aftermath Perps XRPUSD	+0.0628%	1h	1.5202	−0.039%	$2K	$16K	10x	as long as short