XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0350%/8h= +38.4% APRnext payment +$0.44 per $10,000 · paid last 24h −0.028%

Price spread now: Phoenix against Coinbase International+0.053%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$860.865% of the position

Long on Coinbase International Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.209%−$21 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now +0.053%, 7d avg −0.027%

Together, before fees−0.265%−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Phoenix is 0.079% dearer against Coinbase International than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.027%. Mind the row above: over the last 7 days funding on this pair cost −0.209%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.209% in total (about -10.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.44 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	Coinbase International XRP-PERP-INTX	1.5172	0.0176	pay 0.0022% / 1h	16m 51s	$5.6M	$48.0M	50x
Short	Phoenix XRP	1.5180	0.0526	get 0.0066% / 1h	16m 51s	$67K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Coinbase International. 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 Coinbase InternationalbpFee PhoenixbpOrdersPrice spread, now +0.053%Rate

Funding earned: $73.57
Price spread: +0.053% → −0.027%: $7.94
Slippage, 4 orders: −$69.45
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$4.94
Costs to cover: 0.865%
Break-even: 7.5 days

Slippage from Coinbase International: live order book, 2 min ago; Phoenix: live order book, 1 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 Coinbase International live order book, 2 min ago	0.33 bp	7.3 bp −$7	9.4 bp −$94	24.6 bp −$2,464	doesn't fit
Sell Phoenix live order book, 1 min ago	6.58 bp	35.9 bp −$36	83.7 bp −$837	doesn't fit	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	1.5160	−0.079%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5160	−0.077%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5161	−0.071%	$245K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5169	−0.020%	$7.7M	$24.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.557%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5170	−0.010%	$14.5M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5169	−0.023%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5174	+0.013%	$604K	$3.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5163	−0.062%	$17K	$78K	7x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5160	−0.079%	$20K	$383K	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	1.5163	−0.059%	$998K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5173	+0.006%	$38.5M	$86.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5167	−0.033%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5172	+0.003%	$529.3M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5169	−0.020%	$349.5M	$951.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5168	−0.026%	$127.2M	$864.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5179	+0.046%	$563K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5170	−0.013%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	+0.040%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5171	−0.007%	$377.7M	$162.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5170	−0.013%	$307.3M	$927.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5169	−0.022%	$106.7M	$183.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5170	−0.013%	$268.9M	$389.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5164	−0.053%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5131	−0.271%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5169	−0.019%	$660K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5177	+0.032%	$1.1M	$34.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5181	+0.059%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5167	−0.031%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5162	−0.066%	$52K	$515K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5162	−0.064%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5164	−0.053%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5167	−0.035%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5164	−0.050%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5166	−0.040%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5160	−0.076%	$49.5M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5168	−0.026%	$54.0M	$32.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5169	−0.019%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5165	−0.043%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5167	−0.033%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5164	−0.056%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0106% / S −0.0069%	1h	1.5162	−0.068%	$774K	—	200x	as long as short
Hyperliquid XRP	+0.0142%	1h	1.5185	+0.086%	$290.0M	$268.1M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0166%	1h	1.5180	+0.053%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0172%	8h	1.5171	−0.007%	$1.8M	$34.0M	2.9x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0176%	1h	1.5172	long leg	$5.6M	$48.0M	50x
BloFin XRP-USDT	+0.0220%	8h	1.5163	−0.059%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5156	−0.103%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5169	−0.020%	$521K	$807K	10x	as long as short
Phoenix XRPshort	+0.0526%	1h	1.5180	+0.053%	$67K	$110K	15x
Aftermath Perps XRPUSD	+0.0599%	1h	1.5158	−0.092%	$2K	$16K	10x	as long as short