XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0080%/8h= −8.8% APRnext payment −$0.10 per $10,000 · paid last 24h +0.026%

Price spread now: Phoenix against Deribit+0.125%7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$110as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$830.832% of the position

Long on Deribit Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.263%−$26 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.125%, 7d avg −0.026%

Together, before fees−0.383%−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phoenix is 0.152% dearer against Deribit than usual: you sell high and buy low (spread +0.125% now, against its 7-day average of −0.026%): +$15 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5151	0.0080	pay 0.0010% / 1h	48m 27s	$7.7M	$25.1M	50x
Short	Phoenix XRP	1.5170	0	get 0.0000% / 1h	48m 27s	$67K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Deribit. 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 DeribitbpFee PhoenixbpOrdersPrice spread, now +0.125%Rate

Funding earned: −$16.8
Price spread: +0.125% → −0.026%: $15.18
Slippage, 4 orders: −$69.17
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$84.78
Costs to cover: 0.832%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; Phoenix: live order book, 39 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 Deribit live order book, 1 min ago	0.99 bp	5.0 bp −$5	6.6 bp −$66	45.2 bp −$4,518	doesn't fit
Sell Phoenix live order book, 39 min ago	6.67 bp	36.3 bp −$36	84.8 bp −$848	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	1.5148	−0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5146	−0.032%	$1.1M	$148K	10x	as long as short
Phoenix XRPshort	0.0000%	1h	1.5170	+0.125%	$67K	$110K	15x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5149	−0.011%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5147	−0.025%	$14.4M	$75.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.699%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5139	−0.079%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0079% / S −0.0026%	1h	1.5149	−0.011%	$799K	—	200x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0080%	1h	1.5151	long leg	$7.7M	$25.1M	50x
Lighter XRP	+0.0096%	1h	1.5148	−0.022%	$2.8M	$15.1M	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	1.5149	−0.013%	$546K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5138	−0.086%	$12K	$367K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5122	−0.192%	$994K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5145	−0.041%	$38.5M	$87.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5151	0.000%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5140	−0.073%	$528.2M	$2.23B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5141	−0.066%	$344.5M	$967.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5142	−0.059%	$127.1M	$890.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5146	−0.033%	$563K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5147	−0.026%	$143K	$718K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5129	−0.146%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5148	−0.020%	$373.3M	$158.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5142	−0.059%	$298.6M	$918.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5139	−0.079%	$107.2M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5140	−0.073%	$266.8M	$400.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5147	−0.026%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5130	−0.139%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5141	−0.064%	$658K	$114.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5141	−0.067%	$1.1M	$36.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5146	−0.033%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5147	−0.030%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5144	−0.046%	$47K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5144	−0.046%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5149	−0.013%	$65K	$933K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5149	−0.010%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5153	+0.016%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5146	−0.033%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5146	−0.034%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5147	−0.026%	$54.1M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5153	+0.014%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5142	−0.056%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5146	−0.034%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0166%	1h	1.5163	+0.079%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5163	+0.079%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0169%	1h	1.5155	+0.026%	$289.1M	$264.2M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5154	+0.020%	$5.7M	$48.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5137	−0.090%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5146	−0.033%	$23.5M	$77.9M	125x	as long as short
Kalshi KXXRPPERP	+0.0221%	8h	1.5153	+0.013%	$1.7M	$35.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5147	−0.024%	$522K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0550%	1h	1.5146	−0.032%	$2K	$16K	10x	as long as short