XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0428%/8h= +46.9% APRnext payment +$0.54 per $10,000 · paid last 24h −0.004%

Price spread now: Phoenix against Derive+0.070%7-day average −0.004% · you sell dearer than you buy

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

Long on Derive Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now +0.070%, 7d avg −0.004%

Together, before fees−0.123%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Phoenix is 0.073% dearer against Derive than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.004%. Mind the row above: over the last 7 days funding on this pair cost −0.229%, 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 -0.229% in total (about -12.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 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	Derive XRP-PERP	1.5179	0.0100	pay 0.0013% / 1h	24m 31s	$817K	$72K	10x
Short	Phoenix XRP	1.5190	0.0528	get 0.0066% / 1h	24m 31s	$68K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Derive. 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 DerivebpFee PhoenixbpOrdersPrice spread, now +0.070%Rate

Funding earned: $89.89
Price spread: +0.070% → −0.004%: $7.35
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $84.24
Costs to cover: 0.130%
Break-even: 0.4 days

Slippage unknown: Derive: no order-book sample; Phoenix: live order book, 8 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 Derive no order-book sample	—	—	—	—	—
Sell Phoenix live order book, 8 min ago	6.56 bp	35.8 bp −$36	83.3 bp −$833	doesn't fit	doesn't fit

Derive: 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	1.5178	−0.009%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5163	−0.105%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5180	+0.004%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5177	−0.013%	$254K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5174	−0.037%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.507%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5177	−0.017%	$792K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5168	−0.075%	$2.8M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5168	−0.075%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5161	−0.121%	$9K	$348K	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	1.5168	−0.078%	$989K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5159	−0.134%	$38.7M	$85.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5168	−0.075%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5159	−0.136%	$534.5M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5158	−0.141%	$345.8M	$943.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5161	−0.121%	$126.6M	$882.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	+0.017%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5173	−0.042%	$131K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5212	+0.215%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5167	−0.082%	$368.5M	$155.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5166	−0.088%	$296.3M	$904.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5168	−0.073%	$109.1M	$177.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5158	−0.141%	$268.9M	$389.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5167	−0.082%	—	$127.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5187	+0.048%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.061%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5219	+0.261%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.109%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5163	−0.106%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5159	−0.134%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5178	−0.009%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5178	−0.009%	$62K	$934K	50x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5179	long leg	$817K	$72K	10x
SunX XRP-USDT	+0.0100%	8h	1.5183	+0.024%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5174	−0.036%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5186	+0.046%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5178	−0.009%	$54.0M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5166	−0.086%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5163	−0.107%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5173	−0.042%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5172	−0.049%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5184	+0.030%	$5.7M	$47.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5153	−0.175%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	−0.003%	$24.1M	$76.0M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0264%	1h	1.5182	+0.017%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5191	+0.079%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0331%	8h	1.5185	+0.037%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5171	−0.056%	$517K	$776K	10x	as long as short
Hyperliquid XRP	+0.0402%	1h	1.5177	−0.016%	$299.8M	$246.3M	20x	as long as short
Phoenix XRPshort	+0.0528%	1h	1.5190	+0.070%	$68K	$110K	15x
Aftermath Perps XRPUSD	+0.0679%	1h	1.5204	+0.164%	$2K	$15K	10x	as long as short