XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0525%/8h= +57.5% APRnext payment +$0.66 per $10,000 · paid last 24h +0.019%

Price spread now: Phoenix against gTrade (Gains Network)+0.289%7-day average −0.007% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$312as in the Price arb table

costs, in and out, $10k−$3423.419% of the position

Long on gTrade (Gains Network)Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 4 days (all we have)−0.343%−$34 · spread now +0.289%, 7d avg −0.007%

Together, before fees−0.326%−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Phoenix is 0.296% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of −0.007%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.017% in total (about 1.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.66 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	gTrade (Gains Network) XRP/USD	1.5146	L +0.0003% / S −0.0004%	pay 0.0000% / 1h	27m 14s	$253K	—	150x
Short	Phoenix XRP	1.5190	0.0528	get 0.0066% / 1h	27m 14s	$68K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhoenixbpOrdersPrice spread, now +0.289%Rate

Funding earned: $110.27
Price spread: +0.289% → −0.007%: $29.6
Slippage, 4 orders: −$324.87
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$202.01
Costs to cover: 3.419%
Break-even: 19.8 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 37 min ago; Phoenix: live order book, 16 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 gTrade (Gains Network) virtual book (oracle venue), 37 min ago	130.04 bp	135.0 bp −$135	208.0 bp −$2,080	1906.1 bp −$190.6K	9819.7 bp −$4.91M
Sell Phoenix live order book, 16 min ago	6.59 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	1.5163	+0.111%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5150	+0.025%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USDlong	L +0.0003% / S −0.0004%	1h	1.5146	long leg	$253K	—	150x
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5150	+0.025%	$7.7M	$25.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.732%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0035% / S +0.0042%	1h	1.5146	−0.004%	$818K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5153	+0.045%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0076%	8h	1.5148	+0.012%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5149	+0.021%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5153	+0.045%	$511K	$3.3M	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	+0.0100%	8h	1.5146	−0.001%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5151	+0.035%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5160	+0.091%	$281.0M	$221.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5152	+0.038%	$38.4M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	+0.057%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5155	+0.058%	$537.3M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5152	+0.038%	$343.9M	$927.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5155	+0.058%	$125.7M	$866.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5171	+0.164%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5155	+0.058%	$114K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	+0.066%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5147	+0.005%	$369.0M	$152.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5151	+0.032%	$292.6M	$899.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5150	+0.025%	$108.2M	$171.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5146	−0.001%	$267.6M	$379.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5149	+0.018%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	+0.345%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5184	+0.249%	$659K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5175	+0.188%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	+0.408%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5154	+0.049%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5150	+0.025%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5148	+0.013%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5149	+0.021%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5157	+0.075%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5148	+0.012%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5157	+0.075%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5154	+0.051%	$53.9M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5152	+0.036%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5143	−0.018%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5146	+0.001%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0193%	1h	1.5162	+0.104%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5145	−0.009%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5153	+0.045%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5154	+0.051%	$24.2M	$74.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5184	+0.250%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5147	+0.003%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0352%	8h	1.5158	+0.078%	$2.1M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5156	+0.067%	$516K	$776K	10x	as long as short
Phoenix XRPshort	+0.0528%	1h	1.5190	+0.289%	$68K	$110K	15x
Aftermath Perps XRPUSD	+0.0685%	1h	1.5167	+0.137%	$2K	$14K	10x	as long as short