XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0482%/8h= −52.8% APRnext payment −$0.60 per $10,000 · paid last 24h −0.069%

Price spread now: SoDEX against Hyperliquid+0.123%51s7-day average −0.075% · 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—prices read too far apart to compare

costs, in and out, $10k−$190.190% of the position

Long on Hyperliquid Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.099%−$10 on $10k

Price spread, last 3 days (all we have)−0.358%−$36 · spread now +0.123%, 7d avg −0.075%

Together, before fees−0.457%+ Points / potential airdropHyperliquid: Season 2 · farm board−$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.198% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.123% now, against its 7-day average of −0.075%): +$20 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 3 days (−0.099% in total) that is about 6.2 days. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.099% in total (about -11.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.60 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	Hyperliquid XRP	1.5491	0.0582	pay 0.0073% / 1h	8m 30s	$289.5M	$204.4M	20x
Short	SoDEX XRP-USD	1.5510	0.0100	get 0.0013% / 1h	8m 30s	$33K	$1.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX against Hyperliquid. 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 HyperliquidbpFee SoDEXbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$101.16
Price spread: +0.123% → −0.075%: $19.78
Slippage, 4 orders: −$2.04
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$100.43
Costs to cover: 0.190%
Break-even: from the start

Slippage from Hyperliquid: live order book, 6 min ago; SoDEX: live order book, just now.

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 Hyperliquid live order book, 6 min ago	0.64 bp	5.1 bp −$5	6.6 bp −$66	12.3 bp −$1,227	doesn't fit
Sell SoDEX live order book, just now	0.32 bp	4.3 bp −$4	6.4 bp −$64	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	1.5507	+0.103%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0001% / S +0.0114%	1h	1.5501	+0.062%	$850K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5497	+0.038%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5466	−0.161%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.445%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5512	+0.138%	$15.5M	$68.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5505	+0.090%	$78K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0072%	1h	1.5513	+0.142%	$9.5M	$25.2M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5505	+0.088%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5510	+0.123%	$440K	$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
Nado XRP-PERP	+0.0100%	1h	1.5481	−0.061%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5496	+0.034%	$39.3M	$79.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5502	+0.073%	$638K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5479	−0.077%	$557.2M	$1.99B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5473	−0.116%	$344.0M	$901.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5473	−0.116%	$127.4M	$879.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5467	−0.155%	$578K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5494	+0.019%	$119K	$745K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	+0.067%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5485	−0.039%	$371.8M	$141.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5475	−0.103%	$297.9M	$867.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5474	−0.112%	$113.1M	$160.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5474	−0.110%	$270.0M	$365.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5490	−0.006%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5501	+0.067%	$11.8M	$30.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5508	+0.110%	$673K	$101.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5528	+0.239%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5520	+0.187%	$1.0M	$884K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5483	−0.053%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5479	−0.077%	$46K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5469	−0.142%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5507	+0.106%	$835K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5514	+0.152%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5510	+0.123%	$33K	$1.9M	10x
HTX XRP-USDT	+0.0100%	8h	1.5514	+0.149%	$50.9M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5510	+0.123%	$55.2M	$29.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5495	+0.027%	$483K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5482	−0.058%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5478	−0.082%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5505	+0.090%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5485	−0.039%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5472	−0.125%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5513	+0.142%	$5.9M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5514	+0.148%	$24.6M	$73.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5505	+0.087%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0291%	1h	1.5518	+0.174%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5509	+0.116%	$1.9M	$33.2M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5500	+0.058%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5490	−0.004%	$507K	$631K	10x	as long as short
Hyperliquid XRPlong	+0.0582%	1h	1.5491	long leg	$289.5M	$204.4M	20x
Aftermath Perps XRPUSD	+0.0774%	1h	1.5520	+0.186%	$1K	$11K	10x	as long as short