Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0174%/8h= −19.0% APRpaid last 24h −0.017%

Price spread now: Phemex against Kraken Futures+0.032%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$410.410% of the position

Long on Kraken Futures Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.070%−$7 on $10k

Price spread, last 3 days (all we have)−0.045%−$5 · spread now +0.032%, 7d avg −0.003%

Together, before fees−0.116%−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.035% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.032% now, against its 7-day average of −0.003%): +$3 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 7 days (−0.070% in total) that is about 3.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5123	0.0274	pay 0.0034% / 1h	52m 08s	$14.5M	$72.8M	50x
Short	Phemex XRPUSDT	1.5128	0.0100	get 0.0100% / 8h	5h 52m	$53.8M	$29.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Kraken Futures. 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 Kraken FuturesbpFee PhemexbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$36.49
Price spread: +0.032% → −0.003%: $3.46
Slippage, 4 orders: −$18.99
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$74.03
Costs to cover: 0.410%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Phemex: live order book, 2 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 Kraken Futures live order book, 2 min ago	1.66 bp	11.6 bp −$12	13.9 bp −$139	20.7 bp −$2,071	38.6 bp −$19.3K
Sell Phemex live order book, 2 min ago	0.66 bp	12.5 bp −$12	15.2 bp −$152	31.0 bp −$3,103	doesn't fit

XRP on 50 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	1.5089	−0.226%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5128	+0.035%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5119	−0.028%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0026% / S +0.0050%	1h	1.5122	−0.009%	$799K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.888%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5118	−0.034%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5126	+0.019%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5127	+0.023%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5127	+0.025%	$509K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5112	−0.074%	$9K	$305K	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5128	+0.035%	$990K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5136	+0.084%	$279.8M	$220.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5125	+0.011%	$38.3M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5131	+0.052%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5123	−0.001%	$536.3M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5128	+0.032%	$342.1M	$924.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5132	+0.058%	$124.8M	$862.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5072	−0.338%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5131	+0.052%	$114K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5087	−0.242%	$1.6M	$161K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5126	+0.019%	$368.9M	$150.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5126	+0.019%	$293.3M	$891.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5121	−0.017%	$106.5M	$170.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5127	+0.025%	$266.6M	$379.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5118	−0.034%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	+0.131%	$6.1M	$35.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5094	−0.190%	$655K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5115	−0.054%	$1.1M	$35.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5094	−0.193%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5124	+0.003%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5127	+0.025%	$41K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5129	+0.039%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5123	−0.001%	$814K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5131	+0.052%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5126	+0.019%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5123	0.000%	$49.5M	$15.4M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5128	+0.032%	$53.8M	$29.8M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5129	+0.037%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5120	−0.022%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5121	−0.016%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0147%	1h	1.5128	+0.032%	$7.7M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5120	−0.020%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5130	+0.045%	$5.6M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0244%	1h	1.5136	+0.085%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0274%	1h	1.5123	long leg	$14.5M	$72.8M	50x
Hibachi XRP/USDT-P	+0.0312%	1h	1.5118	−0.035%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5133	+0.065%	$2.1M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5129	+0.038%	$527K	$787K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5100	−0.153%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0723%	1h	1.5118	−0.033%	$2K	$14K	10x	as long as short