Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against KuCoin+0.065%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$390.395% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 4 days (all we have)−0.120%−$12 · spread now +0.065%, 7d avg −0.009%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.074% dearer against KuCoin than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XRPUSDTM	1.5168	0.0100	pay 0.0100% / 8h	7m 40s	$106.6M	$183.2M	75x
Short	Phemex XRPUSDT	1.5178	0.0100	get 0.0100% / 8h	7m 40s	$54.1M	$32.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against KuCoin. 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 KuCoinbpFee PhemexbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → −0.009%: $7.38
Slippage, 4 orders: −$15.46
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$32.07
Costs to cover: 0.395%
Break-even: never at this rate

Slippage from KuCoin: live order book, 11 min ago; Phemex: live order book, 6 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 KuCoin live order book, 11 min ago	0.03 bp	9.3 bp −$9	10.9 bp −$109	27.6 bp −$2,761	doesn't fit
Sell Phemex live order book, 6 min ago	2.64 bp	11.0 bp −$11	13.1 bp −$131	27.9 bp −$2,792	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	1.5189	+0.137%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5169	+0.003%	$1.1M	$148K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5183	+0.098%	$7.7M	$24.0M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5185	+0.111%	$247K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.583%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5176	+0.051%	$14.5M	$73.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5190	+0.146%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5169	+0.005%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5173	+0.032%	$604K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5180	+0.078%	$20K	$382K	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	1.5179	+0.073%	$999K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5173	+0.032%	$38.5M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5171	+0.016%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5166	−0.012%	$529.3M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5179	+0.071%	$349.8M	$948.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5180	+0.078%	$127.2M	$863.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	+0.025%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5188	+0.131%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.137%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5178	+0.065%	$377.9M	$162.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5182	+0.091%	$309.9M	$929.9M	300x	as long as short
KuCoin XRPUSDTMlong	+0.0100%	8h	1.5168	long leg	$106.6M	$183.2M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5180	+0.078%	$268.9M	$388.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5180	+0.078%	—	$107.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.037%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.030%	$660K	$113.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5172	+0.025%	$1.1M	$34.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5168	−0.001%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5188	+0.132%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5186	+0.117%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5186	+0.115%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5186	+0.117%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5185	+0.108%	$817K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5190	+0.146%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5179	+0.071%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5189	+0.136%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5178	+0.065%	$54.1M	$32.7M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5175	+0.046%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5176	+0.051%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5190	+0.144%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5182	+0.093%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0109% / S −0.0071%	1h	1.5185	+0.110%	$784K	—	200x	as long as short
Hyperliquid XRP	+0.0142%	1h	1.5181	+0.084%	$289.8M	$268.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0165%	8h	1.5189	+0.137%	$1.8M	$33.7M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5185	+0.111%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0180%	1h	1.5188	+0.131%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5184	+0.104%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5180	+0.077%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5187	+0.127%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5170	+0.012%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0580%	1h	1.5179	+0.073%	$2K	$16K	10x	as long as short