Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Phemex−0.243%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$340.338% of the position

Long on Phemex Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 4 days (all we have)+0.120%+$12 · spread now −0.243%, 7d avg +0.030%

Together, before fees+0.189%+$19 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: ApeX Omni is 0.273% cheaper against Phemex than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of +0.030%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5206	0.0100	pay 0.0100% / 8h	1h 26m	$54.5M	$32.4M	50x
Short	ApeX Omni XRPUSDT	1.5169	0.0100	get 0.0013% / 1h	26m 42s	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Phemex. 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 PhemexbpFee ApeX OmnibpOrdersPrice spread, now −0.243%Rate

Funding earned: $0
Price spread: −0.243% → +0.030%: −$27.33
Slippage, 4 orders: −$11.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$61.12
Costs to cover: 0.338%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; ApeX Omni: 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 Phemex live order book, 2 min ago	0.66 bp	10.1 bp −$10	13.1 bp −$131	21.9 bp −$2,192	doesn't fit
Sell ApeX Omni live order book, 2 min ago	2.31 bp	7.3 bp −$7	11.4 bp −$114	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	1.5214	+0.053%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5204	−0.015%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.237%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5172	−0.226%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5209	+0.023%	$14.4M	$74.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.328%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5213	+0.046%	$7.7M	$24.8M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0085% / S −0.0035%	1h	1.5204	−0.011%	$802K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5221	+0.102%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5222	+0.105%	$547K	$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
Katana Perps XRP-USD	+0.0099%	8h	1.5219	+0.085%	$11K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5210	+0.023%	$981K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5220	+0.090%	$38.6M	$87.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5223	+0.111%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5223	+0.109%	$534.1M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5220	+0.092%	$346.9M	$962.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5223	+0.112%	$127.6M	$886.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5198	−0.053%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5234	+0.184%	$144K	$715K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5221	+0.099%	$377.8M	$160.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5223	+0.112%	$305.1M	$926.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5217	+0.074%	$107.8M	$181.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5223	+0.112%	$268.4M	$397.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5224	+0.118%	—	$105.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5158	−0.317%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5165	−0.272%	$659K	$113.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5162	−0.289%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDTshort	+0.0100%	1h	1.5169	−0.243%	$1.2M	$1.2M	50x
Vest XRP-PERP	+0.0100%	1h	1.5204	−0.014%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5212	+0.039%	$47K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5206	−0.003%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5210	+0.026%	$65K	$773K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5148	−0.379%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5216	+0.067%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5211	+0.033%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5206	+0.002%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5206	long leg	$54.5M	$32.4M	50x
Bulk XRP-USD	+0.0100%	1h	1.5157	−0.322%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5231	+0.164%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5219	+0.084%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5234	+0.184%	$9K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5210	+0.026%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5172	−0.224%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5215	+0.059%	$5.7M	$48.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0182%	1h	1.5221	+0.099%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0196%	1h	1.5229	+0.151%	$289.5M	$265.0M	20x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5205	−0.007%	$1.8M	$35.2M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5156	−0.327%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5205	−0.007%	$23.7M	$78.1M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5213	+0.043%	$531K	$800K	10x	as long as short
Aftermath Perps XRPUSD	+0.0602%	1h	1.5174	−0.211%	$2K	$16K	10x	as long as short