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: Aster against Phemex+0.030%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$280.282% of the position

Long on Phemex Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 3 days (all we have)+0.054%+$5 · spread now +0.030%, 7d avg +0.007%

Together, before fees+0.030%+ Points / potential airdropAster: Stage 5 · farm board+$3 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: Aster is 0.023% dearer against Phemex than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5094	0.0100	pay 0.0100% / 8h	5h 53m	$53.7M	$29.8M	50x
Short	Aster XRPUSDT	1.5098	0.0100	get 0.0100% / 8h	5h 53m	$38.3M	$83.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → +0.007%: $2.29
Slippage, 4 orders: −$8.22
Fee Phemex: 6 bp × 2 orders: −$12
Fee Aster: 4 bp × 2 orders: −$8
Net: −$25.93
Costs to cover: 0.282%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; Aster: 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 Phemex live order book, 6 min ago	2.32 bp	9.2 bp −$9	14.3 bp −$143	26.8 bp −$2,678	doesn't fit
Sell Aster live order book, 6 min ago	0.99 bp	5.2 bp −$5	7.0 bp −$70	13.4 bp −$1,338	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	−0.033%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5096	+0.013%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5130	+0.239%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5087	−0.044%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0025% / S +0.0051%	1h	1.5087	−0.049%	$797K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.087%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5097	+0.020%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5106	+0.080%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5098	+0.025%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5098	+0.027%	$508K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5096	+0.013%	$9K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5098	+0.030%	$985K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5108	+0.092%	$279.1M	$219.9M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5098	+0.030%	$38.3M	$83.0M	100x
Pacifica XRP	+0.0100%	1h	1.5100	+0.040%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5106	+0.080%	$535.7M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5105	+0.073%	$341.3M	$924.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5107	+0.086%	$124.6M	$860.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5072	−0.146%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5108	+0.093%	$114K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5087	−0.050%	$1.6M	$161K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5100	+0.040%	$368.3M	$150.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5099	+0.033%	$292.4M	$891.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5095	+0.004%	$106.3M	$170.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5101	+0.046%	$266.2M	$379.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5104	+0.066%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	+0.325%	$6.1M	$35.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5094	+0.003%	$655K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5115	+0.139%	$1.1M	$35.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5094	0.000%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5093	−0.007%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5084	−0.066%	$41K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5091	−0.021%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5098	+0.029%	$812K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5092	−0.013%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5101	+0.046%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5088	−0.042%	$49.4M	$15.4M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5094	long leg	$53.7M	$29.8M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5105	+0.070%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5100	+0.039%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5098	+0.025%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0214%	1h	1.5104	+0.066%	$7.7M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5086	−0.052%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5099	+0.033%	$5.6M	$46.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0219%	1h	1.5097	+0.020%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5097	+0.020%	$14.4M	$72.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5139	+0.301%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5093	−0.007%	$2.1M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5109	+0.103%	$526K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0751%	1h	1.5112	+0.116%	$2K	$14K	10x	as long as short