Funding you earn now, next payment 08:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.030%
Price spread now: Backpack against Phemex+0.099%7-day average +0.040% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$300.302% of the position
Funding, last 7 days+0.110%+$11 on $10k
+Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.099%, 7d avg +0.040%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 0.059% dearer against Phemex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.040%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex XRPUSDT | 1.5177 | 0.0100 | pay 0.0100% / 8h | 18m 26s | $54.1M | $32.8M | 50x |
| Short | Backpack XRP_USDC_PERP | 1.5192 | 0.0163 | get 0.0020% / 1h | 18m 26s | $2.0M | $1.4M | 25x |
Phemex XRPUSDT
Backpack XRP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $13.24
- Price spread: +0.099% → +0.040%
- $5.85
- Slippage, 4 orders
- −$8.23
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$11.15
- Costs to cover
- 0.302%
- Break-even
- 12.9 days
Slippage from Phemex: live order book, 6 min ago; Backpack: live order book, 1 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 | 0.33 bp | 9.1 bp −$9 | 12.0 bp −$120 | 18.5 bp −$1,854 | doesn't fit |
| Sell Backpack live order book, 1 min ago | 0.33 bp | 5.3 bp −$5 | 6.7 bp −$67 | 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 | 1.5175 | −0.013% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5179 | +0.014% | $1.1M | $148K | 10x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5161 | −0.103% | $245K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0014% | 1h | 1.5171 | −0.040% | $7.8M | $24.1M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.524% | $2K | $107K | 30x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0078% | 1h | 1.5183 | +0.039% | $14.6M | $73.8M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0088% | 1h | 1.5179 | +0.013% | $17K | $78K | 7x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5174 | −0.019% | $2.8M | $15.2M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5180 | +0.020% | $605K | $3.2M | 20x | as long as short |
| Katana Perps XRP-USD | +0.0099% | 8h | 1.5161 | −0.105% | $20K | $383K | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
Deribit XRP_USDC-PERPETUAL
Injective XRP/USDC PERP
Kraken Futures PF_XRPUSD
Hibachi XRP/USDT-P
Lighter XRP
Lighter RH XRP
Katana Perps XRP-USDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5166 | −0.076% | $998K | $6.3M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5165 | −0.077% | $38.5M | $86.6M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5176 | −0.005% | $611K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5163 | −0.092% | $529.0M | $2.22B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5164 | −0.086% | $349.4M | $953.2M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5165 | −0.079% | $127.1M | $866.4M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5179 | +0.013% | $563K | $33K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5174 | −0.020% | $143K | $715K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5178 | +0.007% | $1.6M | $13K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5162 | −0.099% | $375.8M | $162.2M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5163 | −0.092% | $307.0M | $927.2M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5162 | −0.099% | $106.6M | $183.6M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5164 | −0.086% | $268.7M | $389.1M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5168 | −0.059% | — | $4.1M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5131 | −0.304% | $4.8M | $38.8M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5115 | −0.407% | $657K | $113.6M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5140 | −0.245% | $1.1M | $34.5M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5118 | −0.389% | $1.2M | $1.2M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5168 | −0.059% | — | $15K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5164 | −0.086% | $52K | $515K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5181 | +0.027% | $41K | $69K | 20x | as long as short |
| Orderly PERP_XRP_USDC | +0.0100% | 8h | 1.5166 | −0.072% | $77K | $689K | 50x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5183 | +0.037% | $817K | $76K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5167 | −0.063% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5166 | −0.072% | $29K | $1.6M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5169 | −0.050% | $49.5M | $15.4M | 75x | as long as short |
| Phemex XRPUSDTlong | +0.0100% | 8h | 1.5177 | long leg | $54.1M | $32.8M | 50x | |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5176 | −0.006% | $473K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5161 | −0.107% | $2.1M | $6.9M | 50x | as long as short |
| 01 Exchange XRPUSD | +0.0104% | 1h | 1.5167 | −0.066% | $8K | $2K | 10x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5165 | −0.076% | $58K | $25K | 3x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0106% / S −0.0068% | 1h | 1.5162 | −0.099% | $773K | — | 200x | as long as short |
| Hyperliquid XRP | +0.0141% | 1h | 1.5173 | −0.026% | $289.7M | $268.0M | 20x | as long as short |
| Backpack XRP_USDC_PERPshort | +0.0163% | 1h | 1.5192 | +0.099% | $2.0M | $1.4M | 25x | |
| Kalshi KXXRPPERP | +0.0172% | 8h | 1.5168 | −0.059% | $1.8M | $34.0M | 2.9x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0176% | 1h | 1.5185 | +0.053% | $5.6M | $48.1M | 50x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5175 | −0.013% | $23.7M | $77.7M | 125x | as long as short |
| Reya XRPRUSDPERP | +0.0220% | 1h | 1.5157 | −0.130% | $1.3M | $4K | 15x | as long as short |
| RISEx XRP/USDC | +0.0394% | 1h | 1.5169 | −0.055% | $521K | $807K | 10x | as long as short |
| Phoenix XRP | +0.0526% | 1h | 1.5150 | −0.178% | $67K | $110K | 15x | as long as short |
| Aftermath Perps XRPUSD | +0.0601% | 1h | 1.5155 | −0.142% | $2K | $16K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Orderly PERP_XRP_USDC
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Paradex XRP-USD-PERP
Extended XRP-USD
01 Exchange XRPUSD
Aevo XRP-PERP
GMX XRP/USD [ETH-USDC]
Hyperliquid XRP
Kalshi KXXRPPERP
Coinbase International XRP-PERP-INTX
BloFin XRP-USDT
Reya XRPRUSDPERP
RISEx XRP/USDC
Phoenix XRP
Aftermath Perps XRPUSD