Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against Phemex+0.006%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$370.372% of the position

Long on Phemex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.026%+$3 on $10k

Price spread, last 3 days (all we have)+0.075%+$8 · spread now +0.006%, 7d avg −0.003%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5593	0.0100	pay 0.0100% / 8h	45m 17s	$55.5M	$29.4M	50x
Short	BingX XRP-USDT	1.5594	0.0100	get 0.0100% / 8h	45m 17s	—	$120.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0
Price spread: +0.006% → −0.003%: $0.9
Slippage, 4 orders: −$15.18
Fee Phemex: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$36.29
Costs to cover: 0.372%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; BingX: live order book, 9 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, 4 min ago	2.56 bp	15.6 bp −$16	31.8 bp −$318	50.3 bp −$5,028	doesn't fit
Sell BingX live order book, 9 min ago	0.96 bp	6.0 bp −$6	6.0 bp −$60	7.9 bp −$794	12.8 bp −$6,414

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	1.5603	+0.064%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5605	+0.075%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5620	+0.173%	$70K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5600	+0.045%	$9.7M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5590	−0.017%	$261K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0105%	1h	1.5590	−0.021%	$858K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5598	+0.032%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5596	+0.019%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.212%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5605	+0.077%	$3.0M	$12.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5605	+0.077%	$444K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5596	+0.022%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5597	+0.027%	$39.6M	$80.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5606	+0.081%	$642K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5594	+0.008%	$558.4M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5595	+0.013%	$347.8M	$914.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5595	+0.013%	$127.4M	$891.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5568	−0.160%	$579K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5604	+0.071%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.257%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5595	+0.013%	$375.5M	$143.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5596	+0.019%	$302.4M	$868.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5598	+0.034%	$113.5M	$163.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5597	+0.026%	$272.8M	$370.0M	125x	as long as short
BingX XRP-USDTshort	+0.0100%	8h	1.5594	+0.006%	—	$120.6M	—
Variational Omni XRP	+0.0100%	8h	1.5624	+0.196%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	−0.001%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	+0.077%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5567	−0.167%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5598	+0.035%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5599	+0.038%	$49K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5594	+0.006%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5600	+0.045%	$840K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5604	+0.068%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5598	+0.032%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5599	+0.038%	$51.2M	$15.5M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5593	long leg	$55.5M	$29.4M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5603	+0.062%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5609	+0.103%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5596	+0.017%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5598	+0.032%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5602	+0.058%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5594	+0.008%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	−0.051%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5607	+0.090%	$5.9M	$47.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5633	+0.256%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5636	+0.276%	$2.0M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0396%	1h	1.5629	+0.231%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0626%	1h	1.5616	+0.148%	$297.6M	$208.8M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5613	+0.127%	$509K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0813%	1h	1.5610	+0.108%	$1K	$11K	10x	as long as short