Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.011%

Price spread now: edgeX against Phemex−0.072%7-day average −0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

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

costs, in and out, $10k−$310.306% of the position

Long on Phemex Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.072%, 7d avg −0.016%

Together, before fees−0.065%+ Points / potential airdropedgeX: Active · farm board−$6 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: edgeX is 0.056% cheaper against Phemex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5332	0.0100	pay 0.0100% / 8h	5h 01m	$54.8M	$33.2M	50x
Short	edgeX XRPUSDC	1.5321	0.0100	get 0.0050% / 4h	1h 01m	$667K	$107.0M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.072%Rate

Funding earned: $0
Price spread: −0.072% → −0.016%: −$5.61
Slippage, 4 orders: −$9.62
Fee Phemex: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$36.23
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from Phemex: live order book, 6 min ago; edgeX: 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	1.30 bp	11.5 bp −$12	13.9 bp −$139	26.3 bp −$2,631	doesn't fit
Sell edgeX live order book, 1 min ago	0.98 bp	5.5 bp −$5	5.6 bp −$56	8.8 bp −$880	doesn't fit

XRP on 51 exchanges

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	1.5387	+0.359%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5340	+0.049%	$13.8M	$69.3M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5335	+0.022%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5330	−0.013%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5340	+0.052%	$7.7M	$20.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5332	−0.001%	$242K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5345	+0.085%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.487%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5322	−0.064%	$17K	$70K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5340	+0.053%	$2.8M	$14.2M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5343	+0.072%	$599K	$3.2M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5342	+0.065%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5333	+0.007%	$10K	$410K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5326	−0.042%	$838K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5348	+0.104%	$297.9M	$264.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5339	+0.046%	$39.0M	$79.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5340	+0.052%	$590K	$987K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5339	+0.048%	$533.7M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5339	+0.046%	$361.5M	$858.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5337	+0.033%	$124.3M	$824.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5313	−0.124%	$563K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5344	+0.078%	$163K	$694K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5339	+0.046%	$378.4M	$161.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5337	+0.033%	$317.6M	$909.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5338	+0.037%	$105.1M	$180.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5337	+0.033%	$271.3M	$349.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5337	+0.033%	—	$98.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5324	−0.049%	$4.9M	$38.0M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5321	−0.072%	$667K	$107.0M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5326	−0.042%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5330	−0.013%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5336	+0.027%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5337	+0.033%	$52K	$470K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5334	+0.014%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5338	+0.039%	$83K	$601K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5303	−0.189%	$823K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5340	+0.050%	$129K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5336	+0.026%	$31K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5331	−0.004%	$50.0M	$13.2M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5332	long leg	$54.8M	$33.2M	50x
Bulk XRP-USD	+0.0100%	1h	1.5324	−0.049%	$1.6M	$66K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5332	+0.003%	$2.2M	$6.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5333	+0.005%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5339	+0.046%	$5.4M	$42.5M	50x	as long as short
Kalshi KXXRPPERP	+0.0115%	8h	1.5340	+0.052%	$1.9M	$35.4M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0163%	1h	1.5345	+0.085%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5325	−0.046%	$23.7M	$77.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5332	−0.003%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5345	+0.084%	$508K	$723K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0249% / S −0.0483%	1h	1.5328	−0.028%	$886K	—	200x	as long as short
Aftermath Perps XRPUSD	+0.0379%	1h	1.5320	−0.076%	$3K	$13K	10x	as long as short