Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.084%

Price spread now: GMX against Phemex+0.030%7-day average +0.019% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Phemex Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.247%−$25 on $10k

Price spread, last 4 days (all we have)+0.058%+$6 · spread now +0.030%, 7d avg +0.019%

Together, before fees−0.189%−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.019%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5168	0.0100	pay 0.0100% / 8h	10m 35s	$54.1M	$32.7M	50x
Short	GMX XRP/USD [ETH-USDC]	1.5172	L +0.0108% / S −0.0072%	get 0.0009% / 1h	10m 35s	$773K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$5.95
Price spread: +0.030% → +0.019%: $1.07
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$28.88
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 4 min ago; GMX: no order-book sample. Net counts fees only.

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	2.64 bp	9.7 bp −$10	15.5 bp −$155	23.9 bp −$2,388	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5184	+0.105%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5175	+0.048%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5163	−0.031%	$246K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.584%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5173	+0.034%	$14.5M	$73.6M	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5175	+0.046%	$7.7M	$24.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5181	+0.089%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5184	+0.105%	$605K	$3.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5177	+0.059%	$17K	$78K	7x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5181	+0.086%	$20K	$382K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5187	+0.129%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5187	+0.125%	$38.6M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5183	+0.102%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5189	+0.137%	$529.8M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5189	+0.138%	$350.1M	$949.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5196	+0.185%	$127.4M	$864.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	+0.026%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5193	+0.165%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	+0.066%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5184	+0.105%	$378.1M	$162.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5188	+0.132%	$311.9M	$928.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5183	+0.099%	$106.7M	$183.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5198	+0.198%	$269.2M	$388.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5185	+0.112%	—	$107.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.036%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5151	−0.112%	$658K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5180	+0.078%	$1.1M	$34.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5182	+0.092%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5192	+0.160%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5199	+0.204%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5164	−0.029%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5166	−0.013%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5175	+0.046%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5170	+0.016%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5169	+0.007%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5163	−0.033%	$49.5M	$15.4M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5168	long leg	$54.1M	$32.7M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5184	+0.104%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5183	+0.099%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5192	+0.158%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5167	−0.010%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0108% / S −0.0072%	1h	1.5172	+0.030%	$773K	—	200x
Hyperliquid XRP	+0.0143%	1h	1.5182	+0.090%	$289.8M	$268.4M	20x	as long as short
Kalshi KXXRPPERP	+0.0167%	8h	1.5171	+0.020%	$1.8M	$33.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0175%	1h	1.5183	+0.099%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5176	+0.053%	$5.6M	$48.0M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5172	+0.026%	$23.6M	$77.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5196	+0.183%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5193	+0.163%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	+0.079%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0586%	1h	1.5169	+0.004%	$2K	$16K	10x	as long as short