Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.040%

Price spread now: Hibachi against Phemex−0.066%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.286%+$29 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hibachi is 0.066% cheaper against Phemex than usual: you would sell low and buy high, −$7 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5396	0.0100	pay 0.0100% / 8h	6h 14m	$54.9M	$33.3M	50x
Short	Hibachi XRP/USDT-P	1.5386	0.0104	get 0.0013% / 1h	14m 52s	$17K	$76K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.066%Rate

Funding earned: $0.84
Price spread: −0.066% → 0.000%: −$6.57
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$26.73
Costs to cover: 0.210%
Break-even: 229.7 days

Slippage unknown: Phemex: live order book, 2 min ago; Hibachi: 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, 2 min ago	0.32 bp	12.7 bp −$13	14.9 bp −$149	25.4 bp −$2,539	doesn't fit
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: 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 50 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	1.5377	−0.123%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5379	−0.110%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5398	+0.013%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5384	−0.081%	$250K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5391	−0.032%	$14.2M	$72.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.065%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5398	+0.013%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5395	−0.009%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5400	+0.026%	$606K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5382	−0.090%	$480K	$51K	50x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5390	−0.039%	$10K	$396K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5393	−0.023%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5395	−0.008%	$39.6M	$82.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5383	−0.085%	$590K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5394	−0.012%	$536.8M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5395	−0.006%	$363.5M	$899.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5392	−0.026%	$124.7M	$846.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5340	−0.364%	$563K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5400	+0.026%	$165K	$692K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5353	−0.282%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5401	+0.032%	$380.4M	$160.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5399	+0.019%	$315.3M	$917.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5399	+0.023%	$107.0M	$182.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5394	−0.013%	$272.7M	$360.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5394	−0.013%	—	$103.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5377	−0.122%	$5.1M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5350	−0.296%	$667K	$111.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5372	−0.153%	$1.1M	$31.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5360	−0.234%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5393	−0.022%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5399	+0.019%	$53K	$479K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5397	+0.004%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5397	+0.006%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5382	−0.092%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5390	−0.039%	$31K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5372	−0.159%	$50.1M	$14.2M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5396	long leg	$54.9M	$33.3M	50x
Extended XRP-USD	+0.0104%	1h	1.5394	−0.015%	$2.1M	$5.8M	50x	as long as short
Hibachi XRP/USDT-Pshort	+0.0104%	1h	1.5386	−0.066%	$17K	$76K	7x
Aevo XRP-PERP	+0.0104%	1h	1.5389	−0.044%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5400	+0.026%	$5.5M	$45.7M	50x	as long as short
Hyperliquid XRP	+0.0129%	1h	1.5408	+0.078%	$299.4M	$268.6M	20x	as long as short
Kalshi KXXRPPERP	+0.0152%	8h	1.5397	+0.006%	$1.9M	$34.3M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0155% / S −0.0126%	1h	1.5382	−0.088%	$801K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5406	+0.065%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5391	−0.032%	$23.9M	$79.2M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5393	−0.017%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5398	+0.016%	$514K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0465%	1h	1.5381	−0.098%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5350	−0.299%	$69K	$109K	15x	as long as short