Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0114%/8h= +12.4% APRpaid last 24h +0.031%

Price spread now: Reya against Phemex+0.100%7-day average −0.016% · you sell dearer than you buy

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

Long on Phemex Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.101%+$10 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now +0.100%, 7d avg −0.016%

Together, before fees+0.063%+ Points / potential airdropReya: Active · farm board+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Reya is 0.116% dearer against Phemex than usual: you sell high and buy low: +$12 more if the spread 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	1.5196	0.0100	pay 0.0100% / 8h	6h 57m	$53.9M	$29.4M	50x
Short	Reya XRPRUSDPERP	1.5211	0.0214	get 0.0027% / 1h	57m 53s	$1.3M	$7K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now +0.100%Rate

Funding earned: $23.85
Price spread: +0.100% → −0.016%: $11.61
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Reya: 3 bp × 2 orders: −$6
Net: $17.46
Costs to cover: 0.180%
Break-even: 1.9 days

Slippage unknown: Phemex: live order book, 6 min ago; Reya: 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, 6 min ago	0.33 bp	10.4 bp −$10	14.4 bp −$144	23.6 bp −$2,356	doesn't fit
Sell Reya no order-book sample	—	—	—	—	—

Reya: 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	1.5181	−0.099%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5165	−0.201%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5188	−0.052%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0069%	1h	1.5194	−0.016%	$834K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.395%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5194	−0.015%	$14.2M	$70.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0066%	8h	1.5198	+0.013%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5214	+0.118%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5200	+0.024%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5201	+0.033%	$507K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5207	+0.072%	$11K	$288K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5186	−0.063%	$473K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5220	+0.158%	$923K	$5.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5206	+0.063%	$38.4M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5177	−0.126%	$616K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5210	+0.091%	$536.3M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5203	+0.046%	$339.1M	$924.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5202	+0.039%	$122.6M	$866.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5190	−0.039%	$567K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5206	+0.066%	$115K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+1.011%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5204	+0.053%	$367.7M	$147.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5203	+0.046%	$297.1M	$887.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5197	+0.007%	$109.1M	$168.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5200	+0.026%	$266.4M	$378.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5200	+0.026%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5216	+0.131%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5260	+0.420%	$663K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5199	+0.022%	$1.1M	$37.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.369%	$1.2M	$999K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5213	+0.111%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5215	+0.125%	$44K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5203	+0.048%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5195	−0.004%	$818K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5205	+0.056%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5196	0.000%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5202	+0.041%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5196	long leg	$53.9M	$29.4M	50x
Extended XRP-USD	+0.0104%	1h	1.5198	+0.012%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5198	+0.011%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0145%	1h	1.5198	+0.013%	$9.2M	$24.6M	50x	as long as short
Hyperliquid XRP	+0.0192%	1h	1.5211	+0.099%	$283.1M	$220.2M	20x	as long as short
Reya XRPRUSDPERPshort	+0.0214%	1h	1.5211	+0.100%	$1.3M	$7K	15x
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5197	+0.007%	$5.7M	$46.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5226	+0.197%	$24.1M	$74.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5221	+0.165%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0324%	8h	1.5201	+0.033%	$2.0M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5206	+0.065%	$537K	$777K	10x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	+0.290%	$68K	$110K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0522%	1h	1.5212	+0.105%	$1.9M	$1.3M	25x	as long as short
Aftermath Perps XRPUSD	+0.0827%	1h	1.5257	+0.403%	$2K	$13K	10x	as long as short