XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0416%/8h= −45.5% APRnext payment −$0.52 per $10,000 · paid last 24h +0.023%

Price spread now: Polymarket Perps against Phoenix+0.129%59s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Polymarket Perps is 0.129% dearer against Phoenix than usual: you sell high and buy low (spread +0.129% now, against zero (this spread has no 7-day history yet)): +$13 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 25 hours. Mind the row above: over the last 7 days funding on this pair paid +0.159%, so the current rate has only just turned against you. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.159% in total (about 8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.52 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XRP	1.5520	0.0516	pay 0.0064% / 1h	4m 19s	$69K	$90K	15x
Short	Polymarket Perps XRP-USD	1.5540	0.0100	get 0.0013% / 1h	4m 19s	$46K	$449K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Phoenix. 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 PhoenixbpFee Polymarket PerpsbpOrdersPrice spread, now +0.129%Rate

Funding earned: −$87.32
Price spread: +0.129% → 0.000%: $12.89
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$89.43
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Polymarket Perps: live order book, 13 min ago. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 13 min ago	2.25 bp	8.1 bp −$8	10.4 bp −$104	doesn't fit	doesn't fit

Phoenix: 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	1.5539	+0.122%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5532	+0.076%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5516	−0.026%	$9.6M	$25.2M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0001% / S +0.0112%	1h	1.5539	+0.125%	$854K	—	200x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5539	+0.124%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.258%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5515	−0.034%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5538	+0.116%	$76K	$909K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5542	+0.139%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5544	+0.155%	$444K	$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
Nado XRP-PERP	+0.0100%	1h	1.5537	+0.113%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5538	+0.119%	$39.5M	$79.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5536	+0.106%	$640K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5540	+0.129%	$559.1M	$1.99B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5538	+0.116%	$346.3M	$904.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5536	+0.103%	$127.7M	$882.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5500	−0.129%	$576K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5536	+0.103%	$119K	$746K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	−0.120%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5538	+0.116%	$372.1M	$144.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5539	+0.122%	$300.6M	$869.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5539	+0.126%	$113.4M	$161.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5538	+0.116%	$271.2M	$366.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5537	+0.110%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5512	−0.049%	$11.5M	$30.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5481	−0.252%	$672K	$102.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5513	−0.044%	$1.1M	$41.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5496	−0.155%	$1.0M	$885K	50x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5540	+0.129%	$46K	$449K	20x
Bullet XRP-USD	+0.0100%	1h	1.5539	+0.122%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5541	+0.136%	$837K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5517	−0.016%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5515	−0.032%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5502	−0.114%	$50.9M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5514	−0.039%	$55.2M	$29.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5530	+0.065%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5531	+0.068%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5533	+0.084%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5528	+0.048%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5537	+0.108%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5537	+0.110%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5538	+0.113%	$1.4M	$8K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5522	+0.013%	$6.0M	$47.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5516	−0.026%	$24.5M	$73.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5511	−0.055%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5526	+0.039%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5525	+0.032%	$2.0M	$33.2M	2.9x	as long as short
Phoenix XRPlong	+0.0516%	1h	1.5520	long leg	$69K	$90K	15x
RISEx XRP/USDC	+0.0527%	1h	1.5545	+0.162%	$509K	$630K	10x	as long as short
Hyperliquid XRP	+0.0581%	1h	1.5556	+0.232%	$291.5M	$205.2M	20x	as long as short
Aftermath Perps XRPUSD	+0.0775%	1h	1.5521	+0.003%	$1K	$11K	10x	as long as short