Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0028%/8h= +3.1% APRpaid last 24h −0.013%

Price spread now: Phemex against 01 Exchange−0.131%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.131% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.131% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$13 on $10k: about 16 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XRPUSD	1.5234	0.0072	pay 0.0009% / 1h	1m 20s	$8K	$8K	10x
Short	Phemex XRPUSDT	1.5214	0.0100	get 0.0100% / 8h	7h 01m	$54.0M	$29.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against 01 Exchange. 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 01 ExchangebpFee PhemexbpOrdersPrice spread, now −0.131%Rate

Funding earned: $5.88
Price spread: −0.131% → 0.000%: −$13.13
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$26.25
Costs to cover: 0.190%
Break-even: 38.2 days

Slippage unknown: 01 Exchange: no order-book sample; Phemex: live order book, 3 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	0.33 bp	12.5 bp −$12	21.1 bp −$211	44.1 bp −$4,414	doesn't fit

01 Exchange: 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	1.5246	+0.079%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5244	+0.066%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5215	−0.125%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5216	−0.118%	$9.2M	$24.6M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0070%	1h	1.5213	−0.139%	$834K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.140%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5217	−0.112%	$57K	$935K	50x	as long as short
01 Exchange XRPUSDlong	+0.0072%	1h	1.5234	long leg	$8K	$8K	10x
Lighter XRP	+0.0096%	1h	1.5215	−0.123%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5219	−0.098%	$508K	$3.3M	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	1.5227	−0.046%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5241	+0.045%	$475K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5221	−0.084%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5218	−0.105%	$38.4M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5251	+0.109%	$627K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5213	−0.138%	$536.5M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5215	−0.125%	$339.4M	$921.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5213	−0.138%	$122.7M	$863.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.125%	$567K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5240	+0.039%	$115K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.759%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5217	−0.112%	$366.9M	$153.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5219	−0.098%	$300.9M	$919.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5229	−0.034%	$110.3M	$167.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5213	−0.138%	$266.7M	$376.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5214	−0.131%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5216	−0.119%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5260	+0.169%	$663K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.616%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.118%	$1.2M	$999K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5229	−0.033%	$45K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	−0.103%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5219	−0.100%	$819K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5221	−0.083%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5215	−0.125%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5210	−0.159%	$49.9M	$15.4M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5214	−0.131%	$54.0M	$29.5M	50x
Vest XRP-PERP	+0.0100%	1h	1.5230	−0.028%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5213	−0.141%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5213	−0.136%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5216	−0.117%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5210	−0.158%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5220	−0.092%	$5.7M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0246%	1h	1.5213	−0.139%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5254	+0.131%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5252	+0.116%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5236	+0.013%	$2.0M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0357%	1h	1.5241	+0.046%	$286.5M	$216.2M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	+0.039%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5236	+0.014%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0853%	1h	1.5298	+0.420%	$2K	$13K	10x	as long as short