Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Katana Perps against ApeX Omni−0.204%54s7-day average −0.076% · you buy dearer than you sell

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

Long on ApeX Omni Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.035%−$4 on $10k

Price spread, last 7 days+0.075%+$8 · spread now −0.204%, 7d avg −0.076%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Katana Perps is 0.128% cheaper against ApeX Omni than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.076%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XRPUSDT	1.5165	0.0100	pay 0.0013% / 1h	56m 01s	$1.2M	$1.1M	50x
Short	Katana Perps XRP-USD	1.5134	0.0099	get 0.0099% / 8h	1h 56m	$11K	$363K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against ApeX Omni. 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 ApeX OmnibpFee Katana PerpsbpOrdersPrice spread, now −0.204%Rate

Funding earned: −$0.22
Price spread: −0.204% → −0.076%: −$12.83
Slippage, 4 orders: no order book: not counted
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$26.84
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: ApeX Omni: live order book, 3 min ago; Katana Perps: 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 ApeX Omni live order book, 3 min ago	1.32 bp	6.5 bp −$7	12.9 bp −$129	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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	1.5158	−0.046%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5136	−0.190%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	−0.033%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5140	−0.167%	$245K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5146	−0.125%	$7.7M	$25.2M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5136	−0.191%	$14.4M	$75.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.605%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0077% / S −0.0023%	1h	1.5139	−0.171%	$798K	—	200x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5141	−0.158%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5140	−0.166%	$2.8M	$15.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5141	−0.158%	$546K	$3.2M	20x	as long as short
Katana Perps XRP-USDshort	+0.0099%	8h	1.5134	−0.204%	$11K	$363K	20x
Nado XRP-PERP	+0.0100%	1h	1.5145	−0.129%	$999K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5146	−0.125%	$38.5M	$87.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5139	−0.174%	$602K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5146	−0.124%	$528.4M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5147	−0.119%	$344.0M	$967.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5149	−0.106%	$126.8M	$891.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5154	−0.073%	$564K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5150	−0.099%	$143K	$718K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5166	+0.007%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5147	−0.119%	$375.0M	$157.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5150	−0.099%	$296.9M	$916.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5152	−0.087%	$107.3M	$182.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5147	−0.119%	$266.5M	$399.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5142	−0.152%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	−0.068%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5133	−0.214%	$659K	$114.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5156	−0.061%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDTlong	+0.0100%	1h	1.5165	long leg	$1.2M	$1.1M	50x
Vest XRP-PERP	+0.0100%	1h	1.5147	−0.115%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5148	−0.112%	$46K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5140	−0.166%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5141	−0.158%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5139	−0.173%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5141	−0.158%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5136	−0.191%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5142	−0.152%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5139	−0.171%	$54.0M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5153	−0.081%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5148	−0.114%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5141	−0.155%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5152	−0.089%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0169%	1h	1.5156	−0.059%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5147	−0.119%	$5.7M	$48.4M	50x	as long as short
Hyperliquid XRP	+0.0201%	1h	1.5159	−0.036%	$289.3M	$264.5M	20x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5146	−0.125%	$1.7M	$35.4M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5142	−0.150%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5141	−0.158%	$23.3M	$77.6M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5146	−0.127%	$517K	$792K	10x	as long as short
Aftermath Perps XRPUSD	+0.0572%	1h	1.5151	−0.089%	$2K	$16K	10x	as long as short