Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0177%/8h= −19.4% APRpaid last 24h +0.002%

Price spread now: Kraken Futures against Bybit−0.240%7-day average +0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.240%, 7d avg +0.005%

Together, before fees+0.249%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Kraken Futures is 0.245% cheaper against Bybit than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.005%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.082%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5267	0.0100	pay 0.0100% / 8h	4h 48m	$358.4M	$853.3M	100x
Short	Kraken Futures PF_XRPUSD	1.5230	−0.0077	pay 0.0010% / 1h	48m 30s	$13.6M	$68.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now −0.240%Rate

Funding earned: −$37.23
Price spread: −0.240% → +0.005%: −$24.52
Slippage, 4 orders: −$9.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$92.62
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Kraken Futures: live order book, 4 min ago.

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 Bybit live order book, 4 min ago	0.33 bp	6.2 bp −$6	7.3 bp −$73	13.9 bp −$1,386	28.7 bp −$14.3K
Sell Kraken Futures live order book, 4 min ago	0.33 bp	10.2 bp −$10	12.9 bp −$129	25.6 bp −$2,559	47.4 bp −$23.7K

XRP on 51 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	1.5360	+0.609%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSDshort	−0.0077%	1h	1.5230	−0.240%	$13.6M	$68.5M	50x
dYdX XRP-USD	0.0000%	1h	1.5286	+0.121%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5270	+0.020%	$68K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5230	−0.242%	$7.6M	$19.9M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5217	−0.326%	$241K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.919%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5279	+0.079%	$9K	$987	10x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5292	+0.166%	$17K	$68K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5286	+0.125%	$2.7M	$13.5M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5290	+0.151%	$590K	$3.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5231	−0.236%	$5.4M	$41.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5286	+0.121%	$477K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5264	−0.020%	$10K	$412K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5274	+0.049%	$848K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5286	+0.124%	$296.9M	$260.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5273	+0.039%	$38.8M	$79.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5287	+0.131%	$590K	$978K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5271	+0.026%	$531.4M	$2.02B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5267	long leg	$358.4M	$853.3M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5259	−0.052%	$123.9M	$816.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5273	+0.039%	$561K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5276	+0.059%	$160K	$693K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5312	+0.292%	$1.6M	$66K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5280	+0.085%	$375.6M	$156.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5288	+0.138%	$316.6M	$877.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5283	+0.106%	$104.0M	$179.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5267	0.000%	$269.5M	$346.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5277	+0.066%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5256	−0.069%	$4.9M	$37.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5262	−0.033%	$663K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5263	−0.026%	$1.1M	$32.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5270	+0.020%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5265	−0.012%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5268	+0.007%	$50K	$471K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5233	−0.222%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5226	−0.269%	$83K	$601K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5228	−0.258%	$819K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5221	−0.298%	$127K	$1.4M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5255	−0.079%	$30K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5221	−0.302%	$49.6M	$13.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5242	−0.164%	$54.5M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5267	+0.002%	$2.2M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5221	−0.298%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0109%	8h	1.5250	−0.111%	$1.9M	$35.6M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0132%	1h	1.5255	−0.079%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5236	−0.203%	$23.8M	$77.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5263	−0.029%	$1.3M	$1K	15x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0258% / S −0.0514%	1h	1.5228	−0.257%	$878K	—	200x	as long as short
RISEx XRP/USDC	+0.0300%	1h	1.5280	+0.083%	$506K	$723K	10x	as long as short
Aftermath Perps XRPUSD	+0.0384%	1h	1.5285	+0.115%	$3K	$13K	10x	as long as short