Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h +0.030%

Price spread now: Katana Perps against dYdX+0.020%7-day average −0.022% · you sell dearer than you buy

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

Long on dYdX Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.071%+$7 on $10k

Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.020%, 7d avg −0.022%

Together, before fees+0.035%+$4 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 Katana Perps is 0.042% dearer against dYdX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5411	0	get 0.0000% / 1h	7m 40s	$1.1M	$101K	10x
Short	Katana Perps XRP-USD	1.5414	0.0101	get 0.0101% / 8h	2h 07m	$12K	$239K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against dYdX. 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 dYdXbpFee Katana PerpsbpOrdersPrice spread, now +0.020%Rate

Funding earned: $21.21
Price spread: +0.020% → −0.022%: $4.19
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $11.6
Costs to cover: 0.138%
Break-even: 3.2 days

Slippage unknown: dYdX: live order book, 1 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 dYdX live order book, 1 min ago	15.24 bp	20.2 bp −$20	20.2 bp −$202	20.2 bp −$2,024	62.3 bp −$31.2K
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	1.5416	+0.033%	$7K	$2K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5411	long leg	$1.1M	$101K	10x
Phoenix XRP	0.0000%	1h	1.5450	+0.253%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5415	+0.026%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5410	−0.004%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.785%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5415	+0.026%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0168%	1h	1.5410	−0.008%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5415	+0.025%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5416	+0.033%	$446K	$3.1M	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	1.5422	+0.075%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5422	+0.071%	$39.3M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5415	+0.026%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5412	+0.005%	$554.5M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5412	+0.007%	$346.6M	$852.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5412	+0.007%	$126.2M	$847.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	−0.013%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5422	+0.072%	$119K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.393%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5409	−0.013%	$368.5M	$134.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5410	−0.006%	$291.7M	$822.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5411	0.000%	$112.1M	$149.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5411	0.000%	$267.0M	$346.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5411	0.000%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.494%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	+0.342%	$671K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5471	+0.391%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5489	+0.506%	$1.0M	$878K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5416	+0.034%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5416	+0.033%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5412	+0.007%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5410	−0.005%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5417	+0.042%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5411	0.000%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5413	+0.013%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5410	−0.006%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5410	−0.005%	$480K	$54K	50x	as long as short
Katana Perps XRP-USDshort	+0.0101%	8h	1.5414	+0.020%	$12K	$239K	20x
Extended XRP-USD	+0.0104%	1h	1.5408	−0.016%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5412	+0.004%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5421	+0.065%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5411	−0.002%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5431	+0.130%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0198%	1h	1.5429	+0.117%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5412	+0.008%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5429	+0.117%	$24.2M	$68.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5481	+0.455%	$19K	$66K	7x	as long as short
Kalshi KXXRPPERP	+0.0300%	8h	1.5423	+0.078%	$1.8M	$32.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5421	+0.067%	$405K	$499K	10x	as long as short
Hyperliquid XRP	+0.0509%	1h	1.5439	+0.179%	$284.4M	$190.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0544%	1h	1.5436	+0.165%	$1K	$11K	10x	as long as short