Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0006%/8h= −0.6% APRpaid last 24h −0.001%

Price spread now: Katana Perps against Extended−0.046%7-day average −0.006% · you buy dearer than you sell

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

Long on Extended Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.046%−$5 on $10k

Price spread, last 7 days−0.017%−$2 · spread now −0.046%, 7d avg −0.006%

Together, before fees−0.064%+ Points / potential airdropExtended: Active · farm board−$6 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 0.040% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XRP-USD	1.5241	0.0104	pay 0.0013% / 1h	30m 00s	$2.0M	$6.8M	50x
Short	Katana Perps XRP-USD	1.5234	0.0098	get 0.0098% / 8h	3h 30m	$10K	$347K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Extended. 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 ExtendedbpFee Katana PerpsbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$1.2
Price spread: −0.046% → −0.006%: −$4.02
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$14.02
Costs to cover: 0.088%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 4 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 Extended live order book, 4 min ago	0.33 bp	2.8 bp −$3	5.1 bp −$51	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	1.5251	+0.066%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5235	−0.041%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5236	−0.034%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5246	+0.033%	$7.8M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5239	−0.015%	$14.5M	$74.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.093%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0010%	1h	1.5236	−0.035%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5238	−0.020%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5240	−0.007%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USDshort	+0.0098%	8h	1.5234	−0.046%	$10K	$347K	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5227	−0.092%	$996K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5234	−0.046%	$38.6M	$85.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5235	−0.041%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5230	−0.069%	$536.6M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5230	−0.072%	$348.0M	$943.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5236	−0.033%	$127.4M	$889.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5212	−0.190%	$566K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5235	−0.039%	$134K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5212	−0.190%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5234	−0.046%	$370.7M	$154.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5233	−0.053%	$295.3M	$902.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5241	+0.002%	$109.5M	$177.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5234	−0.046%	$270.1M	$389.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5227	−0.092%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5245	+0.025%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5206	−0.233%	$660K	$109.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5216	−0.165%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	−0.217%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5235	−0.037%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5240	−0.007%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5236	−0.030%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5239	−0.013%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5243	+0.014%	$820K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5247	+0.040%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5238	−0.020%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5238	−0.022%	$49.8M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5236	−0.033%	$54.3M	$31.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5227	−0.093%	$475K	$55K	50x	as long as short
Extended XRP-USDlong	+0.0104%	1h	1.5241	long leg	$2.0M	$6.8M	50x
Aevo XRP-PERP	+0.0104%	1h	1.5239	−0.015%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5236	−0.033%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5245	+0.026%	$5.7M	$47.9M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5236	−0.034%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−0.059%	$24.2M	$76.3M	125x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5228	−0.083%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0289%	1h	1.5245	+0.026%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0357%	8h	1.5247	+0.039%	$2.0M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5233	−0.054%	$519K	$776K	10x	as long as short
Hyperliquid XRP	+0.0389%	1h	1.5253	+0.079%	$301.9M	$245.8M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5240	−0.007%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0681%	1h	1.5226	−0.101%	$2K	$15K	10x	as long as short