Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h +0.080%

Price spread now: Katana Perps against GMX+0.076%45s7-day average −0.046% · you sell dearer than you buy

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

Long on GMX Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.160%+$16 on $10k

Price spread, last 3 days (all we have)−0.103%−$10 · spread now +0.076%, 7d avg −0.046%

Together, before fees+0.057%+$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Katana Perps is 0.122% dearer against GMX than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.046%. The two prices were read 45 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	GMX XRP/USD [ETH-USDC]	1.5178	L +0.0022% / S +0.0066%	pay 0.0003% / 1h	48m 28s	$832K	—	200x
Short	Katana Perps XRP-USD	1.5190	0.0100	get 0.0100% / 8h	6h 48m	$12K	$302K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against GMX. 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 GMXbpFee Katana PerpsbpOrdersPrice spread, now +0.076%Rate

Funding earned: $16.38
Price spread: +0.076% → −0.046%: $12.23
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $12.81
Costs to cover: 0.158%
Break-even: 1.5 days

Slippage unknown: GMX: no order-book sample; 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 GMX no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

GMX and 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	1.5210	+0.208%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5199	+0.137%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	+0.076%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5181	+0.017%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0022% / S +0.0066%	1h	1.5178	long leg	$832K	—	200x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.514%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5183	+0.033%	$14.7M	$72.2M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0067%	8h	1.5184	+0.037%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5186	+0.050%	$9.1M	$25.0M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5204	+0.169%	$2.8M	$14.0M	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	1.5206	+0.182%	$520K	$3.3M	20x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5190	+0.076%	$12K	$302K	20x
Nado XRP-PERP	+0.0100%	1h	1.5182	+0.024%	$881K	$5.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5209	+0.200%	$38.6M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5206	+0.179%	$613K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5197	+0.124%	$537.2M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5189	+0.070%	$337.6M	$937.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5188	+0.063%	$123.3M	$871.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.042%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5199	+0.136%	$115K	$722K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.162%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5205	+0.175%	$368.8M	$149.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5200	+0.142%	$295.2M	$897.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5199	+0.139%	$109.5M	$170.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5181	+0.017%	$265.1M	$383.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5196	+0.116%	—	$126.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	−0.074%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5148	−0.198%	$658K	$107.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5185	+0.041%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5168	−0.069%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5186	+0.050%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5196	+0.116%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5184	+0.035%	$41K	$70K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5186	+0.052%	$818K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5190	+0.076%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5186	+0.050%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5192	+0.087%	$49.8M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5194	+0.103%	$53.9M	$29.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5198	+0.126%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5190	+0.075%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5184	+0.037%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5201	+0.149%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0184%	1h	1.5192	+0.089%	$281.1M	$222.8M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5175	−0.021%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5189	+0.070%	$5.7M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.096%	$24.0M	$75.2M	125x	as long as short
Kalshi KXXRPPERP	+0.0328%	8h	1.5206	+0.182%	$2.1M	$36.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0336%	1h	1.5184	+0.040%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0400%	1h	1.5208	+0.195%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5203	+0.161%	$538K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0802%	1h	1.5186	+0.052%	$2K	$14K	10x	as long as short