Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.054%

Price spread now: Katana Perps against Hotstuff0.000%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5300	−0.0080	get 0.0010% / 1h	38m 29s	$7K	$2K	20x
Short	Katana Perps XRP-USD	1.5300	0.0100	get 0.0100% / 8h	7h 38m	$10K	$278K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Hotstuff. 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 HotstuffbpFee Katana PerpsbpOrdersPrice spread, now 0.000%Rate

Funding earned: $37.76
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $28.96
Costs to cover: 0.088%
Break-even: 1.6 days

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

Hotstuff 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-PERPlong	−0.0080%	1h	1.5300	long leg	$7K	$2K	20x
dYdX XRP-USD	0.0000%	1h	1.5292	−0.054%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5292	−0.052%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0012% / S +0.0083%	1h	1.5296	−0.023%	$839K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5295	−0.033%	$9.3M	$25.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.699%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5296	−0.026%	$58K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5295	−0.030%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5302	+0.013%	$511K	$3.2M	20x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5300	0.000%	$10K	$278K	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5305	+0.032%	$477K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5297	−0.016%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5296	−0.026%	$38.7M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5301	+0.007%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5301	+0.004%	$538.5M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5298	−0.013%	$340.7M	$923.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5299	−0.007%	$124.6M	$870.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5328	+0.183%	$570K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5308	+0.052%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.027%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5305	+0.033%	$373.0M	$149.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5305	+0.033%	$305.6M	$900.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5305	+0.035%	$108.4M	$166.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5301	+0.007%	$267.6M	$375.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5304	+0.026%	—	$123.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5316	+0.105%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5315	+0.101%	$665K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5336	+0.235%	$1.1M	$39.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5315	+0.098%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5300	−0.002%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5304	+0.026%	$49K	$443K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5300	+0.001%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5298	−0.016%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5309	+0.058%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5294	−0.039%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5291	−0.058%	$50.2M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5296	−0.026%	$54.4M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5300	+0.002%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5294	−0.041%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5290	−0.065%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5299	−0.006%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5294	−0.039%	$24.0M	$74.1M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5300	0.000%	$5.8M	$46.2M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5291	−0.058%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0275%	1h	1.5306	+0.039%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5321	+0.138%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5321	+0.137%	$2.0M	$35.1M	2.9x	as long as short
Hyperliquid XRP	+0.0399%	1h	1.5305	+0.033%	$289.0M	$214.3M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.327%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0778%	1h	1.5317	+0.114%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5304	+0.028%	$506K	$755K	10x	as long as short