Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h +0.020%

Price spread now: Kraken Futures against HTX+0.009%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now +0.009%, 7d avg +0.048%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Kraken Futures is 0.038% cheaper against HTX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.048%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5113	0.0100	pay 0.0100% / 8h	2h 52m	$49.4M	$15.8M	75x
Short	Kraken Futures PF_XRPUSD	1.5114	−0.0001	pay 0.0000% / 1h	52m 29s	$14.3M	$75.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$21.22
Price spread: +0.009% → +0.048%: −$3.85
Slippage, 4 orders: −$15.47
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$62.54
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from HTX: live order book, 2 min ago; Kraken Futures: live order book, 2 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 HTX live order book, 2 min ago	1.75 bp	10.7 bp −$11	12.6 bp −$126	32.1 bp −$3,206	136.2 bp −$68.1K
Sell Kraken Futures live order book, 2 min ago	1.99 bp	9.2 bp −$9	12.4 bp −$124	22.5 bp −$2,249	47.8 bp −$23.9K

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	1.5117	+0.028%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDshort	−0.0001%	1h	1.5114	+0.009%	$14.3M	$75.1M	50x
dYdX XRP-USD	0.0000%	1h	1.5118	+0.034%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5120	+0.048%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5117	+0.028%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5108	−0.033%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.960%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5127	+0.095%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5108	−0.029%	$792K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5120	+0.051%	$2.8M	$14.8M	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	1.5121	+0.055%	$497K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5118	+0.035%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5113	+0.005%	$941K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5127	+0.095%	$291.0M	$257.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5122	+0.058%	$38.7M	$86.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5122	+0.064%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5123	+0.066%	$532.0M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5123	+0.068%	$342.2M	$949.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5123	+0.068%	$125.3M	$888.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5124	+0.075%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5130	+0.114%	$137K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	+0.008%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5125	+0.081%	$372.5M	$155.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5123	+0.068%	$294.5M	$904.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5118	+0.036%	$107.8M	$179.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5124	+0.075%	$268.5M	$392.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5120	+0.048%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	+0.173%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5113	0.000%	$656K	$111.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	+0.164%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	+0.227%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5109	−0.024%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5112	−0.005%	$50K	$490K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5111	−0.013%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5109	−0.024%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5108	−0.032%	$813K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5113	+0.005%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5113	+0.002%	$28K	$1.7M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5113	long leg	$49.4M	$15.8M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5118	+0.035%	$53.9M	$31.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5125	+0.084%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5121	+0.054%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5110	−0.018%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0159%	8h	1.5113	+0.002%	$1.8M	$35.5M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0183%	1h	1.5125	+0.081%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5116	+0.022%	$5.7M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5109	−0.023%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5115	+0.015%	$24.2M	$75.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5109	−0.022%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5129	+0.105%	$516K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0644%	1h	1.5120	+0.045%	$2K	$15K	10x	as long as short