XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0082%/8h= −9.0% APRnext payment −$0.10 per $10,000 · paid last 24h −0.072%

Price spread now: Kraken Futures against Hyperliquid−0.042%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 4 days (all we have)−0.054%−$5 · spread now −0.042%, 7d avg −0.067%

Together, before fees−0.145%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.025% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.042% now, against its 7-day average of −0.067%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5250	0.0160	pay 0.0020% / 1h	41m 55s	$290.9M	$268.1M	20x
Short	Kraken Futures PF_XRPUSD	1.5244	0.0078	get 0.0010% / 1h	41m 55s	$14.6M	$73.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Hyperliquid. 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 HyperliquidbpFee Kraken FuturesbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$17.31
Price spread: −0.042% → −0.067%: $2.5
Slippage, 4 orders: −$8.18
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$41.99
Costs to cover: 0.272%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 12 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 Hyperliquid live order book, 12 min ago	0.33 bp	4.8 bp −$5	4.9 bp −$49	9.7 bp −$975	doesn't fit
Sell Kraken Futures live order book, 2 min ago	0.33 bp	9.7 bp −$10	13.2 bp −$132	21.5 bp −$2,154	44.0 bp −$22.0K

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	1.5241	−0.059%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5242	−0.051%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5248	−0.012%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5252	+0.013%	$7.9M	$24.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.033%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSDshort	+0.0078%	1h	1.5244	−0.042%	$14.6M	$73.8M	50x
Lighter XRP	+0.0096%	1h	1.5247	−0.017%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5246	−0.026%	$602K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5239	−0.072%	$10K	$372K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0100% / S −0.0058%	1h	1.5250	−0.003%	$787K	—	200x	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	1.5242	−0.049%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5242	−0.051%	$38.7M	$87.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5249	−0.007%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5237	−0.085%	$533.7M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5235	−0.098%	$350.8M	$957.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5237	−0.085%	$128.5M	$877.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5226	−0.157%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5253	+0.020%	$145K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5191	−0.390%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5243	−0.046%	$380.0M	$160.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5232	−0.118%	$315.0M	$920.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5239	−0.073%	$107.4M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5234	−0.105%	$269.5M	$392.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5242	−0.052%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5239	−0.075%	$4.9M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5231	−0.128%	$662K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	+0.011%	$1.1M	$35.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−0.007%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5251	+0.004%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5255	+0.033%	$50K	$511K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5249	−0.006%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5247	−0.020%	$78K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5238	−0.078%	$820K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5258	+0.055%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	−0.046%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5256	+0.037%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5248	−0.013%	$54.5M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5250	+0.001%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5227	−0.148%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5247	−0.020%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5248	−0.013%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5234	−0.106%	$17K	$78K	7x	as long as short
Hyperliquid XRPlong	+0.0160%	1h	1.5250	long leg	$290.9M	$268.1M	20x
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5251	+0.007%	$5.7M	$48.5M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0184%	1h	1.5252	+0.013%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0204%	8h	1.5237	−0.085%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5249	−0.006%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5227	−0.151%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5256	+0.043%	$529K	$804K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5260	+0.066%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0645%	1h	1.5235	−0.097%	$2K	$16K	10x	as long as short