Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Katana Perps−0.077%54s7-day average +0.061% · you buy dearer than you sell

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

Long on Katana Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.036%+$4 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now −0.077%, 7d avg +0.061%

Together, before fees+0.114%+$11 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: ApeX Omni is 0.139% cheaper against Katana Perps than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.061%. The two prices were read 54 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	Katana Perps XRP-USD	1.5519	0.0101	pay 0.0101% / 8h	1h 06m	$11K	$261K	20x
Short	ApeX Omni XRPUSDT	1.5507	0.0100	get 0.0013% / 1h	6m 28s	$1.0M	$884K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Katana Perps. 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 Katana PerpsbpFee ApeX OmnibpOrdersPrice spread, now −0.077%Rate

Funding earned: −$0.14
Price spread: −0.077% → +0.061%: −$13.85
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$27.79
Costs to cover: 0.138%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; ApeX Omni: live order book, 3 min ago. 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 Katana Perps no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 3 min ago	1.29 bp	6.5 bp −$7	11.0 bp −$110	doesn't fit	doesn't fit

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	1.5513	−0.039%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L 0.0000% / S +0.0113%	1h	1.5494	−0.164%	$849K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5506	−0.081%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5504	−0.097%	$9.5M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5495	−0.155%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.264%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5505	−0.089%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5496	−0.148%	$76K	$909K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5516	−0.020%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5518	−0.006%	$443K	$3.2M	20x	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	1.5520	+0.005%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5516	−0.018%	$39.4M	$79.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5518	−0.008%	$639K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5522	+0.023%	$558.5M	$1.99B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5523	+0.026%	$346.5M	$903.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5522	+0.019%	$127.8M	$882.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5467	−0.335%	$576K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5522	+0.019%	$119K	$746K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	−0.114%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5519	0.000%	$363.7M	$143.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5518	−0.006%	$298.7M	$868.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5518	−0.009%	$113.4M	$160.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5523	+0.026%	$271.0M	$366.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5522	+0.019%	—	$119.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5501	−0.113%	$11.8M	$30.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5508	−0.070%	$673K	$101.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5513	−0.038%	$1.1M	$41.1M	20x	as long as short
ApeX Omni XRPUSDTshort	+0.0100%	1h	1.5507	−0.077%	$1.0M	$884K	50x
Polymarket Perps XRP-USD	+0.0100%	1h	1.5526	+0.045%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5496	−0.151%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5498	−0.136%	$834K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5503	−0.100%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5501	−0.116%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5488	−0.202%	$50.9M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5502	−0.110%	$55.1M	$29.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5514	−0.034%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5517	−0.014%	$484K	$54K	50x	as long as short
Katana Perps XRP-USDlong	+0.0101%	8h	1.5519	long leg	$11K	$261K	20x
Extended XRP-USD	+0.0104%	1h	1.5519	−0.003%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5496	−0.147%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5527	+0.052%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5521	+0.010%	$1.4M	$8K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5507	−0.077%	$6.0M	$47.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5499	−0.129%	$24.6M	$73.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5494	−0.159%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5515	−0.026%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0321%	8h	1.5485	−0.219%	$1.9M	$33.2M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5500	−0.122%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5534	+0.099%	$509K	$631K	10x	as long as short
Hyperliquid XRP	+0.0582%	1h	1.5539	+0.129%	$290.5M	$204.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0774%	1h	1.5510	−0.055%	$1K	$11K	10x	as long as short