Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0002%/8h= +0.2% APRpaid last 24h 0.000%

Price spread now: Bulk against Katana Perps−0.309%7-day average +0.054% · you buy dearer than you sell

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

Long on Katana Perps Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.026%+$3 on $10k

Price spread, last 7 days+0.388%+$39 · spread now −0.309%, 7d avg +0.054%

Together, before fees+0.415%+$41 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: Bulk is 0.363% cheaper against Katana Perps than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5228	0.0098	pay 0.0098% / 8h	3h 49m	$12K	$343K	20x
Short	Bulk XRP-USD	1.5181	0.0100	get 0.0013% / 1h	49m 55s	$1.6M	$49K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk 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 BulkbpOrdersPrice spread, now −0.309%Rate

Funding earned: $0.41
Price spread: −0.309% → +0.054%: −$36.26
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$46.65
Costs to cover: 0.108%
Break-even: 796.3 days

Slippage unknown: Katana Perps: no order-book sample; Bulk: live order book, 4 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 Bulk live order book, 4 min ago	0.33 bp	3.9 bp −$4	5.3 bp −$53	8.9 bp −$893	19.8 bp −$9,908

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	1.5244	+0.105%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5224	−0.028%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5219	−0.060%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5221	−0.046%	$7.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5220	−0.052%	$14.5M	$74.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.180%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0050% / S +0.0016%	1h	1.5219	−0.058%	$781K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5229	+0.009%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5225	−0.020%	$499K	$3.3M	20x	as long as short
Orderly PERP_XRP_USDC	+0.0097%	8h	1.5219	−0.059%	$62K	$934K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USDlong	+0.0098%	8h	1.5228	long leg	$12K	$343K	20x
Nado XRP-PERP	+0.0100%	1h	1.5225	−0.016%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5222	−0.040%	$38.5M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5230	+0.014%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5224	−0.026%	$535.1M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5223	−0.033%	$348.5M	$941.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5223	−0.033%	$127.6M	$887.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5232	+0.026%	$566K	$29K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5228	0.000%	$118K	$706K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5181	−0.309%	$1.6M	$49K	20x
Gate XRP_USDT	+0.0100%	8h	1.5227	−0.007%	$372.5M	$153.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5221	−0.046%	$289.8M	$898.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5225	−0.019%	$108.8M	$176.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5219	−0.059%	$269.6M	$388.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5224	−0.026%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5243	+0.097%	$4.8M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5193	−0.232%	$660K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5221	−0.048%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5206	−0.144%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5227	−0.009%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5225	−0.020%	$44K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5222	−0.036%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5221	−0.049%	$819K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5228	+0.001%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5220	−0.053%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5220	−0.050%	$49.8M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5226	−0.013%	$54.3M	$31.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5226	−0.011%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5217	−0.070%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5219	−0.059%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5227	−0.007%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5229	+0.007%	$5.7M	$47.5M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5222	−0.038%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5224	−0.026%	$24.2M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5248	+0.131%	$17K	$82K	7x	as long as short
Hyperliquid XRP	+0.0240%	1h	1.5243	+0.099%	$292.7M	$234.2M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0317%	1h	1.5239	+0.072%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0357%	8h	1.5230	+0.013%	$2.0M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5230	+0.011%	$519K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	−0.447%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0635%	1h	1.5198	−0.196%	$2K	$15K	10x	as long as short