Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Katana Perps+0.007%7-day average +0.040% · you sell dearer than you buy

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

Long on Katana Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.029%+$3 on $10k

Price spread, last 7 days+0.078%+$8 · spread now +0.007%, 7d avg +0.040%

Together, before fees+0.107%+$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: Gate is 0.033% cheaper against Katana Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5373	0.0100	pay 0.0100% / 8h	6h 20m	$10K	$397K	20x
Short	Gate XRP_USDT	1.5374	0.0100	get 0.0100% / 8h	6h 20m	$379.6M	$160.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.007%Rate

Funding earned: $0.04
Price spread: +0.007% → +0.040%: −$3.3
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$22.06
Costs to cover: 0.188%
Break-even: 3508.4 days

Slippage unknown: Katana Perps: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	0.32 bp	10.2 bp −$10	14.8 bp −$148	29.4 bp −$2,938	39.5 bp −$19.8K

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 50 exchanges

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	1.5382	+0.059%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5373	0.000%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5383	+0.065%	$7.9M	$21.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5377	+0.029%	$250K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5383	+0.066%	$14.1M	$72.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.216%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5383	+0.065%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5372	−0.010%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5377	+0.026%	$604K	$3.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5378	+0.032%	$17K	$77K	7x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0099%	8h	1.5374	+0.003%	$479K	$51K	50x	as long as short
Katana Perps XRP-USDlong	+0.0100%	8h	1.5373	long leg	$10K	$397K	20x
Nado XRP-PERP	+0.0100%	1h	1.5375	+0.016%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5376	+0.020%	$39.6M	$82.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5375	+0.011%	$589K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5372	−0.007%	$536.4M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5372	−0.007%	$363.3M	$902.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5369	−0.026%	$124.5M	$847.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5390	+0.111%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5384	+0.072%	$165K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5429	+0.364%	$1.6M	$8K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5374	+0.007%	$379.6M	$160.7M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5371	−0.013%	$313.7M	$915.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5375	+0.013%	$107.1M	$182.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5373	0.000%	$272.5M	$360.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5368	−0.033%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5373	+0.002%	$5.1M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5383	+0.065%	$668K	$110.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5374	+0.007%	$1.1M	$31.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5399	+0.169%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5379	+0.040%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5376	+0.020%	$53K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5372	−0.009%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5374	+0.007%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5395	+0.141%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5379	+0.039%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5384	+0.070%	$50.2M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5384	+0.072%	$54.9M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5368	−0.034%	$2.1M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5377	+0.028%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5385	+0.078%	$5.5M	$45.7M	50x	as long as short
Hyperliquid XRP	+0.0135%	1h	1.5391	+0.117%	$298.8M	$268.3M	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0153% / S −0.0125%	1h	1.5371	−0.011%	$801K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0156%	8h	1.5397	+0.156%	$1.9M	$34.2M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0208%	1h	1.5395	+0.143%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5383	+0.065%	$23.9M	$79.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5368	−0.030%	$1.4M	$2K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5383	+0.062%	$515K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0458%	1h	1.5382	+0.057%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5400	+0.176%	$69K	$109K	15x	as long as short