Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0446%/8h= +48.8% APRpaid last 24h −0.070%

Price spread now: GMX against Katana Perps+0.040%7-day average +0.039% · you sell dearer than you buy

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

Long on Katana Perps Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.226%−$23 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now +0.040%, 7d avg +0.039%

Together, before fees−0.229%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.039%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.226%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5350	0.0100	pay 0.0100% / 8h	5h 52m	$10K	$400K	20x
Short	GMX XRP/USD [ETH-USDC]	1.5356	L +0.0202% / S −0.0545%	get 0.0068% / 1h	52m 58s	$806K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $93.58
Price spread: +0.040% → +0.039%: $0.17
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee GMX: 6 bp × 2 orders: −$12
Net: $77.95
Costs to cover: 0.158%
Break-even: 1.2 days

Slippage unknown: Katana Perps: no order-book sample; GMX: no order-book sample. 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 GMX no order-book sample	—	—	—	—	—

Katana Perps and GMX: 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	1.5403	+0.345%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5362	+0.078%	$14.1M	$71.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5362	+0.076%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5360	+0.065%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5363	+0.085%	$7.8M	$21.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5357	+0.044%	$246K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5352	+0.013%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.368%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0060%	1h	1.5359	+0.059%	$30K	$1.5M	10x	as long as short
Ondo Perps XRP-USD.P	+0.0074%	1h	1.5365	+0.098%	$565K	$37K	5x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5360	+0.065%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5361	+0.072%	$600K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5358	+0.054%	$479K	$47K	50x	as long as short
Katana Perps XRP-USDlong	+0.0100%	8h	1.5350	long leg	$10K	$400K	20x
Nado XRP-PERP	+0.0100%	1h	1.5351	+0.010%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5365	+0.100%	$299.5M	$266.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5352	+0.011%	$39.4M	$81.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5358	+0.052%	$594K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5348	−0.010%	$535.4M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5348	−0.013%	$363.1M	$890.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5347	−0.020%	$124.9M	$838.4M	100x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5360	+0.065%	$165K	$684K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5379	+0.189%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5356	+0.039%	$383.2M	$155.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5337	−0.085%	$312.6M	$887.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5360	+0.066%	$106.8M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5346	−0.026%	$272.3M	$357.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5355	+0.033%	—	$4.2M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5365	+0.098%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5375	+0.160%	$5.0M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5375	+0.164%	$668K	$109.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5368	+0.117%	$1.1M	$30.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5372	+0.143%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5359	+0.059%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5354	+0.026%	$52K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5356	+0.039%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5359	+0.059%	$84K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5357	+0.048%	$129K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5347	−0.018%	$50.0M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5360	+0.065%	$54.7M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5336	−0.088%	$2.2M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5354	+0.027%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5360	+0.065%	$5.5M	$44.5M	50x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5358	+0.050%	$17K	$76K	7x	as long as short
Kalshi KXXRPPERP	+0.0139%	8h	1.5365	+0.098%	$1.9M	$35.0M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0202% / S −0.0545%	1h	1.5356	+0.040%	$806K	—	200x
BloFin XRP-USDT	+0.0220%	8h	1.5358	+0.052%	$23.9M	$78.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5351	+0.006%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5360	+0.068%	$516K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0431%	1h	1.5381	+0.204%	$3K	$13K	10x	as long as short