Funding you earn now, next payment 23:00 UTC+0.0503%/8h= +55.0% APRpaid last 24h +0.069%
Price spread now: Hyperliquid against Katana Perps−0.013%7-day average +0.081% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)+0.127%+$13 on $10k
+Price spread, last 7 days−0.004%$0 · spread now −0.013%, 7d avg +0.081%
=Together, before fees+0.124%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour
Funding pays, the price is against you. Hyperliquid is 0.094% cheaper against Katana Perps than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.081%). If the spread goes back, that is −$9 on $10k: about 15 hours of funding at the current rate (+$15 a day). At the pace of the last 4 days (+0.127% in total) that is about 2.6 days.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.127% in total (about 12.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Katana Perps XRP-USD | 1.5578 | 0.0101 | pay 0.0101% / 8h | 1h 35m | $12K | $249K | 20x |
| Short | Hyperliquid XRP | 1.5576 | 0.0603 | get 0.0075% / 1h | 35m 05s | $290.8M | $200.0M | 20x |
Katana Perps XRP-USD
Hyperliquid XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $105.56
- Price spread: −0.013% → +0.081%
- −$9.36
- Slippage, 4 orders
- no order book: not counted
- Fee Katana Perps: 1.9 bp × 2 orders
- −$3.8
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- $83.41
- Costs to cover
- 0.128%
- Break-even
- 1.5 days
Slippage unknown: Katana Perps: no order-book sample; Hyperliquid: live order book, 9 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 Hyperliquid live order book, 9 min ago | 0.32 bp | 4.8 bp −$5 | 5.3 bp −$53 | 9.8 bp −$977 | 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 | 1.5603 | +0.160% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5544 | −0.217% | $1.1M | $104K | 10x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5577 | −0.003% | $261K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0007% | 1h | 1.5574 | −0.026% | $9.6M | $25.2M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5290 | −1.849% | $2K | $86K | 30x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0041% | 1h | 1.5561 | −0.109% | $15.5M | $68.1M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0053% | 8h | 1.5577 | −0.006% | $78K | $941K | 50x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0082% / S +0.0131% | 1h | 1.5576 | −0.013% | $918K | — | 200x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5567 | −0.070% | $3.0M | $12.0M | 20x | as long as short |
| Lighter RH XRP | +0.0096% | 1h | 1.5566 | −0.077% | $456K | $3.1M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
Deribit XRP_USDC-PERPETUAL
Injective XRP/USDC PERP
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
GMX XRP/USD [ETH-USDC]
Lighter XRP
Lighter RH XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5576 | −0.010% | $1.1M | $5.4M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5554 | −0.153% | $39.5M | $76.9M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5554 | −0.151% | $671K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5551 | −0.173% | $560.0M | $1.95B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5555 | −0.148% | $348.9M | $882.6M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5554 | −0.154% | $127.4M | $872.3M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5561 | −0.109% | $580K | $41K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5574 | −0.026% | $119K | $732K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5683 | +0.674% | $1.7M | $616K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5558 | −0.128% | $373.9M | $138.2M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5560 | −0.116% | $292.2M | $839.3M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5561 | −0.107% | $114.3M | $157.5M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5554 | −0.154% | $270.6M | $358.4M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5569 | −0.058% | — | $3.7M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5595 | +0.107% | $11.8M | $30.1M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5600 | +0.139% | $677K | $100.3M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5597 | +0.122% | $1.1M | $41.5M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5645 | +0.430% | $1.0M | $880K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5572 | −0.037% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5585 | +0.045% | $46K | $445K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5576 | −0.013% | $42K | $64K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5578 | −0.001% | $839K | $79K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5567 | −0.073% | $130K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5564 | −0.090% | $32K | $1.9M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5567 | −0.069% | $51.1M | $15.3M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5561 | −0.109% | $55.4M | $29.1M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5552 | −0.169% | $485K | $54K | 50x | as long as short |
| Katana Perps XRP-USDlong | +0.0101% | 8h | 1.5578 | long leg | $12K | $249K | 20x | |
| Extended XRP-USD | +0.0104% | 1h | 1.5553 | −0.162% | $2.2M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5574 | −0.026% | $73K | $40K | 3x | as long as short |
| Hibachi XRP/USDT-P | +0.0136% | 1h | 1.5609 | +0.197% | $18K | $81K | 7x | as long as short |
| 01 Exchange XRPUSD | +0.0160% | 1h | 1.5581 | +0.019% | $8K | $8K | 10x | as long as short |
| Reya XRPRUSDPERP | +0.0211% | 1h | 1.5580 | +0.012% | $1.4M | $9K | 15x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0216% | 1h | 1.5576 | −0.013% | $5.8M | $46.8M | 50x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5551 | −0.173% | $24.5M | $73.2M | 125x | as long as short |
| Backpack XRP_USDC_PERP | +0.0282% | 1h | 1.5571 | −0.045% | $1.8M | $978K | 25x | as long as short |
| Kalshi KXXRPPERP | +0.0317% | 8h | 1.5564 | −0.090% | $1.9M | $32.4M | 2.9x | as long as short |
| Phoenix XRP | +0.0516% | 1h | 1.5600 | +0.141% | $69K | $90K | 15x | as long as short |
| RISEx XRP/USDC | +0.0527% | 1h | 1.5585 | +0.046% | $509K | $620K | 10x | as long as short |
| Hyperliquid XRPshort | +0.0603% | 1h | 1.5576 | −0.013% | $290.8M | $200.0M | 20x | |
| Aftermath Perps XRPUSD | +0.0692% | 1h | 1.5621 | +0.276% | $1K | $11K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
Hibachi XRP/USDT-P
01 Exchange XRPUSD
Reya XRPRUSDPERP
Coinbase International XRP-PERP-INTX
BloFin XRP-USDT
Backpack XRP_USDC_PERP
Kalshi KXXRPPERP
Phoenix XRP
RISEx XRP/USDC
Aftermath Perps XRPUSD