Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Paradex against Katana Perps−0.064%7-day average +0.032% · you buy dearer than you sell

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

Long on Katana Perps Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now −0.064%, 7d avg +0.032%

Together, before fees+0.132%+ Points / potential airdropParadex: Active · farm board+$13 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: Paradex is 0.096% cheaper against Katana Perps than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5342	0.0100	pay 0.0100% / 8h	7h 27m	$10K	$279K	20x
Short	Paradex XRP-USD-PERP	1.5332	0.0100	get 0.0100% / 8h	7h 27m	$478K	$54K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.064%Rate

Funding earned: $0.04
Price spread: −0.064% → +0.032%: −$9.64
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$17.39
Costs to cover: 0.078%
Break-even: 2770.7 days

Slippage unknown: Katana Perps: no order-book sample; Paradex: live order book, 47 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 Paradex live order book, 47 min ago	4.89 bp	6.9 bp −$7	138.3 bp −$1,383	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	1.5340	−0.013%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5333	−0.058%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5334	−0.052%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0014% / S +0.0079%	1h	1.5333	−0.058%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.421%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5339	−0.020%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5340	−0.013%	$9.3M	$25.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5342	0.000%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5340	−0.015%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5340	−0.013%	$514K	$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
Katana Perps XRP-USDlong	+0.0100%	8h	1.5342	long leg	$10K	$279K	20x
Paradex XRP-USD-PERPshort	+0.0100%	8h	1.5332	−0.064%	$478K	$54K	50x
Nado XRP-PERP	+0.0100%	1h	1.5340	−0.010%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5345	+0.020%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5337	−0.033%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5337	−0.030%	$541.0M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5338	−0.026%	$342.0M	$919.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5341	−0.007%	$124.9M	$867.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	+0.020%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5339	−0.020%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.050%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5340	−0.013%	$374.3M	$149.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5342	0.000%	$312.6M	$904.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5344	+0.013%	$108.9M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5339	−0.020%	$268.4M	$374.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5337	−0.033%	—	$123.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	−0.090%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5322	−0.131%	$665K	$107.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.052%	$1.1M	$38.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5331	−0.072%	$1.2M	$996K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5347	+0.033%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5340	−0.013%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5341	−0.007%	$826K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5349	+0.045%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5338	−0.026%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5346	+0.026%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5338	−0.026%	$54.6M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5338	−0.028%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5336	−0.038%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5338	−0.026%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5340	−0.011%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5341	−0.007%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5344	+0.013%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5338	−0.027%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0292%	1h	1.5345	+0.020%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0309%	8h	1.5343	+0.007%	$2.1M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5337	−0.031%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0396%	1h	1.5357	+0.098%	$290.1M	$214.7M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5340	−0.013%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0805%	1h	1.5335	−0.045%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5345	+0.018%	$507K	$754K	10x	as long as short