Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Katana Perps+0.045%7-day average +0.049% · you sell dearer than you buy

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

Long on Katana Perps Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 3 days (all we have)+0.426%+$43 · spread now +0.045%, 7d avg +0.049%

Together, before fees+0.456%+$46 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5404	0.0101	pay 0.0101% / 8h	2h 06m	$12K	$240K	20x
Short	Polymarket Perps XRP-USD	1.5411	0.0100	get 0.0013% / 1h	6m 26s	$50K	$452K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$0.21
Price spread: +0.045% → +0.049%: −$0.33
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$12.35
Costs to cover: 0.118%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Polymarket Perps: live order book, 16 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 Polymarket Perps live order book, 16 min ago	2.27 bp	6.9 bp −$7	9.8 bp −$98	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	1.5407	+0.019%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5403	−0.006%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.299%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5413	+0.058%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5405	+0.007%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.740%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0048%	8h	1.5408	+0.026%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0166%	1h	1.5405	+0.009%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5407	+0.017%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5409	+0.032%	$446K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5404	−0.003%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5407	+0.019%	$39.2M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5407	+0.019%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5407	+0.019%	$554.3M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5410	+0.039%	$346.6M	$852.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5409	+0.032%	$126.0M	$847.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	+0.032%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5423	+0.123%	$119K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.438%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5406	+0.013%	$367.5M	$134.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5405	+0.006%	$289.5M	$823.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5409	+0.031%	$112.0M	$149.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5407	+0.019%	$266.9M	$346.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5405	+0.006%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.540%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	+0.254%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	+0.003%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5437	+0.214%	$1.0M	$879K	50x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5411	+0.045%	$50K	$452K	20x
Bullet XRP-USD	+0.0100%	1h	1.5408	+0.025%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5408	+0.027%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5415	+0.074%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5405	+0.006%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5410	+0.036%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5405	+0.006%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5406	+0.010%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5405	+0.007%	—	$10K	10x	as long as short
Katana Perps XRP-USDlong	+0.0101%	8h	1.5404	long leg	$12K	$240K	20x
Extended XRP-USD	+0.0104%	1h	1.5402	−0.016%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5411	+0.043%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5412	+0.052%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5404	−0.002%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5421	+0.110%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5413	+0.058%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5406	+0.012%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5411	+0.045%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0300%	8h	1.5423	+0.123%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5416	+0.075%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5415	+0.073%	$405K	$498K	10x	as long as short
Hyperliquid XRP	+0.0512%	1h	1.5423	+0.123%	$284.1M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5427	+0.152%	$1K	$11K	10x	as long as short