Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: SoDEX against Katana Perps+0.046%7-day average +0.012% · you sell dearer than you buy

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

Long on Katana Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 4 days (all we have)−0.571%−$57 · spread now +0.046%, 7d avg +0.012%

Together, before fees−0.553%−$55 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: SoDEX is 0.034% dearer against Katana Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5194	0.0100	pay 0.0100% / 8h	5h 29m	$10K	$308K	20x
Short	SoDEX XRP-USD	1.5201	0.0100	get 0.0013% / 1h	29m 55s	$28K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.046%Rate

Funding earned: $0.04
Price spread: +0.046% → +0.012%: $3.37
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$8.39
Costs to cover: 0.118%
Break-even: 1338.2 days

Slippage unknown: Katana Perps: no order-book sample; SoDEX: live order book, 4 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 SoDEX live order book, 4 min ago	0.33 bp	4.3 bp −$4	6.6 bp −$66	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	1.5193	−0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5209	+0.101%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5195	+0.006%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.409%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0043%	1h	1.5196	+0.016%	$821K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5201	+0.046%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5196	+0.013%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5204	+0.066%	$7.7M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5200	+0.040%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5203	+0.059%	$513K	$3.3M	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	1.5194	long leg	$10K	$308K	20x
Nado XRP-PERP	+0.0100%	1h	1.5203	+0.063%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5210	+0.105%	$281.9M	$221.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5202	+0.053%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5212	+0.118%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5189	−0.032%	$538.5M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5189	−0.033%	$344.9M	$927.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5190	−0.026%	$126.1M	$869.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5156	−0.250%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5205	+0.072%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.249%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5198	+0.026%	$370.5M	$152.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5189	−0.033%	$292.8M	$898.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5190	−0.024%	$107.8M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5188	−0.039%	$268.0M	$380.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5203	+0.059%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	+0.029%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.115%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5189	−0.034%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	−0.217%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5201	+0.048%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5202	+0.053%	$43K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5199	+0.033%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5197	+0.020%	$818K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5207	+0.082%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5201	+0.046%	$28K	$1.7M	10x
HTX XRP-USDT	+0.0100%	8h	1.5202	+0.050%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	+0.053%	$54.1M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5205	+0.074%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5184	−0.064%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5198	+0.027%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5208	+0.092%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5194	0.000%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5202	+0.053%	$5.6M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	+0.099%	$24.2M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5197	+0.021%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0272%	1h	1.5199	+0.032%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5217	+0.151%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5207	+0.085%	$518K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	−0.026%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0681%	1h	1.5178	−0.103%	$2K	$14K	10x	as long as short