Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h −0.023%

Price spread now: BingX against Kraken Futures+0.046%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.031%−$3 on $10k

Price spread, last 3 days (all we have)+0.130%+$13 · spread now +0.046%, 7d avg −0.004%

Together, before fees+0.099%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.050% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.004%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 2.4 days. At the pace of the last 7 days (−0.031% in total) that is about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5427	0.0169	pay 0.0021% / 1h	9m 21s	$15.7M	$65.3M	50x
Short	BingX XRP-USDT	1.5434	0.0100	get 0.0100% / 8h	2h 09m	—	$114.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$14.44
Price spread: +0.046% → −0.004%: $4.99
Slippage, 4 orders: −$16.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$45.78
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; BingX: live order book, 15 min ago.

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 Kraken Futures live order book, 5 min ago	2.26 bp	11.7 bp −$12	14.2 bp −$142	24.3 bp −$2,434	49.6 bp −$24.8K
Sell BingX live order book, 15 min ago	0.65 bp	6.3 bp −$6	7.4 bp −$74	9.5 bp −$952	18.9 bp −$9,467

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	1.5477	+0.324%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5451	+0.154%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.149%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5433	+0.039%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5432	+0.033%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.888%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5438	+0.072%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0169%	1h	1.5431	+0.028%	$909K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5431	+0.024%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5450	+0.149%	$447K	$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	1.5442	+0.101%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5439	+0.080%	$39.3M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5447	+0.130%	$675K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5432	+0.033%	$555.2M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5435	+0.052%	$347.8M	$851.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5432	+0.033%	$126.3M	$847.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5427	0.000%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5449	+0.143%	$120K	$686K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.289%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5434	+0.046%	$368.5M	$133.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5437	+0.065%	$291.8M	$820.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5441	+0.094%	$112.0M	$149.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5430	+0.020%	$267.3M	$346.4M	125x	as long as short
BingX XRP-USDTshort	+0.0100%	8h	1.5434	+0.046%	—	$114.7M	—
Variational Omni XRP	+0.0100%	8h	1.5487	+0.390%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	+0.238%	$671K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5471	+0.287%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5489	+0.402%	$1.0M	$878K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5442	+0.098%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5445	+0.117%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5435	+0.052%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5432	+0.031%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5450	+0.152%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5429	+0.013%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5420	−0.043%	$50.8M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5415	−0.078%	$55.1M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5443	+0.107%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5443	+0.104%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5429	+0.015%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5431	+0.029%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5450	+0.149%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0169%	1h	1.5427	long leg	$15.7M	$65.3M	50x
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5440	+0.084%	$5.6M	$45.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0203%	1h	1.5467	+0.260%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5436	+0.055%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5429	+0.013%	$24.2M	$68.5M	125x	as long as short
Kalshi KXXRPPERP	+0.0284%	8h	1.5490	+0.409%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5481	+0.351%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5453	+0.171%	$406K	$499K	10x	as long as short
Hyperliquid XRP	+0.0507%	1h	1.5455	+0.182%	$284.9M	$190.2M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5450	+0.147%	$1K	$11K	10x	as long as short