Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0392%/8h= +42.9% APRpaid last 24h +0.021%

Price spread now: BloFin against Kraken Futures−0.014%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.106%+$11 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.014%, 7d avg +0.004%

Together, before fees+0.075%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.106% in total (about 5.5% 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	Kraken Futures PF_XRPUSD	1.5146	−0.0172	get 0.0022% / 1h	30m 45s	$14.7M	$74.5M	50x
Short	BloFin XRP-USDT	1.5144	0.0220	get 0.0220% / 8h	7h 30m	$23.7M	$77.4M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.014%Rate

Funding earned: $82.34
Price spread: −0.014% → +0.004%: −$1.8
Slippage, 4 orders: −$9.62
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $48.91
Costs to cover: 0.316%
Break-even: 2.8 days

Slippage from Kraken Futures: live order book, 3 min ago; BloFin: live order book, 3 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, 3 min ago	3.63 bp	9.7 bp −$10	12.3 bp −$123	22.8 bp −$2,282	53.8 bp −$26.9K
Sell BloFin live order book, 3 min ago	0.33 bp	6.3 bp −$6	6.3 bp −$63	8.1 bp −$806	17.9 bp −$8,945

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
Kraken Futures PF_XRPUSDlong	−0.0172%	1h	1.5146	long leg	$14.7M	$74.5M	50x
Hotstuff XRP-PERP	−0.0080%	1h	1.5143	−0.021%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.158%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5142	−0.026%	$246K	—	150x	as long as short
dYdX XRP-USD	+0.0010%	1h	1.5149	+0.019%	$1.1M	$157K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5148	+0.012%	$7.7M	$23.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.732%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5149	+0.021%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5146	−0.002%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5150	+0.026%	$617K	$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
Katana Perps XRP-USD	+0.0100%	8h	1.5142	−0.027%	$20K	$381K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5147	+0.002%	$990K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5144	−0.014%	$38.4M	$84.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5147	+0.008%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5145	−0.007%	$527.9M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5143	−0.021%	$352.6M	$939.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5141	−0.034%	$125.8M	$847.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5150	+0.026%	$556K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	+0.052%	$143K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	+0.362%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5142	−0.027%	$376.9M	$153.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5142	−0.027%	$310.6M	$917.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5143	−0.019%	$105.8M	$183.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5140	−0.041%	$267.7M	$380.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5142	−0.027%	—	$108.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5142	−0.027%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5161	+0.099%	$659K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5198	+0.342%	$1.1M	$33.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5155	+0.059%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5154	+0.050%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5149	+0.019%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5146	+0.001%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5145	−0.007%	$77K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5145	−0.010%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5152	+0.039%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5144	−0.014%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5146	−0.003%	$49.4M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5151	+0.032%	$54.0M	$32.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5149	+0.021%	$472K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5137	−0.057%	$2.1M	$6.7M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5149	+0.019%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5144	−0.015%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0119% / S −0.0085%	1h	1.5145	−0.010%	$785K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5150	+0.026%	$5.3M	$47.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5155	+0.059%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRP	+0.0177%	1h	1.5154	+0.052%	$289.6M	$267.9M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5156	+0.065%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5144	−0.014%	$23.7M	$77.4M	125x
Reya XRPRUSDPERP	+0.0221%	1h	1.5141	−0.032%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5149	+0.016%	$518K	$788K	10x	as long as short
Aftermath Perps XRPUSD	+0.0560%	1h	1.5183	+0.244%	$2K	$16K	10x	as long as short