Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h −0.017%

Price spread now: Bybit against Kraken Futures−0.057%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.096%+$10 · spread now −0.057%, 7d avg −0.007%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.050% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.057% now, against its 7-day average of −0.007%). If the spread goes back, that is −$5 on $10k: about 7.6 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.082%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5212	0.0078	pay 0.0010% / 1h	39m 45s	$14.6M	$73.8M	50x
Short	Bybit XRPUSDT	1.5203	0.0100	get 0.0100% / 8h	39m 45s	$350.1M	$956.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.057%Rate

Funding earned: $4.65
Price spread: −0.057% → −0.007%: −$5.04
Slippage, 4 orders: −$8.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.11
Costs to cover: 0.297%
Break-even: 52.3 days

Slippage from Kraken Futures: live order book, 4 min ago; Bybit: live order book, 4 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, 4 min ago	0.33 bp	6.5 bp −$6	11.1 bp −$111	20.7 bp −$2,070	42.1 bp −$21.0K
Sell Bybit live order book, 4 min ago	0.33 bp	7.6 bp −$8	9.0 bp −$90	15.0 bp −$1,505	27.4 bp −$13.7K

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	1.5226	+0.094%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5233	+0.143%	$1.1M	$148K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5220	+0.055%	$7.8M	$24.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5219	+0.047%	$246K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.290%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0078%	1h	1.5212	long leg	$14.6M	$73.8M	50x
Lighter XRP	+0.0096%	1h	1.5202	−0.065%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5204	−0.050%	$601K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5214	+0.015%	$12K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5223	+0.074%	$1.0M	$6.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XRPUSDT	+0.0100%	8h	1.5212	+0.002%	$38.6M	$86.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5228	+0.109%	$614K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5204	−0.053%	$532.6M	$2.22B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5203	−0.057%	$350.1M	$956.4M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5205	−0.044%	$128.2M	$874.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5224	+0.081%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5227	+0.101%	$145K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5191	−0.139%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5206	−0.037%	$379.1M	$160.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5208	−0.024%	$314.8M	$920.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5211	−0.003%	$106.9M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5197	−0.097%	$268.6M	$391.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5202	−0.064%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	+0.091%	$5.0M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5232	+0.132%	$663K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	+0.262%	$1.1M	$35.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	+0.245%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5227	+0.103%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5220	+0.055%	$50K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	+0.040%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5216	+0.028%	$78K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5218	+0.043%	$819K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5235	+0.157%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5212	+0.002%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5238	+0.173%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5215	+0.022%	$54.4M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5230	+0.118%	$475K	$55K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0100% / S −0.0059%	1h	1.5218	+0.039%	$785K	—	200x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5204	−0.048%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5214	+0.015%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5220	+0.055%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5250	+0.249%	$17K	$78K	7x	as long as short
Hyperliquid XRP	+0.0145%	1h	1.5219	+0.048%	$290.3M	$267.5M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0169%	1h	1.5221	+0.061%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5223	+0.074%	$5.7M	$48.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0199%	8h	1.5228	+0.107%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5208	−0.024%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5238	+0.173%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5221	+0.062%	$524K	$806K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5260	+0.318%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0631%	1h	1.5231	+0.124%	$2K	$16K	10x	as long as short