Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0059%/8h= +6.4% APRpaid last 24h −0.063%

Price spread now: edgeX against Kraken Futures+0.166%76s7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$260.259% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.165%−$16 on $10k

Price spread, last 3 days (all we have)−0.206%−$21 · spread now +0.166%, 7d avg −0.025%

Together, before fees−0.371%+ Points / potential airdropedgeX: Active · farm board−$37 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and edgeX is 0.191% dearer against Kraken Futures than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.025%. Mind the row above: over the last 7 days funding on this pair cost −0.165%, so the current rate has only just turned in your favour. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5545	0.0041	pay 0.0005% / 1h	14m 04s	$15.5M	$68.6M	50x
Short	edgeX XRPUSDC	1.5570	0.0100	get 0.0050% / 4h	1h 14m	$676K	$102.5M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.166%Rate

Funding earned: $12.32
Price spread: +0.166% → −0.025%: $19.11
Slippage, 4 orders: −$6.92
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $5.51
Costs to cover: 0.259%
Break-even: 3.9 days

Slippage from Kraken Futures: live order book, 5 min ago; edgeX: live order book, 5 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	0.32 bp	5.9 bp −$6	10.6 bp −$106	20.7 bp −$2,069	39.3 bp −$19.6K
Sell edgeX live order book, 5 min ago	0.96 bp	5.5 bp −$5	5.5 bp −$55	8.7 bp −$868	doesn't fit

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	1.5547	+0.016%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0002% / S +0.0116%	1h	1.5535	−0.059%	$850K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5543	−0.011%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5544	−0.004%	$9.5M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5537	−0.049%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.099%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0041%	1h	1.5545	long leg	$15.5M	$68.6M	50x
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5540	−0.029%	$78K	$947K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5545	+0.003%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5547	+0.016%	$440K	$3.2M	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	1.5543	−0.007%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5543	−0.012%	$39.4M	$78.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5547	+0.018%	$640K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5540	−0.031%	$559.1M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5538	−0.042%	$346.0M	$901.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5539	−0.036%	$127.5M	$881.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5556	+0.073%	$579K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5543	−0.010%	$119K	$745K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	+0.142%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5544	−0.004%	$373.8M	$140.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5544	−0.004%	$300.9M	$862.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5542	−0.015%	$114.1M	$160.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5540	−0.029%	$271.6M	$364.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5546	+0.009%	—	$119.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5575	+0.193%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5570	+0.166%	$676K	$102.5M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5572	+0.174%	$1.1M	$41.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5581	+0.234%	$1.0M	$884K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5544	−0.007%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5542	−0.017%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5539	−0.036%	$42K	$65K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5541	−0.022%	$837K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5547	+0.015%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5542	−0.017%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5531	−0.086%	$51.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5543	−0.010%	$55.3M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5539	−0.033%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5541	−0.023%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5535	−0.060%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5539	−0.036%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5542	−0.017%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5538	−0.040%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5549	+0.028%	$5.9M	$47.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5550	+0.035%	$24.4M	$73.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5552	+0.050%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0292%	1h	1.5550	+0.035%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5552	+0.048%	$1.9M	$33.1M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5550	+0.035%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5549	+0.027%	$509K	$630K	10x	as long as short
Hyperliquid XRP	+0.0590%	1h	1.5562	+0.112%	$290.9M	$204.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0757%	1h	1.5556	+0.076%	$1K	$11K	10x	as long as short