Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h −0.022%

Price spread now: GRVT against Kraken Futures+0.015%7-day average −0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.015%, 7d avg −0.014%

Together, before fees+0.045%+ Points / potential airdropGRVT: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and GRVT is 0.029% dearer against Kraken Futures than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5172	−0.0071	get 0.0009% / 1h	20m 56s	$14.3M	$73.7M	50x
Short	GRVT XRP_USDT_Perp	1.5174	0.0100	get 0.0100% / 8h	4h 20m	$1.1M	$36.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.015%Rate

Funding earned: $35.84
Price spread: +0.015% → −0.014%: $2.88
Slippage, 4 orders: −$7.15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $12.57
Costs to cover: 0.261%
Break-even: 4.5 days

Slippage from Kraken Futures: live order book, 3 min ago; GRVT: 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	1.32 bp	6.3 bp −$6	11.4 bp −$114	20.4 bp −$2,037	39.1 bp −$19.6K
Sell GRVT live order book, 3 min ago	0.33 bp	5.5 bp −$6	13.4 bp −$134	54.6 bp −$5,460	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	1.5190	+0.120%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0071%	1h	1.5172	long leg	$14.3M	$73.7M	50x
dYdX XRP-USD	0.0000%	1h	1.5177	+0.031%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	+0.120%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5167	−0.031%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5177	+0.034%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.559%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0043% / S +0.0025%	1h	1.5166	−0.035%	$791K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0086%	8h	1.5169	−0.018%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5175	+0.022%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5175	+0.021%	$499K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5160	−0.078%	$11K	$326K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5171	−0.002%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5184	+0.081%	$280.9M	$226.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5171	−0.007%	$38.4M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5175	+0.019%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5178	+0.040%	$535.6M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5171	−0.005%	$347.6M	$934.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5172	+0.002%	$126.3M	$875.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5176	+0.028%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5169	−0.018%	$110K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5174	+0.015%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5169	−0.018%	$370.0M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5174	+0.015%	$291.3M	$901.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5175	+0.021%	$108.3M	$174.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5173	+0.008%	$268.5M	$384.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5178	+0.041%	—	$127.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5167	−0.033%	$5.1M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5172	+0.001%	$659K	$108.4M	30x	as long as short
GRVT XRP_USDT_Perpshort	+0.0100%	8h	1.5174	+0.015%	$1.1M	$36.0M	20x
ApeX Omni XRPUSDT	+0.0100%	1h	1.5192	+0.133%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5174	+0.012%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5172	+0.002%	$44K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5169	−0.018%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5170	−0.011%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5170	−0.010%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5176	+0.028%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5180	+0.054%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5173	+0.008%	$54.2M	$30.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5170	−0.014%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5172	−0.002%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5170	−0.012%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5168	−0.022%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0179%	1h	1.5180	+0.054%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5181	+0.061%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5185	+0.088%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5170	−0.011%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5169	−0.018%	$24.1M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5180	+0.054%	$2.1M	$34.5M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5170	−0.011%	$517K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0649%	1h	1.5175	+0.023%	$2K	$15K	10x	as long as short