Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h 0.000%

Price spread now: Katana Perps against Nado+0.088%7-day average −0.068% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Nado Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.031%−$3 on $10k

Price spread, last 7 days−0.106%−$11 · spread now +0.088%, 7d avg −0.068%

Together, before fees−0.138%+ Points / potential airdropNado: Active · farm board−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Katana Perps is 0.156% dearer against Nado than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.068%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XRP-PERP	1.5381	0.0100	pay 0.0012% / 1h	5m 30s	$1.1M	$5.3M	20x
Short	Katana Perps XRP-USD	1.5395	0.0101	get 0.0101% / 8h	2h 05m	$12K	$240K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Nado. 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 NadobpFee Katana PerpsbpOrdersPrice spread, now +0.088%Rate

Funding earned: $0.21
Price spread: +0.088% → −0.068%: $15.62
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $5.03
Costs to cover: 0.108%
Break-even: from the start

Slippage unknown: Nado: live order book, 3 min ago; Katana Perps: no order-book sample. Net counts fees only.

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 Nado live order book, 3 min ago	0.32 bp	4.1 bp −$4	8.9 bp −$89	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5409	+0.179%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5395	+0.089%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.445%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5405	+0.153%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5414	+0.211%	$9.4M	$24.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.595%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0048%	8h	1.5408	+0.172%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0166%	1h	1.5405	+0.155%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5399	+0.115%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5401	+0.127%	$445K	$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-PERPlong	+0.0100%	1h	1.5381	long leg	$1.1M	$5.3M	20x
Aster XRPUSDT	+0.0100%	8h	1.5392	+0.070%	$39.2M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5396	+0.094%	$672K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5388	+0.044%	$553.7M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5384	+0.016%	$346.2M	$853.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5382	+0.003%	$125.9M	$846.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	+0.179%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5415	+0.218%	$120K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.585%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5391	+0.062%	$367.1M	$134.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5393	+0.075%	$288.4M	$824.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5392	+0.065%	$112.0M	$149.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5382	+0.003%	$266.7M	$346.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5389	+0.049%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.687%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	+0.401%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	+0.149%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5410	+0.185%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5389	+0.046%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5387	+0.036%	$49K	$437K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5408	+0.172%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5406	+0.162%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5410	+0.187%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5411	+0.192%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5406	+0.157%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5416	+0.224%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5392	+0.070%	$480K	$54K	50x	as long as short
Katana Perps XRP-USDshort	+0.0101%	8h	1.5395	+0.088%	$12K	$240K	20x
Extended XRP-USD	+0.0104%	1h	1.5389	+0.046%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5408	+0.174%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5395	+0.088%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5412	+0.195%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5415	+0.218%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5417	+0.231%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5380	−0.007%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5411	+0.192%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0301%	8h	1.5415	+0.218%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5416	+0.221%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5400	+0.119%	$405K	$498K	10x	as long as short
Hyperliquid XRP	+0.0512%	1h	1.5419	+0.244%	$284.0M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5427	+0.299%	$1K	$11K	10x	as long as short