Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Ondo Perps−0.001%7-day average +0.065% · you buy dearer than you sell

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

Long on Ondo Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.035%+$4 on $10k

Price spread, last 4 days (all we have)+0.393%+$39 · spread now −0.001%, 7d avg +0.065%

Together, before fees+0.428%+ Points / potential airdropOndo Perps: Active · farm board+$43 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: KuCoin is 0.066% cheaper against Ondo Perps than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XRP-USD.P	1.5169	0.0100	pay 0.0013% / 1h	4m 53s	$565K	$28K	5x
Short	KuCoin XRPUSDTM	1.5169	0.0100	get 0.0100% / 8h	5h 04m	$108.6M	$172.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Ondo Perps. 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 Ondo PerpsbpFee KuCoinbpOrdersPrice spread, now −0.001%Rate

Funding earned: $0
Price spread: −0.001% → +0.065%: −$6.56
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$23.56
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Ondo Perps: no order-book sample; KuCoin: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	0.03 bp	9.9 bp −$10	12.3 bp −$123	34.2 bp −$3,419	doesn't fit

Ondo 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	1.5156	−0.086%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5145	−0.155%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5152	−0.112%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5149	−0.131%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0036%	1h	1.5150	−0.124%	$832K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.578%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5162	−0.046%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5150	−0.125%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5165	−0.028%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5164	−0.033%	$511K	$3.3M	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	1.5159	−0.066%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5159	−0.063%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5187	+0.119%	$282.0M	$223.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5170	+0.007%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5152	−0.113%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5172	+0.021%	$535.7M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5174	+0.033%	$346.3M	$930.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5174	+0.033%	$125.7M	$873.5M	100x	as long as short
Ondo Perps XRP-USD.Plong	+0.0100%	1h	1.5169	long leg	$565K	$28K	5x
Arcus XRP-USD	+0.0100%	1h	1.5160	−0.059%	$114K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.356%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5170	+0.007%	$368.9M	$154.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5171	+0.013%	$298.1M	$904.9M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5169	−0.001%	$108.6M	$172.1M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5178	+0.059%	$269.4M	$381.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5172	+0.020%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	−0.102%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5173	+0.025%	$659K	$107.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5183	+0.092%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5189	+0.132%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5160	−0.061%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5161	−0.053%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5159	−0.066%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5151	−0.116%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5157	−0.079%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5154	−0.099%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5153	−0.105%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5167	−0.013%	$53.9M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5152	−0.112%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5167	−0.016%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5149	−0.131%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0175%	1h	1.5175	+0.040%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5161	−0.051%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5158	−0.073%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5172	+0.020%	$5.7M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5167	−0.013%	$24.2M	$75.7M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5154	−0.097%	$14.4M	$73.5M	50x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5162	−0.046%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5165	−0.025%	$516K	$780K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.138%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0656%	1h	1.5186	+0.113%	$2K	$14K	10x	as long as short