Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.009%

Price spread now: Katana Perps against Orderly+0.151%7-day average −0.010% · you sell dearer than you buy

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

Long on Orderly Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.151%, 7d avg −0.010%

Together, before fees−0.062%−$6 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 0.161% dearer against Orderly than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5226	0.0100	pay 0.0100% / 8h	4h 48m	$83K	$601K	50x
Short	Katana Perps XRP-USD	1.5249	0.0100	get 0.0100% / 8h	4h 48m	$10K	$411K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Orderly. 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 OrderlybpFee Katana PerpsbpOrdersPrice spread, now +0.151%Rate

Funding earned: −$0.04
Price spread: +0.151% → −0.010%: $16.15
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $6.3
Costs to cover: 0.098%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Orderly and 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 exchanges

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	1.5360	+0.880%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0077%	1h	1.5230	+0.029%	$13.6M	$68.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5231	+0.032%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5270	+0.289%	$68K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5230	+0.026%	$7.6M	$19.9M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5217	−0.058%	$241K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.194%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5260	+0.223%	$9K	$987	10x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5292	+0.436%	$17K	$68K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5240	+0.095%	$2.7M	$13.5M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5243	+0.112%	$590K	$3.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5231	+0.033%	$5.4M	$41.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5246	+0.129%	$475K	$47K	50x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5249	+0.151%	$10K	$411K	20x
Nado XRP-PERP	+0.0100%	1h	1.5225	−0.003%	$846K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5259	+0.217%	$296.4M	$260.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5267	+0.271%	$38.8M	$79.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5241	+0.101%	$588K	$978K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5266	+0.264%	$531.3M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5275	+0.322%	$358.6M	$853.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5271	+0.296%	$123.9M	$816.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5273	+0.309%	$561K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5262	+0.236%	$160K	$693K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5312	+0.562%	$1.6M	$66K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5267	+0.269%	$375.4M	$156.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5264	+0.250%	$314.2M	$877.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5257	+0.201%	$103.7M	$179.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5265	+0.256%	$269.4M	$346.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5259	+0.217%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5256	+0.200%	$4.9M	$37.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5262	+0.236%	$663K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5263	+0.243%	$1.1M	$32.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5270	+0.289%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5257	+0.204%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5248	+0.144%	$50K	$471K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5233	+0.046%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDClong	+0.0100%	8h	1.5226	long leg	$83K	$601K	50x
Derive XRP-PERP	+0.0100%	1h	1.5228	+0.010%	$819K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5221	−0.030%	$127K	$1.4M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5255	+0.190%	$30K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5221	−0.033%	$49.6M	$13.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5242	+0.105%	$54.5M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5258	+0.212%	$2.2M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5221	−0.030%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0109%	8h	1.5250	+0.158%	$1.9M	$35.6M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0132%	1h	1.5255	+0.190%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5236	+0.066%	$23.8M	$77.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5244	+0.116%	$1.3M	$1K	15x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0258% / S −0.0514%	1h	1.5228	+0.011%	$878K	—	200x	as long as short
RISEx XRP/USDC	+0.0300%	1h	1.5263	+0.243%	$505K	$723K	10x	as long as short
Aftermath Perps XRPUSD	+0.0384%	1h	1.5285	+0.385%	$3K	$13K	10x	as long as short