Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h +0.024%

Price spread now: Kraken Futures against Orderly−0.030%7-day average +0.012% · you buy dearer than you sell

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

Long on Orderly Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now −0.030%, 7d avg +0.012%

Together, before fees+0.144%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Kraken Futures is 0.042% cheaper against Orderly than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.098%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5382	0.0058	pay 0.0058% / 8h	25m 38s	$76K	$910K	50x
Short	Kraken Futures PF_XRPUSD	1.5377	0.0032	get 0.0004% / 1h	25m 38s	$15.0M	$69.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$5.43
Price spread: −0.030% → +0.012%: −$4.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$25.61
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Kraken Futures: 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 Orderly no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 4 min ago	2.27 bp	8.8 bp −$9	13.0 bp −$130	23.1 bp −$2,306	47.2 bp −$23.6K

Orderly: 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	1.5379	−0.020%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5363	−0.120%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5420	+0.247%	$69K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5378	−0.024%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0098%	1h	1.5377	−0.030%	$831K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5381	−0.007%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSDshort	+0.0032%	1h	1.5377	−0.030%	$15.0M	$69.6M	50x
Orderly PERP_XRP_USDClong	+0.0058%	8h	1.5382	long leg	$76K	$910K	50x
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.157%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5369	−0.083%	$2.9M	$12.8M	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	1.5376	−0.039%	$438K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5362	−0.127%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5365	−0.109%	$39.1M	$81.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5369	−0.085%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5359	−0.149%	$546.9M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5356	−0.169%	$341.2M	$923.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5350	−0.208%	$125.1M	$879.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5382	0.000%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	−0.117%	$116K	$757K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.182%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5358	−0.156%	$361.0M	$147.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5363	−0.124%	$292.3M	$883.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5362	−0.128%	$109.8M	$164.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5357	−0.163%	$267.9M	$373.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5359	−0.150%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.018%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5405	+0.148%	$669K	$104.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.136%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5406	+0.156%	$1.0M	$900K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5385	+0.020%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5381	−0.006%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5380	−0.010%	$828K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5388	+0.041%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5380	−0.013%	$31K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5379	−0.021%	$50.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5384	+0.013%	$54.7M	$29.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5367	−0.095%	$479K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5389	+0.042%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5358	−0.156%	$11K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5355	−0.177%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5379	−0.022%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5359	−0.150%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5381	−0.008%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5416	+0.221%	$24.4M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5386	+0.026%	$5.8M	$47.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5406	+0.159%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0264%	1h	1.5385	+0.020%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0305%	8h	1.5404	+0.143%	$2.0M	$34.3M	2.9x	as long as short
Hyperliquid XRP	+0.0587%	1h	1.5392	+0.065%	$292.7M	$212.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5369	−0.083%	$499K	$635K	10x	as long as short
Aftermath Perps XRPUSD	+0.0786%	1h	1.5427	+0.293%	$1K	$11K	10x	as long as short