Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Katana Perps against Pacifica−0.060%7-day average −0.034% · you buy dearer than you sell

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

Long on Pacifica Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.060%, 7d avg −0.034%

Together, before fees−0.034%+ Points / potential airdropPacifica: Active · farm board−$3 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 0.026% cheaper against Pacifica than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XRP	1.5193	0.0100	pay 0.0013% / 1h	25m 29s	$610K	$1.1M	20x
Short	Katana Perps XRP-USD	1.5184	0.0100	get 0.0100% / 8h	6h 25m	$11K	$307K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Pacifica. 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 PacificabpFee Katana PerpsbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$0.04
Price spread: −0.060% → −0.034%: −$2.62
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$14.47
Costs to cover: 0.118%
Break-even: never at this rate

Slippage unknown: Pacifica: 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 Pacifica live order book, 3 min ago	0.99 bp	6.4 bp −$6	doesn't fit	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 50 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	1.5195	+0.012%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5185	−0.056%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.111%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5197	+0.025%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0059%	1h	1.5197	+0.024%	$803K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.415%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5203	+0.063%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5203	+0.065%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5198	+0.033%	$2.8M	$14.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5200	+0.045%	$518K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USDshort	+0.0100%	8h	1.5184	−0.060%	$11K	$307K	20x
Nado XRP-PERP	+0.0100%	1h	1.5187	−0.037%	$896K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5197	+0.026%	$38.7M	$84.2M	100x	as long as short
Pacifica XRPlong	+0.0100%	1h	1.5193	long leg	$610K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5199	+0.037%	$539.1M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5198	+0.032%	$342.2M	$940.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5204	+0.071%	$124.7M	$874.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.126%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5198	+0.032%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.024%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5196	+0.019%	$369.7M	$152.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5199	+0.039%	$291.8M	$912.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5199	+0.038%	$107.4M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5200	+0.045%	$266.6M	$383.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5193	−0.001%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5199	+0.038%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5184	−0.063%	$659K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5181	−0.079%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5179	−0.093%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5199	+0.038%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5200	+0.045%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5201	+0.053%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5206	+0.085%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5210	+0.112%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5203	+0.065%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5207	+0.089%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	+0.058%	$54.1M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5197	+0.025%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5191	−0.012%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5201	+0.055%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5195	+0.012%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0211%	1h	1.5206	+0.085%	$7.7M	$25.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5196	+0.020%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5210	+0.111%	$5.7M	$46.8M	50x	as long as short
Hyperliquid XRP	+0.0219%	1h	1.5208	+0.098%	$281.4M	$223.5M	20x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5203	+0.065%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5199	+0.039%	$2.1M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0364%	1h	1.5215	+0.144%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5198	+0.033%	$535K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0756%	1h	1.5174	−0.125%	$2K	$14K	10x	as long as short