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 0.000%

Price spread now: Katana Perps against Paradex−0.101%7-day average −0.036% · you buy dearer than you sell

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

Long on Paradex Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.028%−$3 on $10k

Price spread, last 4 days (all we have)+0.207%+$21 · spread now −0.101%, 7d avg −0.036%

Together, before fees+0.179%+ Points / potential airdropParadex: Active · farm board+$18 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 0.065% cheaper against Paradex than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5171	0.0100	pay 0.0100% / 8h	7h 31m	$473K	$54K	50x
Short	Katana Perps XRP-USD	1.5156	0.0100	get 0.0100% / 8h	7h 31m	$20K	$381K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Paradex. 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 ParadexbpFee Katana PerpsbpOrdersPrice spread, now −0.101%Rate

Funding earned: −$0.04
Price spread: −0.101% → −0.036%: −$6.5
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$14.34
Costs to cover: 0.078%
Break-even: never at this rate

Slippage unknown: Paradex: live order book, 2 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 Paradex live order book, 2 min ago	7.25 bp	9.3 bp −$9	162.8 bp −$1,628	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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5152	−0.130%	$14.7M	$74.5M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5161	−0.068%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.009%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5153	−0.121%	$7.7M	$23.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5148	−0.153%	$246K	—	150x	as long as short
dYdX XRP-USD	+0.0011%	1h	1.5167	−0.028%	$1.1M	$154K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.562%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5197	+0.169%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5148	−0.151%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5154	−0.114%	$618K	$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
Katana Perps XRP-USDshort	+0.0100%	8h	1.5156	−0.101%	$20K	$381K	20x
Nado XRP-PERP	+0.0100%	1h	1.5153	−0.118%	$990K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5147	−0.161%	$38.4M	$84.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5168	−0.021%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5147	−0.160%	$528.0M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5142	−0.194%	$352.6M	$939.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5143	−0.187%	$125.8M	$848.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5175	+0.024%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5167	−0.029%	$143K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	+0.195%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5148	−0.154%	$375.6M	$153.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5148	−0.154%	$310.1M	$917.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5148	−0.151%	$105.8M	$183.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5142	−0.194%	$267.9M	$381.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5148	−0.154%	—	$108.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5200	+0.189%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5198	+0.176%	$660K	$112.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5198	+0.176%	$1.1M	$33.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5222	+0.334%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5166	−0.036%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5158	−0.088%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5154	−0.114%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5152	−0.128%	$77K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5208	+0.239%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5163	−0.056%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5149	−0.147%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5173	+0.011%	$49.5M	$15.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5152	−0.128%	$54.1M	$32.8M	50x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5171	long leg	$473K	$54K	50x
Extended XRP-USD	+0.0104%	1h	1.5139	−0.216%	$2.1M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5151	−0.132%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5158	−0.088%	$8K	$2K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0119% / S −0.0084%	1h	1.5148	−0.155%	$786K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5151	−0.134%	$5.3M	$47.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5169	−0.016%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRP	+0.0181%	1h	1.5158	−0.090%	$289.7M	$267.9M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0210%	1h	1.5151	−0.134%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5170	−0.009%	$23.7M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5148	−0.153%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5163	−0.052%	$519K	$788K	10x	as long as short
Aftermath Perps XRPUSD	+0.0558%	1h	1.5191	+0.132%	$2K	$16K	10x	as long as short