Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.023%

Price spread now: Kraken Futures against SunX−0.152%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$650.654% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.152%, 7d avg −0.014%

Together, before fees+0.102%+$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.138% cheaper against SunX than usual: you would sell low and buy high (spread −0.152% now, against its 7-day average of −0.014%). If the spread goes back, that is −$14 on $10k: about 6.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5450	0.0100	pay 0.0100% / 8h	2h 09m	$129K	$1.7M	30x
Short	Kraken Futures PF_XRPUSD	1.5427	0.0169	get 0.0021% / 1h	9m 00s	$15.7M	$65.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.152%Rate

Funding earned: $14.44
Price spread: −0.152% → −0.014%: −$13.76
Slippage, 4 orders: −$47.36
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$64.68
Costs to cover: 0.654%
Break-even: 38.3 days

Slippage from SunX: live order book, 6 min ago; Kraken Futures: live order book, 5 min ago.

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 SunX live order book, 6 min ago	12.76 bp	16.9 bp −$17	23.2 bp −$232	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	2.26 bp	12.7 bp −$13	16.8 bp −$168	26.8 bp −$2,680	55.5 bp −$27.7K

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	1.5477	+0.172%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5451	+0.002%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	−0.003%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5433	−0.113%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5432	−0.118%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.038%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5438	−0.080%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0169%	1h	1.5431	−0.123%	$909K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5431	−0.127%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5426	−0.158%	$446K	$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
Nado XRP-PERP	+0.0100%	1h	1.5442	−0.051%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5407	−0.281%	$39.2M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5447	−0.022%	$675K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5414	−0.233%	$554.6M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5405	−0.294%	$346.5M	$852.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5403	−0.307%	$126.1M	$846.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5427	−0.151%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5449	−0.009%	$120K	$686K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.137%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5408	−0.274%	$368.0M	$133.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5402	−0.313%	$293.0M	$820.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5406	−0.286%	$112.1M	$149.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5404	−0.300%	$266.9M	$346.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5421	−0.190%	—	$114.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.238%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	+0.086%	$671K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5471	+0.135%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5489	+0.250%	$1.0M	$878K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5442	−0.054%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5445	−0.035%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5435	−0.100%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5432	−0.120%	$831K	$70K	10x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5450	long leg	$129K	$1.7M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5429	−0.139%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5420	−0.194%	$50.8M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5415	−0.229%	$55.1M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5443	−0.045%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5443	−0.048%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5402	−0.314%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5431	−0.123%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5450	−0.003%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSDshort	+0.0169%	1h	1.5427	−0.152%	$15.7M	$65.3M	50x
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5440	−0.067%	$5.6M	$45.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5421	−0.190%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5436	−0.096%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5429	−0.139%	$24.2M	$68.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5481	+0.199%	$19K	$66K	7x	as long as short
Kalshi KXXRPPERP	+0.0299%	8h	1.5457	+0.043%	$1.8M	$32.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5453	+0.019%	$406K	$499K	10x	as long as short
Hyperliquid XRP	+0.0506%	1h	1.5428	−0.145%	$284.3M	$190.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5450	−0.005%	$1K	$11K	10x	as long as short