Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h −0.008%

Price spread now: Katana Perps against 01 Exchange−0.065%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Katana Perps is 0.065% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.2 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	01 Exchange XRPUSD	1.5383	0.0048	pay 0.0006% / 1h	19m 37s	$9K	$2K	10x
Short	Katana Perps XRP-USD	1.5373	0.0100	get 0.0100% / 8h	6h 19m	$10K	$397K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against 01 Exchange. 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 01 ExchangebpFee Katana PerpsbpOrdersPrice spread, now −0.065%Rate

Funding earned: $10.88
Price spread: −0.065% → 0.000%: −$6.5
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$6.42
Costs to cover: 0.108%
Break-even: 11.1 days

Slippage unknown: 01 Exchange: 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

01 Exchange 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 50 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	1.5382	−0.007%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5364	−0.125%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5375	−0.052%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5377	−0.036%	$250K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5371	−0.079%	$14.1M	$72.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.151%	$2K	$107K	30x	as long as short
01 Exchange XRPUSDlong	+0.0048%	1h	1.5383	long leg	$9K	$2K	10x
Lighter XRP	+0.0096%	1h	1.5358	−0.162%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5362	−0.137%	$604K	$3.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5378	−0.033%	$17K	$77K	7x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0099%	8h	1.5360	−0.147%	$479K	$51K	50x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5373	−0.065%	$10K	$397K	20x
Nado XRP-PERP	+0.0100%	1h	1.5375	−0.049%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5355	−0.182%	$39.5M	$82.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5360	−0.150%	$589K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5355	−0.182%	$535.8M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5361	−0.143%	$362.8M	$903.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5360	−0.150%	$124.4M	$845.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5390	+0.046%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5368	−0.098%	$165K	$693K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5429	+0.298%	$1.6M	$8K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5359	−0.156%	$379.2M	$160.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5355	−0.182%	$313.8M	$915.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5362	−0.139%	$106.9M	$182.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5360	−0.150%	$272.4M	$360.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5359	−0.156%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5373	−0.063%	$5.1M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5383	0.000%	$668K	$110.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5374	−0.058%	$1.1M	$31.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5399	+0.104%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5379	−0.025%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5376	−0.046%	$53K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5372	−0.074%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5374	−0.059%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5374	−0.060%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5370	−0.085%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5368	−0.095%	$50.1M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5369	−0.091%	$54.9M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5354	−0.187%	$2.1M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5368	−0.101%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5378	−0.033%	$5.5M	$45.6M	50x	as long as short
Hyperliquid XRP	+0.0132%	1h	1.5373	−0.065%	$298.5M	$268.3M	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0153% / S −0.0125%	1h	1.5371	−0.076%	$801K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0156%	8h	1.5387	+0.026%	$1.9M	$34.2M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0205%	1h	1.5379	−0.026%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5383	0.000%	$23.9M	$79.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5368	−0.095%	$1.4M	$2K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5383	−0.003%	$515K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0458%	1h	1.5382	−0.008%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5400	+0.111%	$69K	$109K	15x	as long as short