Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.020%

Price spread now: Kraken Futures against BloFin−0.118%57s7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.312% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.121%−$12 on $10k

Price spread, last 3 days (all we have)+0.140%+$14 · spread now −0.118%, 7d avg −0.005%

Together, before fees+0.019%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.113% cheaper against BloFin than usual: you would sell low and buy high (spread −0.118% now, against its 7-day average of −0.005%). If the spread goes back, that is −$11 on $10k: about 16 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.121%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XRP-USDT	1.5354	0.0220	pay 0.0220% / 8h	7h 22m	$24.1M	$73.7M	125x
Short	Kraken Futures PF_XRPUSD	1.5336	0.0244	get 0.0030% / 1h	22m 01s	$14.6M	$70.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now −0.118%Rate

Funding earned: $4.95
Price spread: −0.118% → −0.005%: −$11.29
Slippage, 4 orders: −$9.17
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$37.51
Costs to cover: 0.312%
Break-even: 60.1 days

Slippage from BloFin: live order book, 7 min ago; Kraken Futures: live order book, 2 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 BloFin live order book, 7 min ago	0.65 bp	6.7 bp −$7	7.2 bp −$72	10.5 bp −$1,053	19.1 bp −$9,549
Sell Kraken Futures live order book, 2 min ago	1.95 bp	7.0 bp −$7	8.6 bp −$86	19.7 bp −$1,972	47.6 bp −$23.8K

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	1.5347	−0.046%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5358	+0.023%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5341	−0.087%	$257K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5341	−0.085%	$9.3M	$25.1M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0077%	1h	1.5340	−0.089%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.342%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5340	−0.091%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5334	−0.130%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5340	−0.092%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5343	−0.072%	$515K	$3.2M	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-USD	+0.0100%	8h	1.5340	−0.091%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5346	−0.054%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5346	−0.049%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5340	−0.093%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5354	−0.003%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5328	−0.172%	$541.1M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5318	−0.234%	$341.8M	$920.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5317	−0.241%	$124.8M	$867.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.247%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5349	−0.033%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.128%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5332	−0.143%	$375.2M	$150.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5330	−0.156%	$310.0M	$907.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5340	−0.090%	$108.8M	$165.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5329	−0.163%	$268.4M	$375.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5330	−0.156%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	−0.013%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5361	+0.048%	$667K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5372	+0.117%	$1.1M	$38.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	−0.026%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5344	−0.068%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5344	−0.065%	$49K	$443K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5345	−0.056%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5341	−0.083%	$826K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5348	−0.040%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5337	−0.111%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5351	−0.021%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5337	−0.111%	$54.5M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5335	−0.123%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5338	−0.104%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5338	−0.102%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDTlong	+0.0220%	8h	1.5354	long leg	$24.1M	$73.7M	125x
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5344	−0.065%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSDshort	+0.0244%	1h	1.5336	−0.118%	$14.6M	$70.2M	50x
Backpack XRP_USDC_PERP	+0.0292%	1h	1.5340	−0.091%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5359	+0.033%	$2.1M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5363	+0.056%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0385%	1h	1.5346	−0.052%	$289.5M	$214.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	−0.026%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0791%	1h	1.5348	−0.040%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5346	−0.055%	$543K	$773K	10x	as long as short