Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h +0.027%

Price spread now: Katana Perps against Deribit−0.111%7-day average −0.043% · you buy dearer than you sell

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

Long on Deribit Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)+0.154%+$15 · spread now −0.111%, 7d avg −0.043%

Together, before fees+0.154%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.067% cheaper against Deribit than usual: you would sell low and buy high (spread −0.111% now, against its 7-day average of −0.043%). If the spread goes back, that is −$7 on $10k: about 9.0 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5377	0.0075	pay 0.0009% / 1h	24m 20s	$9.3M	$25.1M	50x
Short	Katana Perps XRP-USD	1.5360	0.0100	get 0.0100% / 8h	7h 24m	$10K	$279K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Deribit. 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 DeribitbpFee Katana PerpsbpOrdersPrice spread, now −0.111%Rate

Funding earned: $5.21
Price spread: −0.111% → −0.043%: −$6.72
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$12.32
Costs to cover: 0.108%
Break-even: 23.6 days

Slippage unknown: Deribit: live order book, 5 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 Deribit live order book, 5 min ago	0.98 bp	5.0 bp −$5	7.0 bp −$70	38.8 bp −$3,884	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5368	−0.059%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	−0.075%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5366	−0.073%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0078%	1h	1.5366	−0.074%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.190%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5367	−0.065%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0075%	1h	1.5377	long leg	$9.3M	$25.1M	50x
01 Exchange XRPUSD	+0.0088%	1h	1.5356	−0.137%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5366	−0.071%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5369	−0.052%	$516K	$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-USDshort	+0.0100%	8h	1.5360	−0.111%	$10K	$279K	20x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	−0.041%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5368	−0.055%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5365	−0.080%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5368	−0.058%	$622K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5369	−0.054%	$542.6M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5368	−0.059%	$342.8M	$919.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5366	−0.072%	$124.9M	$869.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.397%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5365	−0.078%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.277%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5369	−0.052%	$375.6M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5368	−0.059%	$314.0M	$905.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5364	−0.084%	$109.0M	$165.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5363	−0.091%	$268.9M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5366	−0.072%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	−0.163%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5338	−0.251%	$666K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.278%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	−0.176%	$1.2M	$996K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	−0.065%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5366	−0.070%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5371	−0.041%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5369	−0.053%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5371	−0.039%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5374	−0.018%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5372	−0.033%	$54.7M	$29.6M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	−0.099%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5362	−0.097%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	−0.087%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	−0.109%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5369	−0.052%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5374	−0.020%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5370	−0.047%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0299%	1h	1.5375	−0.013%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5373	−0.026%	$2.0M	$34.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5367	−0.065%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0388%	1h	1.5375	−0.013%	$290.2M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	−0.176%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0796%	1h	1.5348	−0.188%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5366	−0.072%	$544K	$772K	10x	as long as short