Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Katana Perps against dYdX−0.065%7-day average −0.044% · you buy dearer than you sell

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

Long on dYdX Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.091%+$9 on $10k

Price spread, last 7 days−0.049%−$5 · spread now −0.065%, 7d avg −0.044%

Together, before fees+0.042%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.022% cheaper against dYdX than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of −0.044%). If the spread goes back, that is −$2 on $10k: about 17 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5208	0	get 0.0000% / 1h	36m 21s	$1.1M	$148K	10x
Short	Katana Perps XRP-USD	1.5198	0.0100	get 0.0100% / 8h	7h 36m	$20K	$380K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against dYdX. 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 dYdXbpFee Katana PerpsbpOrdersPrice spread, now −0.065%Rate

Funding earned: $20.96
Price spread: −0.065% → −0.044%: −$2.16
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $5
Costs to cover: 0.138%
Break-even: 5.3 days

Slippage unknown: dYdX: live order book, 3 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 dYdX live order book, 3 min ago	6.58 bp	11.6 bp −$12	11.6 bp −$116	13.9 bp −$1,389	58.2 bp −$29.1K
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	−0.0171%	1h	1.5210	+0.015%	$14.7M	$74.9M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5218	+0.066%	$5K	$3K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5208	long leg	$1.1M	$148K	10x
Phoenix XRP	0.0000%	1h	1.5220	+0.079%	$68K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5213	+0.033%	$7.7M	$23.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5211	+0.022%	$247K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.315%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5214	+0.042%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5202	−0.041%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5206	−0.013%	$620K	$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	1.5198	−0.065%	$20K	$380K	20x
Nado XRP-PERP	+0.0100%	1h	1.5194	−0.088%	$993K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5202	−0.040%	$38.5M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5206	−0.011%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5202	−0.039%	$529.9M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5200	−0.052%	$354.7M	$943.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5205	−0.019%	$126.8M	$853.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5173	−0.230%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5206	−0.013%	$143K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.045%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5200	−0.052%	$374.7M	$153.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5196	−0.078%	$312.3M	$914.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5196	−0.078%	$106.1M	$183.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5205	−0.019%	$269.1M	$382.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5199	−0.059%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5191	−0.111%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5194	−0.092%	$662K	$112.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5186	−0.141%	$1.1M	$33.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5199	−0.059%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5205	−0.017%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5199	−0.059%	$52K	$511K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5198	−0.066%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5205	−0.019%	$78K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5214	+0.040%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5210	+0.016%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5208	+0.001%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5211	+0.020%	$49.7M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5211	+0.020%	$54.3M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5207	−0.003%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5201	−0.042%	$2.1M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5204	−0.023%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0118% / S −0.0083%	1h	1.5201	−0.042%	$788K	—	200x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5202	−0.039%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5210	+0.014%	$5.5M	$47.8M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5224	+0.106%	$1.7M	$33.3M	2.9x	as long as short
Hyperliquid XRP	+0.0186%	1h	1.5210	+0.014%	$290.6M	$267.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	+0.007%	$23.7M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5205	−0.017%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0233%	1h	1.5220	+0.079%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5201	−0.047%	$522K	$798K	10x	as long as short
Aftermath Perps XRPUSD	+0.0554%	1h	1.5208	−0.001%	$2K	$16K	10x	as long as short