Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Katana Perps+0.202%54s7-day average +0.076% · you sell dearer than you buy

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

Long on Katana Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 7 days−0.135%−$14 · spread now +0.202%, 7d avg +0.076%

Together, before fees−0.105%−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: ApeX Omni is 0.126% dearer against Katana Perps than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.076%. The two prices were read 54 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	Katana Perps XRP-USD	1.5369	0.0100	pay 0.0100% / 8h	6h 06m	$9K	$397K	20x
Short	ApeX Omni XRPUSDT	1.5400	0.0100	get 0.0013% / 1h	6m 05s	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Katana Perps. 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 Katana PerpsbpFee ApeX OmnibpOrdersPrice spread, now +0.202%Rate

Funding earned: $0.04
Price spread: +0.202% → +0.076%: $12.59
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$1.17
Costs to cover: 0.138%
Break-even: 192.4 days

Slippage unknown: Katana Perps: no order-book sample; ApeX Omni: live order book, 1 min ago. 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 Katana Perps no order-book sample	—	—	—	—	—
Sell ApeX Omni live order book, 1 min ago	3.24 bp	8.3 bp −$8	14.6 bp −$146	doesn't fit	doesn't fit

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	1.5397	+0.182%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5369	0.000%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5403	+0.221%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5398	+0.192%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5411	+0.270%	$14.2M	$72.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.243%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5404	+0.228%	$9K	$1K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5396	+0.178%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5405	+0.234%	$608K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5359	−0.063%	$479K	$48K	50x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USDlong	+0.0100%	8h	1.5369	long leg	$9K	$397K	20x
Nado XRP-PERP	+0.0100%	1h	1.5370	+0.003%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5408	+0.254%	$300.0M	$266.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5404	+0.229%	$39.5M	$81.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5365	−0.027%	$591K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5405	+0.234%	$536.9M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5403	+0.221%	$363.5M	$893.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5403	+0.221%	$124.8M	$843.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5398	+0.189%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5374	+0.033%	$165K	$683K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5398	+0.189%	$382.2M	$161.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5396	+0.176%	$317.0M	$921.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5407	+0.247%	$106.9M	$181.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5399	+0.195%	$273.1M	$358.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5385	+0.104%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5387	+0.117%	$5.2M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5379	+0.067%	$668K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5390	+0.138%	$1.1M	$31.2M	20x	as long as short
ApeX Omni XRPUSDTshort	+0.0100%	1h	1.5400	+0.202%	$1.2M	$1.2M	50x
Vest XRP-PERP	+0.0100%	1h	1.5380	+0.070%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5374	+0.033%	$53K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5380	+0.072%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5388	+0.124%	$76K	$607K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5381	+0.077%	$128K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5399	+0.195%	$32K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5379	+0.062%	$50.1M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5399	+0.195%	$55.0M	$33.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5369	+0.001%	$1.6M	$25K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5400	+0.199%	$2.2M	$6.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5393	+0.157%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0112%	1h	1.5380	+0.073%	$17K	$76K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5409	+0.260%	$5.5M	$45.2M	50x	as long as short
Kalshi KXXRPPERP	+0.0146%	8h	1.5393	+0.156%	$1.9M	$34.6M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0162% / S −0.0343%	1h	1.5396	+0.173%	$610K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0196%	1h	1.5408	+0.254%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5400	+0.202%	$23.9M	$79.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5368	−0.007%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5372	+0.023%	$513K	$784K	10x	as long as short
Aftermath Perps XRPUSD	+0.0447%	1h	1.5385	+0.107%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5390	+0.137%	$69K	$109K	15x	as long as short