Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 16:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: OKX against Katana Perps+0.006%7-day average +0.036% · you sell dearer than you buy

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

Long on Katana Perps Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 7 days+0.087%+$9 · spread now +0.006%, 7d avg +0.036%

Together, before fees+0.108%+$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: OKX is 0.030% cheaper against Katana Perps than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5413	0.0100	pay 0.0100% / 8h	6h 00m	$10K	$400K	20x
Short	OKX XRP-USDT-SWAP	1.5414	0.0100	get 0.0100% / 8h	6h 00m	$125.3M	$844.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.006%Rate

Funding earned: $0.04
Price spread: +0.006% → +0.036%: −$2.98
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee OKX: 5 bp × 2 orders: −$10
Net: −$16.73
Costs to cover: 0.138%
Break-even: 2662.8 days

Slippage unknown: Katana Perps: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.32 bp	5.3 bp −$5	5.8 bp −$58	12.2 bp −$1,216	27.3 bp −$13.6K

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	1.5392	−0.136%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5419	+0.037%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5426	+0.084%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5390	−0.149%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5421	+0.053%	$14.1M	$72.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.954%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5423	+0.065%	$9K	$987	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5423	+0.063%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5426	+0.084%	$607K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5425	+0.078%	$481K	$47K	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	1.5413	long leg	$10K	$400K	20x
Nado XRP-PERP	+0.0100%	1h	1.5423	+0.068%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5429	+0.104%	$300.9M	$267.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5416	+0.017%	$39.6M	$82.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5418	+0.035%	$593K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5414	+0.006%	$537.5M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5415	+0.013%	$365.4M	$894.1M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5414	+0.006%	$125.3M	$844.1M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5424	+0.071%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5431	+0.117%	$166K	$684K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5423	+0.065%	$384.5M	$162.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5420	+0.045%	$313.0M	$923.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5423	+0.064%	$107.2M	$181.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5415	+0.013%	$273.4M	$358.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5417	+0.026%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5390	−0.150%	$5.0M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5405	−0.055%	$669K	$110.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5425	+0.077%	$1.1M	$31.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5421	+0.052%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5420	+0.045%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5427	+0.091%	$53K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5423	+0.064%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5423	+0.065%	$76K	$606K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5428	+0.097%	$129K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5422	+0.058%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5419	+0.042%	$50.3M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5421	+0.052%	$55.0M	$33.4M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5369	−0.284%	$1.6M	$25K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5417	+0.029%	$2.2M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5417	+0.026%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5394	−0.121%	$17K	$76K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5427	+0.091%	$5.5M	$45.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0144%	8h	1.5415	+0.013%	$1.9M	$34.8M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0167% / S −0.0363%	1h	1.5422	+0.057%	$611K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0197%	1h	1.5431	+0.117%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5397	−0.104%	$23.9M	$78.9M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5417	+0.029%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5396	−0.107%	$514K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0429%	1h	1.5406	−0.044%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5410	−0.019%	$69K	$109K	15x	as long as short