Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Pacifica against Katana Perps−0.028%7-day average +0.035% · you buy dearer than you sell

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

Long on Katana Perps Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.036%+$4 on $10k

Price spread, last 4 days (all we have)+0.082%+$8 · spread now −0.028%, 7d avg +0.035%

Together, before fees+0.119%+ Points / potential airdropPacifica: Active · farm board+$12 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: Pacifica is 0.063% cheaper against Katana Perps than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5540	0.0101	pay 0.0101% / 8h	42m 11s	$13K	$267K	20x
Short	Pacifica XRP	1.5536	0.0100	get 0.0013% / 1h	42m 11s	$639K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.028%Rate

Funding earned: −$0.12
Price spread: −0.028% → +0.035%: −$6.27
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$18.19
Costs to cover: 0.118%
Break-even: never at this rate

Slippage unknown: Katana Perps: no order-book sample; Pacifica: 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 Pacifica live order book, 2 min ago	1.28 bp	5.3 bp −$5	doesn't fit	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 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	1.5533	−0.045%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5541	+0.010%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5620	+0.515%	$70K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5523	−0.109%	$9.6M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5523	−0.107%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0104%	1h	1.5522	−0.113%	$854K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5526	−0.087%	$15.5M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0057%	8h	1.5524	−0.103%	$76K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+0.129%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5525	−0.095%	$3.0M	$12.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5530	−0.064%	$442K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5537	−0.016%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5531	−0.061%	$39.5M	$80.3M	100x	as long as short
Pacifica XRPshort	+0.0100%	1h	1.5536	−0.028%	$639K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5532	−0.049%	$556.3M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5535	−0.032%	$347.0M	$917.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5532	−0.051%	$126.8M	$888.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5546	+0.039%	$579K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5536	−0.026%	$117K	$754K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.599%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5529	−0.071%	$373.9M	$144.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5532	−0.051%	$298.1M	$870.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5525	−0.094%	$112.9M	$163.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5533	−0.045%	$271.5M	$370.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5534	−0.039%	—	$120.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5624	+0.538%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5600	+0.388%	$677K	$103.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5583	+0.275%	$1.1M	$40.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5597	+0.367%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5537	−0.021%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5532	−0.051%	$48K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5526	−0.090%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5524	−0.100%	$836K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5529	−0.073%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5523	−0.109%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5533	−0.046%	$51.0M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5527	−0.084%	$55.2M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5531	−0.059%	$484K	$54K	50x	as long as short
Katana Perps XRP-USDlong	+0.0101%	8h	1.5540	long leg	$13K	$267K	20x
Extended XRP-USD	+0.0104%	1h	1.5518	−0.140%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5522	−0.116%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5538	−0.013%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5526	−0.092%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5553	+0.084%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5532	−0.051%	$5.9M	$47.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5587	+0.302%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5543	+0.019%	$2.0M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0345%	1h	1.5538	−0.013%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0619%	1h	1.5551	+0.071%	$296.0M	$209.3M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5544	+0.027%	$507K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0810%	1h	1.5587	+0.303%	$1K	$11K	10x	as long as short