Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0002%/8h= +0.3% APRpaid last 24h 0.000%

Price spread now: SoDEX against Katana Perps+0.040%7-day average +0.014% · you sell dearer than you buy

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

Long on Katana Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.295%−$29 · spread now +0.040%, 7d avg +0.014%

Together, before fees−0.276%−$28 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: SoDEX is 0.026% dearer against Katana Perps than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5132	0.0098	pay 0.0098% / 8h	4h 10m	$10K	$330K	20x
Short	SoDEX XRP-USD	1.5138	0.0100	get 0.0013% / 1h	10m 39s	$28K	$1.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.040%Rate

Funding earned: $0.48
Price spread: +0.040% → +0.014%: $2.59
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$8.73
Costs to cover: 0.118%
Break-even: 134.0 days

Slippage unknown: Katana Perps: no order-book sample; SoDEX: live order book, 3 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 SoDEX live order book, 3 min ago	0.33 bp	4.3 bp −$4	6.9 bp −$69	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	1.5148	+0.106%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5134	+0.016%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5134	+0.016%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.119%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5140	+0.052%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5139	+0.046%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.828%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0045% / S +0.0022%	1h	1.5140	+0.056%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0090%	8h	1.5139	+0.046%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5138	+0.037%	$2.8M	$14.6M	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	1.5139	+0.046%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USDlong	+0.0098%	8h	1.5132	long leg	$10K	$330K	20x
Nado XRP-PERP	+0.0100%	1h	1.5128	−0.030%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5141	+0.059%	$280.3M	$227.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5134	+0.016%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5139	+0.044%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5140	+0.051%	$533.5M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5139	+0.046%	$345.4M	$936.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5141	+0.059%	$126.6M	$874.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5142	+0.066%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5143	+0.073%	$110K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5130	−0.010%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5137	+0.033%	$368.9M	$154.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5140	+0.053%	$292.8M	$903.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5138	+0.038%	$107.8M	$175.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5138	+0.040%	$268.0M	$384.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5132	0.000%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	+0.044%	$5.2M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5141	+0.061%	$658K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5137	+0.031%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5155	+0.152%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5143	+0.070%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5146	+0.093%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5144	+0.079%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5139	+0.045%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5144	+0.082%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5138	+0.040%	$28K	$1.7M	10x
HTX XRP-USDT	+0.0100%	8h	1.5137	+0.032%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5138	+0.040%	$53.9M	$30.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5140	+0.052%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5135	+0.022%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5136	+0.027%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5144	+0.079%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0187%	1h	1.5144	+0.079%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5142	+0.066%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5144	+0.078%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5139	+0.047%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5137	+0.033%	$24.2M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5149	+0.112%	$2.1M	$34.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5144	+0.079%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0681%	1h	1.5150	+0.118%	$2K	$15K	10x	as long as short