Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0145%/8h= −15.9% APRpaid last 24h −0.016%

Price spread now: Bitget against Kraken Futures−0.146%48s7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$360.363% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.052%−$5 on $10k

Price spread, last 3 days (all we have)+0.186%+$19 · spread now −0.146%, 7d avg −0.006%

Together, before fees+0.135%+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.140% cheaper against Kraken Futures than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.006%). Swap the legs. The two prices were read 48 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	Kraken Futures PF_XRPUSD	1.5242	0.0245	pay 0.0031% / 1h	1m 29s	$14.3M	$70.4M	50x
Short	Bitget XRPUSDT	1.5220	0.0100	get 0.0100% / 8h	7h 01m	$266.8M	$376.5M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$30.46
Price spread: −0.146% → −0.006%: −$14.04
Slippage, 4 orders: −$14.32
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$80.83
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Bitget: live order book, 3 min ago.

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 Kraken Futures live order book, 3 min ago	3.60 bp	11.5 bp −$12	13.6 bp −$136	23.2 bp −$2,322	79.4 bp −$39.7K
Sell Bitget live order book, 3 min ago	0.33 bp	6.3 bp −$6	7.8 bp −$78	17.5 bp −$1,750	22.6 bp −$11.3K

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	1.5246	+0.024%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5244	+0.012%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5215	−0.179%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5249	+0.044%	$9.2M	$24.5M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0070%	1h	1.5213	−0.193%	$834K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.084%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5217	−0.166%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5234	−0.054%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5250	+0.051%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5258	+0.103%	$509K	$3.3M	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-USD	+0.0100%	8h	1.5227	−0.100%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5241	−0.010%	$475K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5221	−0.139%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5227	−0.100%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5251	+0.055%	$627K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5218	−0.156%	$536.7M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5219	−0.153%	$339.8M	$921.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5217	−0.166%	$122.7M	$863.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.179%	$567K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5240	−0.015%	$115K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.704%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5217	−0.166%	$366.9M	$153.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5219	−0.153%	$300.9M	$919.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5229	−0.088%	$110.3M	$167.9M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5220	−0.146%	$266.8M	$376.5M	125x
BingX XRP-USDC	+0.0100%	8h	1.5214	−0.186%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.475%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5260	+0.115%	$663K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.561%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.064%	$1.2M	$999K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5229	−0.087%	$45K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	−0.157%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5257	+0.099%	$821K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5256	+0.093%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	+0.005%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5240	−0.015%	$50.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5251	+0.057%	$54.1M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5230	−0.082%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5229	−0.088%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5253	+0.072%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5216	−0.171%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−0.067%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5248	+0.038%	$5.7M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0245%	1h	1.5242	long leg	$14.3M	$70.4M	50x
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5254	+0.077%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5252	+0.062%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5257	+0.097%	$2.0M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0357%	1h	1.5241	−0.008%	$286.5M	$216.2M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	−0.015%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5236	−0.040%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0853%	1h	1.5298	+0.365%	$2K	$13K	10x	as long as short