Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0283%/8h= +30.9% APRpaid last 24h +0.030%

Price spread now: BloFin against Kraken Futures−0.043%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 4 days (all we have)+0.013%+$1 · spread now −0.043%, 7d avg +0.003%

Together, before fees+0.120%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.046% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of +0.003%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+0.107% in total) that is about 3.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.107% in total (about 5.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5288	−0.0063	get 0.0008% / 1h	44m 58s	$13.9M	$70.3M	50x
Short	BloFin XRP-USDT	1.5281	0.0220	get 0.0220% / 8h	5h 44m	$23.9M	$78.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.043%Rate

Funding earned: $59.33
Price spread: −0.043% → +0.003%: −$4.64
Slippage, 4 orders: −$10.76
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $21.93
Costs to cover: 0.328%
Break-even: 4.4 days

Slippage from Kraken Futures: live order book, 2 min ago; BloFin: live order book, 7 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, 2 min ago	1.63 bp	8.7 bp −$9	10.7 bp −$107	19.9 bp −$1,988	41.0 bp −$20.5K
Sell BloFin live order book, 7 min ago	0.98 bp	7.0 bp −$7	8.0 bp −$80	10.3 bp −$1,034	20.9 bp −$10.4K

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	1.5356	+0.448%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0063%	1h	1.5288	long leg	$13.9M	$70.3M	50x
dYdX XRP-USD	0.0000%	1h	1.5286	−0.013%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5340	+0.343%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5287	−0.004%	$7.8M	$21.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5286	−0.010%	$242K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5291	+0.022%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.782%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0068%	1h	1.5283	−0.030%	$29K	$1.5M	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5284	−0.025%	$2.8M	$14.1M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5291	+0.022%	$598K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5286	−0.011%	$477K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5284	−0.023%	$10K	$399K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5284	−0.020%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5299	+0.075%	$297.8M	$267.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5290	+0.016%	$39.2M	$81.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5289	+0.007%	$590K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5283	−0.030%	$532.7M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5282	−0.036%	$360.5M	$887.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5280	−0.049%	$124.6M	$832.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5279	−0.056%	$562K	$36K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5292	+0.029%	$164K	$682K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5314	+0.174%	$1.6M	$26K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5288	+0.003%	$380.0M	$156.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5286	−0.010%	$310.8M	$891.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5285	−0.014%	$105.0M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5282	−0.036%	$271.2M	$356.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5281	−0.043%	—	$4.2M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5298	+0.068%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	+0.138%	$5.0M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5313	+0.169%	$665K	$109.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5321	+0.216%	$1.1M	$30.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5317	+0.193%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5291	+0.022%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5284	−0.023%	$52K	$474K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5283	−0.031%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5283	−0.030%	$83K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5287	−0.002%	$128K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5284	−0.022%	$49.8M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5289	+0.009%	$54.5M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5276	−0.072%	$2.2M	$6.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0104%	1h	1.5313	+0.164%	$17K	$76K	7x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5277	−0.066%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5291	+0.022%	$5.4M	$43.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0135%	8h	1.5291	+0.022%	$1.9M	$35.1M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0211% / S −0.0510%	1h	1.5283	−0.027%	$822K	—	200x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5281	−0.043%	$23.9M	$78.0M	125x
Reya XRPRUSDPERP	+0.0223%	1h	1.5279	−0.056%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5291	+0.024%	$513K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0443%	1h	1.5332	+0.290%	$3K	$13K	10x	as long as short