Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h −0.022%

Price spread now: HTX against Kraken Futures+0.001%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.001%, 7d avg −0.050%

Together, before fees−0.030%−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and HTX is 0.051% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5134	−0.0071	get 0.0009% / 1h	10m 18s	$14.3M	$73.8M	50x
Short	HTX XRP-USDT	1.5134	0.0100	get 0.0100% / 8h	4h 10m	$49.5M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.001%Rate

Funding earned: $35.87
Price spread: +0.001% → −0.050%: $5.12
Slippage, 4 orders: −$12.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: $6.38
Costs to cover: 0.346%
Break-even: 5.8 days

Slippage from Kraken Futures: live order book, 4 min ago; HTX: live order book, 4 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, 4 min ago	2.31 bp	7.3 bp −$7	10.4 bp −$104	17.0 bp −$1,696	35.0 bp −$17.5K
Sell HTX live order book, 4 min ago	1.92 bp	10.4 bp −$10	13.1 bp −$131	33.1 bp −$3,313	109.6 bp −$54.8K

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	+0.093%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0071%	1h	1.5134	long leg	$14.3M	$73.8M	50x
dYdX XRP-USD	0.0000%	1h	1.5134	+0.003%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.106%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5141	+0.046%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5141	+0.046%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.815%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0045% / S +0.0022%	1h	1.5138	+0.030%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0090%	8h	1.5139	+0.033%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5140	+0.042%	$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	+0.033%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5132	−0.013%	$10K	$330K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5128	−0.043%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5152	+0.119%	$280.5M	$227.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5139	+0.033%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5139	+0.031%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5137	+0.020%	$533.4M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5135	+0.007%	$345.3M	$936.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5138	+0.027%	$126.7M	$874.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5142	+0.053%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5143	+0.060%	$110K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5130	−0.023%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5143	+0.060%	$369.0M	$154.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5136	+0.013%	$292.8M	$903.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5138	+0.026%	$107.8M	$175.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5138	+0.027%	$267.9M	$384.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5142	+0.053%	—	$127.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	+0.031%	$5.2M	$37.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5141	+0.048%	$658K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5137	+0.018%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5155	+0.139%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5140	+0.039%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5141	+0.046%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5141	+0.049%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5140	+0.040%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5144	+0.063%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5137	+0.020%	$29K	$1.7M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5134	+0.001%	$49.5M	$15.7M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5138	+0.027%	$53.9M	$30.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5140	+0.039%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5135	+0.008%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5138	+0.023%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5144	+0.066%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0187%	1h	1.5144	+0.066%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5142	+0.053%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5144	+0.069%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5138	+0.027%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5137	+0.020%	$24.2M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5142	+0.053%	$2.1M	$34.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5144	+0.066%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0684%	1h	1.5148	+0.092%	$2K	$15K	10x	as long as short