Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h −0.017%

Price spread now: Katana Perps against Kraken Futures−0.013%7-day average −0.023% · you buy dearer than you sell

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

Long on Kraken Futures Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.104%−$10 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.013%, 7d avg −0.023%

Together, before fees−0.044%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.104%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5182	0.0078	pay 0.0010% / 1h	6m 42s	$14.6M	$73.6M	50x
Short	Katana Perps XRP-USD	1.5180	0.0099	get 0.0099% / 8h	6m 42s	$20K	$382K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.013%Rate

Funding earned: $4.47
Price spread: −0.013% → −0.023%: $1.02
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$8.31
Costs to cover: 0.138%
Break-even: 20.0 days

Slippage unknown: Kraken Futures: live order book, 2 min ago; Katana Perps: no order-book sample. 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 Kraken Futures live order book, 2 min ago	0.33 bp	7.1 bp −$7	11.9 bp −$119	20.6 bp −$2,062	46.1 bp −$23.0K
Sell Katana Perps no order-book sample	—	—	—	—	—

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	1.5178	−0.026%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5179	−0.019%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5179	−0.020%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5184	+0.014%	$7.7M	$24.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.490%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0078%	1h	1.5182	long leg	$14.6M	$73.6M	50x
Hibachi XRP/USDT-P	+0.0088%	1h	1.5186	+0.025%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5187	+0.036%	$2.8M	$15.2M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5179	−0.019%	$605K	$3.2M	20x	as long as short
Katana Perps XRP-USDshort	+0.0099%	8h	1.5180	−0.013%	$20K	$382K	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5178	−0.022%	$999K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5178	−0.028%	$38.5M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5181	−0.005%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5178	−0.026%	$529.7M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5182	+0.001%	$350.0M	$948.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5177	−0.032%	$127.4M	$862.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.065%	$565K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5188	+0.040%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.047%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5173	−0.059%	$377.8M	$162.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5187	+0.034%	$310.3M	$929.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5186	+0.026%	$106.7M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5174	−0.052%	$268.9M	$388.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5172	−0.065%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.127%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5164	−0.120%	$660K	$113.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5172	−0.065%	$1.1M	$34.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5168	−0.092%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5185	+0.017%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5183	+0.007%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5176	−0.041%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5182	+0.001%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5185	+0.017%	$817K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5183	+0.009%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5179	−0.019%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	−0.022%	$49.5M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5180	−0.013%	$54.1M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5181	−0.008%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5169	−0.088%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5186	+0.027%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5180	−0.009%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0109% / S −0.0071%	1h	1.5172	−0.063%	$784K	—	200x	as long as short
Hyperliquid XRP	+0.0143%	1h	1.5188	+0.040%	$289.9M	$268.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0165%	8h	1.5182	+0.001%	$1.8M	$33.7M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5186	+0.027%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0180%	1h	1.5190	+0.053%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	−0.019%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5172	−0.067%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5187	+0.037%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5170	−0.078%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0574%	1h	1.5177	−0.029%	$2K	$16K	10x	as long as short