Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0270%/8h= +29.6% APRpaid last 24h −0.015%

Price spread now: KuCoin against Kraken Futures+0.013%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$410.407% of the position

Long on Kraken Futures Short on KuCoin

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)+0.379%+$38 · spread now +0.013%, 7d avg +0.009%

Together, before fees+0.272%+$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.107%, so the current rate has only just turned in your favour.

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 is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5293	−0.0170	get 0.0021% / 1h	19m 59s	$14.8M	$73.4M	50x
Short	KuCoin XRPUSDTM	1.5295	0.0100	get 0.0100% / 8h	7h 19m	$107.6M	$181.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.013%Rate

Funding earned: $56.79
Price spread: +0.013% → +0.009%: $0.39
Slippage, 4 orders: −$18.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $16.45
Costs to cover: 0.407%
Break-even: 5.0 days

Slippage from Kraken Futures: live order book, 4 min ago; KuCoin: live order book, 9 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	3.94 bp	12.2 bp −$12	13.3 bp −$133	21.2 bp −$2,115	42.7 bp −$21.3K
Sell KuCoin live order book, 9 min ago	0.66 bp	11.1 bp −$11	16.8 bp −$168	doesn't fit	doesn't fit

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
Kraken Futures PF_XRPUSDlong	−0.0170%	1h	1.5293	long leg	$14.8M	$73.4M	50x
Hotstuff XRP-PERP	−0.0080%	1h	1.5287	−0.039%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	−0.673%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5286	−0.045%	$248K	—	150x	as long as short
dYdX XRP-USD	+0.0007%	1h	1.5291	−0.015%	$1.1M	$160K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5300	+0.046%	$7.8M	$23.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.746%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5293	0.000%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5283	−0.066%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5296	+0.019%	$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	1.5296	+0.020%	$622K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5290	−0.019%	$20K	$379K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5295	+0.017%	$999K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5297	+0.028%	$38.7M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5292	−0.003%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5297	+0.027%	$533.2M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5292	−0.006%	$356.7M	$922.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5291	−0.013%	$126.7M	$842.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5302	+0.059%	$561K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5299	+0.040%	$144K	$701K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−0.990%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5284	−0.058%	$374.9M	$155.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5297	+0.027%	$317.0M	$924.4M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5295	+0.013%	$107.6M	$181.2M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5293	0.000%	$270.6M	$372.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5297	+0.027%	—	$108.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	+0.107%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5245	−0.311%	$662K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5273	−0.128%	$1.1M	$32.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−0.287%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5293	−0.001%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5286	−0.045%	$52K	$504K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5295	+0.014%	$41K	$67K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5296	+0.020%	$78K	$647K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.937%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5299	+0.037%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5293	0.000%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5295	+0.011%	$49.9M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5293	0.000%	$54.4M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5298	+0.031%	$477K	$53K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5289	−0.027%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5293	+0.001%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0131% / S −0.0092%	1h	1.5286	−0.047%	$782K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5296	+0.020%	$5.3M	$47.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5301	+0.053%	$1.8M	$33.0M	2.9x	as long as short
Hyperliquid XRP	+0.0178%	1h	1.5301	+0.053%	$292.7M	$264.1M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0209%	1h	1.5299	+0.040%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5313	+0.131%	$24.0M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5285	−0.051%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5298	+0.034%	$524K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0520%	1h	1.5237	−0.363%	$3K	$16K	10x	as long as short