Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0078%/8h= +8.6% APRpaid last 24h −0.022%

Price spread now: OKX against Kraken Futures−0.013%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$300.304% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 4 days (all we have)+0.101%+$10 · spread now −0.013%, 7d avg −0.011%

Together, before fees+0.028%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.073%, 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	0.0022	pay 0.0003% / 1h	40m 44s	$14.4M	$74.2M	50x
Short	OKX XRP-USDT-SWAP	1.5180	0.0100	get 0.0100% / 8h	3h 40m	$127.0M	$886.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.013%Rate

Funding earned: $16.48
Price spread: −0.013% → −0.011%: −$0.21
Slippage, 4 orders: −$10.4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$14.13
Costs to cover: 0.304%
Break-even: 13.0 days

Slippage from Kraken Futures: live order book, 3 min ago; OKX: 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	2.30 bp	9.8 bp −$10	11.6 bp −$116	19.0 bp −$1,903	36.8 bp −$18.4K
Sell OKX live order book, 3 min ago	0.33 bp	5.7 bp −$6	7.4 bp −$74	12.9 bp −$1,293	28.8 bp −$14.4K

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	1.5164	−0.118%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5177	−0.030%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5172	−0.066%	$261K	—	150x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0022%	1h	1.5182	long leg	$14.4M	$74.2M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.490%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0052% / S +0.0013%	1h	1.5172	−0.065%	$778K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5186	+0.027%	$7.8M	$25.6M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5182	−0.001%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5182	+0.001%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5161	−0.138%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5177	−0.032%	$62K	$934K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5162	−0.135%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5177	−0.031%	$38.3M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5179	−0.019%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5178	−0.026%	$533.2M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5179	−0.019%	$345.9M	$942.1M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5180	−0.013%	$127.0M	$886.8M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5151	−0.204%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5181	−0.006%	$118K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.139%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5177	−0.032%	$370.4M	$154.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5177	−0.032%	$293.0M	$900.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5179	−0.017%	$108.9M	$176.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5176	−0.039%	$268.8M	$388.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5179	−0.019%	—	$127.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5173	−0.060%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5203	+0.139%	$661K	$109.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5201	+0.125%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5209	+0.178%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5168	−0.092%	$44K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5172	−0.065%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5180	−0.010%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5186	+0.029%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5184	+0.014%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5173	−0.058%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5180	−0.013%	$54.1M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5177	−0.032%	$473K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5166	−0.103%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5174	−0.054%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5178	−0.026%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5163	−0.125%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5187	+0.033%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5169	−0.084%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5176	−0.039%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5170	−0.077%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0279%	8h	1.5178	−0.026%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0281%	1h	1.5193	+0.073%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0317%	1h	1.5192	+0.066%	$292.1M	$235.4M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5183	+0.009%	$517K	$774K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5170	−0.079%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5191	+0.062%	$2K	$15K	10x	as long as short