Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0085%/8h= +9.3% APRpaid last 24h −0.011%

Price spread now: SunX against Kraken Futures−0.015%7-day average +0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$650.651% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%−$1 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now −0.015%, 7d avg +0.019%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. SunX is 0.034% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.015% now, against its 7-day average of +0.019%). If the spread goes back, that is −$3 on $10k: about 32 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5389	0.0015	pay 0.0002% / 1h	9m 37s	$14.1M	$72.7M	50x
Short	SunX XRP-USDT	1.5387	0.0100	get 0.0100% / 8h	6h 09m	$129K	$1.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $17.75
Price spread: −0.015% → +0.019%: −$3.43
Slippage, 4 orders: −$47.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$50.82
Costs to cover: 0.651%
Break-even: 27.0 days

Slippage from Kraken Futures: live order book, 3 min ago; SunX: 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, 3 min ago	0.97 bp	9.6 bp −$10	11.1 bp −$111	20.1 bp −$2,007	47.4 bp −$23.7K
Sell SunX live order book, 9 min ago	17.27 bp	26.1 bp −$26	33.2 bp −$332	doesn't fit	doesn't fit

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	1.5392	+0.018%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5384	−0.037%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5390	+0.005%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5392	+0.018%	$244K	—	150x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0015%	1h	1.5389	long leg	$14.1M	$72.7M	50x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.110%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5386	−0.021%	$9K	$1K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5382	−0.046%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5387	−0.015%	$605K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5385	−0.027%	$480K	$48K	50x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5383	−0.041%	$10K	$396K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5380	−0.057%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5386	−0.021%	$39.5M	$82.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5385	−0.028%	$592K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5383	−0.040%	$536.3M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5382	−0.047%	$363.4M	$897.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5382	−0.047%	$124.8M	$844.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5406	+0.109%	$566K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5394	+0.031%	$165K	$691K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5353	−0.238%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5384	−0.034%	$380.0M	$161.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5381	−0.054%	$316.3M	$919.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5383	−0.042%	$106.7M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5383	−0.041%	$272.8M	$359.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5384	−0.034%	—	$103.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5387	−0.014%	$5.2M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5392	+0.021%	$669K	$110.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5390	+0.006%	$1.1M	$31.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5400	+0.070%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5389	−0.005%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5382	−0.047%	$53K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5389	−0.002%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5385	−0.028%	$76K	$607K	50x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5387	−0.015%	$129K	$1.6M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5387	−0.015%	$31K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5382	−0.050%	$50.2M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5394	+0.031%	$54.9M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5376	−0.083%	$2.2M	$6.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0104%	1h	1.5393	+0.023%	$17K	$76K	7x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5383	−0.041%	$59K	$25K	3x	as long as short
Hyperliquid XRP	+0.0110%	1h	1.5394	+0.031%	$299.5M	$266.2M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5390	+0.005%	$5.5M	$45.5M	50x	as long as short
Kalshi KXXRPPERP	+0.0149%	8h	1.5393	+0.024%	$1.9M	$34.5M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0157% / S −0.0325%	1h	1.5391	+0.012%	$610K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5401	+0.076%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5395	+0.037%	$23.8M	$79.1M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5377	−0.078%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5392	+0.021%	$514K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0450%	1h	1.5388	−0.008%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5410	+0.135%	$69K	$109K	15x	as long as short