Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Katana Perps against Nado+0.132%53s7-day average −0.065% · you sell dearer than you buy

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

Long on Nado Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.026%−$3 on $10k

Price spread, last 7 days−0.245%−$24 · spread now +0.132%, 7d avg −0.065%

Together, before fees−0.271%+ Points / potential airdropNado: Active · farm board−$27 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Katana Perps is 0.197% dearer against Nado than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of −0.065%. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XRP-PERP	1.5356	0.0100	pay 0.0012% / 1h	16m 24s	$1.0M	$5.9M	20x
Short	Katana Perps XRP-USD	1.5376	0.0100	get 0.0100% / 8h	6h 16m	$10K	$396K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Nado. 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 NadobpFee Katana PerpsbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$0.04
Price spread: +0.132% → −0.065%: $19.69
Slippage, 4 orders: no order book: not counted
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $8.85
Costs to cover: 0.108%
Break-even: from the start

Slippage unknown: Nado: live order book, 6 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 Nado live order book, 6 min ago	0.32 bp	4.1 bp −$4	8.4 bp −$84	doesn't fit	doesn't fit
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 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	1.5355	−0.005%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5378	+0.148%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5358	+0.015%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5384	+0.181%	$250K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5359	+0.020%	$14.1M	$72.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.330%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5386	+0.197%	$9K	$2K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5377	+0.138%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5378	+0.145%	$605K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5379	+0.149%	$480K	$51K	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-USDshort	+0.0100%	8h	1.5376	+0.132%	$10K	$396K	20x
Nado XRP-PERPlong	+0.0100%	1h	1.5356	long leg	$1.0M	$5.9M	20x
Aster XRPUSDT	+0.0100%	8h	1.5385	+0.190%	$39.6M	$82.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5378	+0.145%	$589K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5385	+0.190%	$536.5M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5387	+0.204%	$363.3M	$899.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5385	+0.190%	$124.6M	$846.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5340	−0.103%	$563K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5387	+0.204%	$165K	$692K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5353	−0.020%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5378	+0.145%	$380.0M	$160.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5388	+0.210%	$315.7M	$917.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5376	+0.134%	$106.8M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5388	+0.210%	$272.7M	$360.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5377	+0.138%	—	$103.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5373	+0.115%	$5.1M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5358	+0.011%	$667K	$111.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5351	−0.031%	$1.1M	$31.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5391	+0.230%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5383	+0.179%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5386	+0.197%	$53K	$479K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5386	+0.197%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5354	−0.011%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5361	+0.034%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5354	−0.011%	$31K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5352	−0.024%	$50.1M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5359	+0.021%	$54.8M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5372	+0.108%	$2.1M	$5.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0104%	1h	1.5354	−0.013%	$17K	$76K	7x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5349	−0.042%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5357	+0.008%	$5.5M	$45.6M	50x	as long as short
Hyperliquid XRP	+0.0131%	1h	1.5401	+0.295%	$299.1M	$268.4M	20x	as long as short
Kalshi KXXRPPERP	+0.0153%	8h	1.5365	+0.060%	$1.9M	$34.3M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0154% / S −0.0125%	1h	1.5361	+0.032%	$800K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0197%	1h	1.5367	+0.073%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5354	−0.011%	$23.8M	$79.3M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5383	+0.180%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5385	+0.190%	$513K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0464%	1h	1.5371	+0.099%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5350	−0.037%	$69K	$109K	15x	as long as short