Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0143%/8h= +15.7% APRpaid last 24h +0.016%

Price spread now: Kraken Futures against OKX+0.106%45s7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.299% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.058%+$6 on $10k

Price spread, last 3 days (all we have)−0.154%−$15 · spread now +0.106%, 7d avg +0.013%

Together, before fees−0.096%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.092% dearer against OKX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.013%. The two prices were read 45 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	OKX XRP-USDT-SWAP	1.5341	0.0100	pay 0.0100% / 8h	7h 22m	$124.8M	$868.0M	100x
Short	Kraken Futures PF_XRPUSD	1.5357	0.0243	get 0.0030% / 1h	22m 41s	$14.5M	$70.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.106%Rate

Funding earned: $30.08
Price spread: +0.106% → +0.013%: $9.24
Slippage, 4 orders: −$9.88
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $9.44
Costs to cover: 0.299%
Break-even: 4.8 days

Slippage from OKX: live order book, 1 min ago; Kraken Futures: live order book, 1 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 OKX live order book, 1 min ago	0.33 bp	6.2 bp −$6	8.1 bp −$81	16.1 bp −$1,605	30.7 bp −$15.4K
Sell Kraken Futures live order book, 1 min ago	1.95 bp	7.0 bp −$7	8.6 bp −$86	19.7 bp −$1,972	47.6 bp −$23.8K

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	1.5347	+0.039%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5358	+0.108%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5354	+0.084%	$257K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5359	+0.117%	$9.3M	$25.1M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0077%	1h	1.5354	+0.082%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.428%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5355	+0.091%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5334	−0.046%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5359	+0.119%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5349	+0.052%	$516K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5340	−0.007%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5346	+0.031%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5359	+0.117%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5347	+0.039%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5354	+0.082%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5340	−0.008%	$541.5M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5340	−0.007%	$342.4M	$919.9M	100x	as long as short
OKX XRP-USDT-SWAPlong	+0.0100%	8h	1.5341	long leg	$124.8M	$868.0M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.163%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5349	+0.052%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.043%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5344	+0.020%	$375.7M	$150.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5349	+0.052%	$312.0M	$906.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5344	+0.020%	$108.8M	$165.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5345	+0.026%	$268.6M	$375.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5346	+0.033%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	+0.071%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5361	+0.132%	$667K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5372	+0.202%	$1.1M	$38.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	+0.059%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5361	+0.130%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	+0.169%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5363	+0.146%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5358	+0.111%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5368	+0.175%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5357	+0.104%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5356	+0.100%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5355	+0.091%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5341	0.000%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5355	+0.093%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	+0.126%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5354	+0.085%	$24.1M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5363	+0.143%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSDshort	+0.0243%	1h	1.5357	+0.106%	$14.5M	$70.0M	50x
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5361	+0.130%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5362	+0.137%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5367	+0.169%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0386%	1h	1.5358	+0.111%	$289.8M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.059%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0794%	1h	1.5352	+0.073%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5346	+0.030%	$543K	$773K	10x	as long as short