Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0384%/8h= −42.0% APRpaid last 24h −0.117%

Price spread now: Katana Perps against RISEx−0.063%7-day average −0.068% · you buy dearer than you sell

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

Long on RISEx Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.337%−$34 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.063%, 7d avg −0.068%

Together, before fees−0.350%−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.068%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XRP/USDC	1.5113	0.0484	pay 0.0060% / 1h	50m 42s	$526K	$769K	10x
Short	Katana Perps XRP-USD	1.5103	0.0100	get 0.0100% / 8h	5h 50m	$9K	$305K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against RISEx. 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 RISExbpFee Katana PerpsbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$80.62
Price spread: −0.063% → −0.068%: $0.47
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$89.95
Costs to cover: 0.098%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 13 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 RISEx live order book, 13 min ago	0.73 bp	3.7 bp −$4	8.7 bp −$87	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 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	1.5127	+0.096%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5128	+0.102%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5141	+0.188%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0026% / S +0.0050%	1h	1.5141	+0.186%	$800K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.961%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5146	+0.221%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5143	+0.202%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5139	+0.176%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5127	+0.096%	$509K	$3.2M	20x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5103	−0.063%	$9K	$305K	20x

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5135	+0.149%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5152	+0.261%	$280.2M	$220.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5145	+0.214%	$38.4M	$83.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5129	+0.110%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5126	+0.089%	$536.4M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5118	+0.036%	$342.1M	$925.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5118	+0.036%	$125.1M	$862.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5113	+0.003%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5117	+0.030%	$114K	$695K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5087	−0.172%	$1.6M	$161K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5117	+0.030%	$369.3M	$150.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5118	+0.036%	$292.7M	$892.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5140	+0.182%	$106.6M	$170.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5115	+0.016%	$266.4M	$379.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5114	+0.010%	—	$126.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5141	+0.185%	$6.0M	$36.0M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5102	−0.068%	$657K	$108.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5131	+0.124%	$1.1M	$35.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5108	−0.030%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5143	+0.199%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5148	+0.235%	$41K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5142	+0.195%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	+0.250%	$815K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5152	+0.260%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5160	+0.314%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5150	+0.249%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5165	+0.347%	$54.0M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5141	+0.187%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5112	0.000%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5146	+0.224%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0212%	1h	1.5158	+0.301%	$7.7M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5146	+0.219%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5166	+0.354%	$5.6M	$46.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0247%	1h	1.5159	+0.307%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5159	+0.308%	$14.5M	$72.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5118	+0.035%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0357%	8h	1.5143	+0.202%	$2.1M	$34.9M	2.9x	as long as short
RISEx XRP/USDClong	+0.0484%	1h	1.5113	long leg	$526K	$769K	10x
Phoenix XRP	+0.0528%	1h	1.5100	−0.083%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0716%	1h	1.5120	+0.049%	$2K	$14K	10x	as long as short