Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0101%/8h= +11.0% APRpaid last 24h +0.028%

Price spread now: Katana Perps against Deribit+0.052%7-day average −0.043% · you sell dearer than you buy

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

Long on Deribit Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 3 days (all we have)+0.014%+$1 · spread now +0.052%, 7d avg −0.043%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Katana Perps is 0.095% dearer against Deribit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5495	0	get 0.0000% / 1h	39m 58s	$9.6M	$25.4M	50x
Short	Katana Perps XRP-USD	1.5503	0.0101	get 0.0101% / 8h	39m 58s	$12K	$268K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Deribit. 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 DeribitbpFee Katana PerpsbpOrdersPrice spread, now +0.052%Rate

Funding earned: $21.12
Price spread: +0.052% → −0.043%: $9.5
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $19.82
Costs to cover: 0.108%
Break-even: 0.4 days

Slippage unknown: Deribit: live order book, 4 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 Deribit live order book, 4 min ago	0.32 bp	4.2 bp −$4	6.1 bp −$61	43.0 bp −$4,301	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 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	1.5503	+0.052%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5507	+0.075%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5550	+0.355%	$69K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5495	long leg	$9.6M	$25.4M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5495	+0.002%	$259K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0103%	1h	1.5495	−0.001%	$852K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5492	−0.018%	$15.5M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0057%	8h	1.5494	−0.006%	$76K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+0.419%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5496	+0.003%	$3.0M	$12.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5497	+0.013%	$441K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5500	+0.035%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5500	+0.032%	$39.4M	$80.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5505	+0.065%	$638K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5502	+0.043%	$555.2M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5507	+0.077%	$346.5M	$918.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5501	+0.039%	$126.7M	$885.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5546	+0.329%	$578K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5504	+0.058%	$116K	$754K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5506	+0.070%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5494	−0.006%	$373.5M	$144.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5500	+0.032%	$296.0M	$872.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5501	+0.036%	$113.0M	$163.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5499	+0.026%	$271.3M	$370.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5496	+0.006%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5522	+0.171%	$11.6M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5600	+0.680%	$677K	$103.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5556	+0.393%	$1.1M	$40.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5597	+0.658%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5504	+0.055%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5498	+0.019%	$48K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5497	+0.013%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5495	+0.003%	$834K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5498	+0.023%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5493	−0.013%	$33K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5501	+0.041%	$50.9M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5493	−0.013%	$55.1M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5506	+0.073%	$483K	$54K	50x	as long as short
Katana Perps XRP-USDshort	+0.0101%	8h	1.5503	+0.052%	$12K	$268K	20x
Extended XRP-USD	+0.0104%	1h	1.5496	+0.007%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5493	−0.014%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5503	+0.052%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5495	−0.001%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5514	+0.123%	$24.5M	$74.4M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5504	+0.058%	$5.9M	$47.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5527	+0.207%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5507	+0.077%	$2.0M	$34.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0331%	1h	1.5503	+0.052%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0605%	1h	1.5512	+0.110%	$294.8M	$209.8M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5510	+0.096%	$504K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0807%	1h	1.5564	+0.443%	$1K	$11K	10x	as long as short