Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0001%/8h= −0.1% APRpaid last 24h 0.000%

Price spread now: Katana Perps against Derive+0.367%701s7-day average −0.019% · you sell dearer than you buy

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

Long on Derive Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.248%−$25 · spread now +0.367%, 7d avg −0.019%

Together, before fees−0.285%−$28 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 0.386% dearer against Derive than usual: you sell high and buy low, +$39 on $10k if it goes back to its 7-day average of −0.019%. The two prices were read 701 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	Derive XRP-PERP	1.5148	0.0100	pay 0.0013% / 1h	24m 37s	$815K	$72K	10x
Short	Katana Perps XRP-USD	1.5204	0.0099	get 0.0099% / 8h	1h 24m	$10K	$372K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Derive. 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 DerivebpFee Katana PerpsbpOrdersPrice spread, now +0.367%Rate

Funding earned: −$0.19
Price spread: +0.367% → −0.019%: $38.63
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $28.64
Costs to cover: 0.098%
Break-even: from the start

Slippage unknown: Derive: no order-book sample; 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 Derive no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

Derive and 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	1.5213	+0.426%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5221	+0.477%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.407%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5226	+0.512%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5220	+0.473%	$7.7M	$24.8M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5216	+0.446%	$14.4M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.717%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0085% / S −0.0035%	1h	1.5204	+0.369%	$802K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5215	+0.439%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5212	+0.420%	$547K	$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-USDshort	+0.0099%	8h	1.5204	+0.367%	$10K	$372K	20x
Nado XRP-PERP	+0.0100%	1h	1.5232	+0.549%	$991K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5212	+0.420%	$38.6M	$87.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5214	+0.433%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5211	+0.412%	$533.7M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5209	+0.400%	$346.8M	$963.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5212	+0.420%	$127.5M	$886.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5198	+0.327%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5219	+0.466%	$145K	$716K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5209	+0.400%	$377.5M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5212	+0.420%	$304.6M	$927.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5214	+0.432%	$107.8M	$182.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5209	+0.400%	$268.4M	$397.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5212	+0.420%	—	$105.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5222	+0.485%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5198	+0.328%	$660K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5212	+0.419%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5207	+0.387%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5235	+0.569%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5240	+0.605%	$47K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5226	+0.512%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5221	+0.479%	$65K	$773K	50x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5148	long leg	$815K	$72K	10x
SunX XRP-USDT	+0.0100%	8h	1.5225	+0.507%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5218	+0.459%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5230	+0.540%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5216	+0.446%	$54.5M	$32.5M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5157	+0.057%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5222	+0.489%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5207	+0.386%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5217	+0.453%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5215	+0.440%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5226	+0.513%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5222	+0.486%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0190%	1h	1.5220	+0.473%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0201%	1h	1.5228	+0.525%	$289.5M	$264.6M	20x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5227	+0.519%	$1.8M	$35.2M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5228	+0.526%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5220	+0.473%	$23.7M	$78.1M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5216	+0.450%	$533K	$801K	10x	as long as short
Aftermath Perps XRPUSD	+0.0616%	1h	1.5192	+0.290%	$2K	$16K	10x	as long as short