Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h −0.053%

Price spread now: edgeX against Katana Perps−0.538%55s7-day average +0.011% · you buy dearer than you sell

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

Long on Katana Perps Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.118%−$12 on $10k

Price spread, last 7 days+0.502%+$50 · spread now −0.538%, 7d avg +0.011%

Together, before fees+0.384%+ Points / potential airdropedgeX: Active · farm board+$38 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: edgeX is 0.548% cheaper against Katana Perps than usual: you would sell low and buy high, −$55 on $10k if it goes back to its 7-day average of +0.011%. The two prices were read 55 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	Katana Perps XRP-USD	1.5080	0.0100	pay 0.0100% / 8h	4h 23m	$12K	$243K	20x
Short	edgeX XRPUSDC	1.4999	0.0100	get 0.0050% / 4h	23m 41s	$651K	$88.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Katana Perps. 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 Katana PerpsbpFee edgeXbpOrdersPrice spread, now −0.538%Rate

Funding earned: $0.04
Price spread: −0.538% → +0.011%: −$54.81
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$67.56
Costs to cover: 0.128%
Break-even: 10731.5 days

Slippage unknown: Katana Perps: no order-book sample; edgeX: live order book, 5 min ago. 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 Katana Perps no order-book sample	—	—	—	—	—
Sell edgeX live order book, 5 min ago	1.00 bp	5.5 bp −$6	5.5 bp −$55	8.5 bp −$853	doesn't fit

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
GMX XRP/USD [ETH-USDC]	L −0.0208% / S +0.0294%	1h	1.5068	−0.081%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5079	−0.007%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5033	−0.315%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5062	−0.119%	$8.7M	$22.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5068	−0.082%	$243K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.4090	−6.565%	$2K	$33K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5058	−0.146%	$179K	$779K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5035	−0.301%	$2.9M	$10.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5041	−0.259%	$578K	$2.4M	20x	as long as short
Katana Perps XRP-USDlong	+0.0100%	8h	1.5080	long leg	$12K	$243K	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5075	−0.030%	$1.1M	$5.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5065	−0.099%	$38.3M	$68.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5034	−0.304%	$664K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5036	−0.292%	$531.5M	$1.74B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5038	−0.279%	$338.9M	$781.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5038	−0.279%	$125.6M	$788.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5017	−0.418%	$558K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5089	+0.060%	$122K	$596K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.4992	−0.582%	$1.6M	$138K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5051	−0.192%	$350.5M	$126.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5036	−0.292%	$308.2M	$759.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5035	−0.301%	$111.2M	$137.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5039	−0.272%	$259.2M	$320.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5038	−0.279%	—	$3.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5003	−0.508%	$6.9M	$20.6M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.4999	−0.538%	$651K	$88.6M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.4998	−0.544%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.4987	−0.617%	$1.0M	$790K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5065	−0.098%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5075	−0.033%	$50K	$421K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5064	−0.106%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5062	−0.123%	$811K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5057	−0.151%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5054	−0.172%	$32K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5047	−0.221%	$49.7M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5056	−0.159%	$54.1M	$27.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5034	−0.304%	$469K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5059	−0.136%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5053	−0.181%	$72K	$39K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5088	+0.053%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0164%	8h	1.5072	−0.053%	$1.7M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5062	−0.119%	$1.7M	$912K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0208%	1h	1.5061	−0.126%	$5.2M	$39.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0209%	1h	1.5066	−0.092%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5083	+0.020%	$23.6M	$59.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5078	−0.015%	$19K	$37K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0264%	1h	1.5057	−0.156%	$15.3M	$55.7M	50x	as long as short
Hyperliquid XRP	+0.0413%	1h	1.5053	−0.179%	$274.5M	$158.4M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5087	+0.044%	$405K	$473K	10x	as long as short
Aftermath Perps XRPUSD	+0.0523%	1h	1.5026	−0.357%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5020	−0.398%	$67K	$89K	15x	as long as short