Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Gate against Katana Perps+0.026%7-day average +0.039% · you sell dearer than you buy

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

Long on Katana Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.029%+$3 on $10k

Price spread, last 7 days−0.013%−$1 · spread now +0.026%, 7d avg +0.039%

Together, before fees+0.016%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5118	0.0100	pay 0.0100% / 8h	6h 15m	$10K	$307K	20x
Short	Gate XRP_USDT	1.5122	0.0100	get 0.0100% / 8h	6h 15m	$367.8M	$152.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.026%Rate

Funding earned: $0.04
Price spread: +0.026% → +0.039%: −$1.25
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$20.01
Costs to cover: 0.188%
Break-even: 3182.5 days

Slippage unknown: Katana Perps: no order-book sample; Gate: live order book, 3 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 Gate live order book, 3 min ago	0.33 bp	10.2 bp −$10	12.5 bp −$125	26.3 bp −$2,633	37.2 bp −$18.6K

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	1.5131	+0.086%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5121	+0.020%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.278%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5118	+0.003%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0022% / S +0.0057%	1h	1.5120	+0.013%	$799K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.924%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5119	+0.009%	$14.5M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5122	+0.026%	$62K	$953K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5123	+0.033%	$7.6M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5127	+0.060%	$2.8M	$14.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5127	+0.060%	$510K	$3.3M	20x	as long as short
Katana Perps XRP-USDlong	+0.0100%	8h	1.5118	long leg	$10K	$307K	20x
Nado XRP-PERP	+0.0100%	1h	1.5120	+0.017%	$932K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5120	+0.011%	$38.3M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5128	+0.067%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5129	+0.073%	$536.8M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5129	+0.073%	$340.6M	$940.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5130	+0.079%	$124.1M	$871.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5130	+0.079%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5132	+0.093%	$114K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5125	+0.043%	$1.6M	$257K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5122	+0.026%	$367.8M	$152.8M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5129	+0.073%	$290.7M	$916.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5125	+0.048%	$106.9M	$171.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5127	+0.060%	$266.5M	$384.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5130	+0.079%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5120	+0.011%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5134	+0.105%	$657K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5152	+0.228%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5134	+0.106%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5130	+0.077%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5130	+0.079%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5129	+0.070%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5125	+0.047%	$814K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5133	+0.099%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5121	+0.020%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5122	+0.025%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5124	+0.040%	$53.8M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5129	+0.076%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5113	−0.034%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5122	+0.027%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5128	+0.066%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0184%	1h	1.5135	+0.112%	$280.1M	$222.3M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5125	+0.046%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5125	+0.046%	$5.7M	$46.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5128	+0.064%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0337%	1h	1.5129	+0.073%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0361%	8h	1.5131	+0.086%	$2.1M	$35.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5133	+0.100%	$529K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0767%	1h	1.5144	+0.171%	$2K	$14K	10x	as long as short