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: KuCoin against Katana Perps−0.038%7-day average +0.047% · you buy dearer than you sell

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

Long on Katana Perps Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.015%+$1 on $10k

Price spread, last 7 days+0.055%+$5 · spread now −0.038%, 7d avg +0.047%

Together, before fees+0.069%+$7 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: KuCoin is 0.085% cheaper against Katana Perps than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Katana Perps XRP-USD	1.5092	0.0100	pay 0.0100% / 8h	6h 37m	$10K	$307K	20x
Short	KuCoin XRPUSDTM	1.5086	0.0100	get 0.0100% / 8h	6h 37m	$106.4M	$172.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0.04
Price spread: −0.038% → +0.047%: −$8.45
Slippage, 4 orders: no order book: not counted
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$24.21
Costs to cover: 0.158%
Break-even: 3849.5 days

Slippage unknown: Katana Perps: no order-book sample; KuCoin: live order book, 7 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 KuCoin live order book, 7 min ago	0.10 bp	11.2 bp −$11	15.1 bp −$151	37.5 bp −$3,753	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5078	−0.093%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5091	−0.007%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5100	+0.053%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5082	−0.070%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0021% / S +0.0063%	1h	1.5088	−0.026%	$827K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.101%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5088	−0.025%	$14.6M	$72.9M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0070%	8h	1.5083	−0.060%	$57K	$945K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5088	−0.029%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5092	0.000%	$515K	$3.3M	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-USDlong	+0.0100%	8h	1.5092	long leg	$10K	$307K	20x
Nado XRP-PERP	+0.0100%	1h	1.5098	+0.043%	$795K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5085	−0.045%	$38.4M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5104	+0.077%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5096	+0.027%	$536.1M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5095	+0.020%	$339.3M	$945.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5096	+0.027%	$123.4M	$871.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5090	−0.013%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5102	+0.066%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.602%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5094	+0.013%	$366.1M	$151.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5092	0.000%	$287.1M	$906.1M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5086	−0.038%	$106.4M	$172.4M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5098	+0.040%	$265.0M	$385.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5092	0.000%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5098	+0.041%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5093	+0.007%	$655K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5084	−0.055%	$1.1M	$38.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5108	+0.106%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5096	+0.029%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5100	+0.053%	$45K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5097	+0.033%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5085	−0.046%	$812K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5100	+0.053%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5091	−0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5088	−0.024%	$49.4M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5092	0.000%	$53.6M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5103	+0.074%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5093	+0.005%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5083	−0.060%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5102	+0.066%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0148%	1h	1.5091	−0.007%	$7.6M	$25.4M	50x	as long as short
Hyperliquid XRP	+0.0196%	1h	1.5111	+0.126%	$279.4M	$220.8M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5095	+0.022%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5093	+0.007%	$5.7M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.669%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5089	−0.022%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0330%	1h	1.5105	+0.086%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0340%	8h	1.5097	+0.033%	$2.1M	$36.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5106	+0.090%	$535K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0805%	1h	1.5109	+0.113%	$2K	$14K	10x	as long as short