Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0221%/8h= +24.2% APRpaid last 24h +0.016%

Price spread now: BloFin against Kraken Futures+0.050%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$10 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.050%, 7d avg +0.004%

Together, before fees+0.032%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.046% dearer against Kraken Futures than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.004%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.105% in total (about 5.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5081	−0.0001	get 0.0000% / 1h	44m 47s	$14.3M	$75.1M	50x
Short	BloFin XRP-USDT	1.5089	0.0220	get 0.0220% / 8h	2h 44m	$24.1M	$75.8M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Kraken Futures. 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 Kraken FuturesbpFee BloFinbpOrdersPrice spread, now +0.050%Rate

Funding earned: $46.42
Price spread: +0.050% → +0.004%: $4.6
Slippage, 4 orders: −$9.9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: $19.13
Costs to cover: 0.319%
Break-even: 4.1 days

Slippage from Kraken Futures: live order book, 4 min ago; BloFin: live order book, 4 min ago.

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 Kraken Futures live order book, 4 min ago	0.33 bp	11.0 bp −$11	14.3 bp −$143	23.0 bp −$2,303	44.1 bp −$22.1K
Sell BloFin live order book, 4 min ago	1.32 bp	7.3 bp −$7	8.2 bp −$82	11.5 bp −$1,154	20.1 bp −$10.0K

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	1.5088	+0.043%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0001%	1h	1.5081	long leg	$14.3M	$75.1M	50x
dYdX XRP-USD	0.0000%	1h	1.5083	+0.010%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5110	+0.189%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5082	+0.003%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5084	+0.017%	$257K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.173%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5091	+0.063%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5085	+0.026%	$791K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5082	+0.002%	$2.8M	$14.8M	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	1.5084	+0.017%	$496K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5084	+0.017%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5087	+0.035%	$937K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5090	+0.056%	$290.2M	$258.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5077	−0.031%	$38.6M	$86.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5093	+0.074%	$605K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5083	+0.010%	$530.6M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5085	+0.023%	$341.1M	$951.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5090	+0.056%	$125.2M	$888.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5111	+0.196%	$562K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5093	+0.076%	$137K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	+0.215%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5079	−0.017%	$371.1M	$155.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5078	−0.023%	$293.2M	$905.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5077	−0.029%	$107.4M	$179.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5085	+0.023%	$267.5M	$393.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5079	−0.017%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5084	+0.016%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5099	+0.119%	$656K	$111.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5088	+0.045%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5107	+0.169%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5092	+0.070%	$50K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5086	+0.031%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5080	−0.010%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5078	−0.023%	$811K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5095	+0.087%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5078	−0.023%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5090	+0.053%	$49.3M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5082	+0.003%	$53.7M	$31.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5091	+0.061%	$470K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5089	+0.049%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5073	−0.060%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5077	−0.030%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0136%	8h	1.5094	+0.083%	$1.8M	$35.6M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0180%	1h	1.5088	+0.043%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5087	+0.036%	$5.6M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5088	+0.042%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDTshort	+0.0220%	8h	1.5089	+0.050%	$24.1M	$75.8M	125x
Hibachi XRP/USDT-P	+0.0232%	1h	1.5088	+0.041%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5092	+0.067%	$515K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0623%	1h	1.5107	+0.167%	$2K	$15K	10x	as long as short