Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0162%/8h= +17.8% APRpaid last 24h −0.006%

Price spread now: Katana Perps against Kraken Futures−0.176%7-day average −0.021% · you buy dearer than you sell

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

Long on Kraken Futures Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.093%−$9 on $10k

Price spread, last 4 days (all we have)+0.331%+$33 · spread now −0.176%, 7d avg −0.021%

Together, before fees+0.237%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Katana Perps is 0.155% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.176% now, against its 7-day average of −0.021%). If the spread goes back, that is −$15 on $10k: about 3.2 days of funding at the current rate (+$5 a day). Mind the row above: over the last 4 days funding on this pair cost −0.093%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5253	−0.0063	get 0.0008% / 1h	26m 26s	$13.8M	$69.7M	50x
Short	Katana Perps XRP-USD	1.5226	0.0100	get 0.0100% / 8h	5h 26m	$11K	$406K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.176%Rate

Funding earned: $34.12
Price spread: −0.176% → −0.021%: −$15.48
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $4.84
Costs to cover: 0.138%
Break-even: 6.0 days

Slippage unknown: Kraken Futures: live order book, 6 min ago; 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 Kraken Futures live order book, 6 min ago	2.29 bp	9.3 bp −$9	13.2 bp −$132	23.9 bp −$2,389	47.7 bp −$23.9K
Sell Katana Perps no order-book sample	—	—	—	—	—

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 exchanges

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	1.5380	+0.833%	$5K	$4K	20x	as long as short
01 Exchange XRPUSD	−0.0064%	1h	1.5232	−0.137%	$9K	$987	10x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0063%	1h	1.5253	long leg	$13.8M	$69.7M	50x
dYdX XRP-USD	0.0000%	1h	1.5237	−0.107%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5260	+0.047%	$68K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5253	+0.001%	$7.6M	$20.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5258	+0.035%	$241K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.013%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5252	−0.004%	$17K	$71K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5236	−0.111%	$2.8M	$14.1M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5241	−0.078%	$590K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5230	−0.153%	$475K	$47K	50x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5226	−0.176%	$11K	$406K	20x
Nado XRP-PERP	+0.0100%	1h	1.5237	−0.101%	$1.1M	$5.8M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5244	−0.058%	$295.2M	$267.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5232	−0.137%	$38.7M	$80.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5238	−0.096%	$586K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5233	−0.130%	$529.7M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5232	−0.137%	$357.5M	$866.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5232	−0.137%	$123.5M	$820.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5242	−0.071%	$560K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5231	−0.143%	$162K	$696K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5230	−0.150%	$1.6M	$36K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5232	−0.137%	$375.7M	$159.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5231	−0.143%	$304.8M	$901.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5230	−0.148%	$104.3M	$181.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5231	−0.143%	$269.5M	$353.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5230	−0.150%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5257	+0.026%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5257	+0.027%	$663K	$107.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5255	+0.014%	$1.1M	$32.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5264	+0.073%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5240	−0.088%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5234	−0.124%	$52K	$471K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5230	−0.148%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5232	−0.137%	$83K	$601K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5252	−0.009%	$128K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5250	−0.019%	$32K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5245	−0.050%	$49.7M	$13.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5252	−0.006%	$54.3M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5218	−0.227%	$2.2M	$6.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5245	−0.052%	$59K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0106%	1h	1.5263	+0.066%	$2.0M	$1.2M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5254	+0.007%	$5.5M	$42.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0127%	8h	1.5265	+0.079%	$1.9M	$35.4M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5254	+0.007%	$23.7M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5226	−0.173%	$1.3M	$1K	15x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0228% / S −0.0468%	1h	1.5251	−0.010%	$858K	—	200x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5236	−0.112%	$512K	$726K	10x	as long as short
Aftermath Perps XRPUSD	+0.0347%	1h	1.5259	+0.042%	$3K	$13K	10x	as long as short