Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0101%/8h= +11.1% APRpaid last 24h −0.029%

Price spread now: Orderly against Kraken Futures−0.043%7-day average −0.012% · you buy dearer than you sell

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

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.043%, 7d avg −0.012%

Together, before fees−0.092%−$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.031% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.043% now, against its 7-day average of −0.012%). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.119%, 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	1.5149	−0.0001	get 0.0000% / 1h	10m 44s	$14.2M	$74.6M	50x
Short	Orderly PERP_XRP_USDC	1.5143	0.0100	get 0.0100% / 8h	2h 10m	$62K	$932K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.043%Rate

Funding earned: $21.22
Price spread: −0.043% → −0.012%: −$3.11
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $2.12
Costs to cover: 0.160%
Break-even: 6.3 days

Slippage unknown: Kraken Futures: live order book, 3 min ago; Orderly: 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, 3 min ago	0.99 bp	8.6 bp −$9	9.0 bp −$90	17.8 bp −$1,777	37.8 bp −$18.9K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	1.5099	−0.333%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0001%	1h	1.5149	long leg	$14.2M	$74.6M	50x
dYdX XRP-USD	0.0000%	1h	1.5152	+0.014%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	−0.393%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5143	−0.044%	$245K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.710%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0072% / S −0.0017%	1h	1.5141	−0.059%	$799K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5152	+0.017%	$7.8M	$25.4M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5145	−0.030%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5154	+0.030%	$2.8M	$15.1M	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	1.5155	+0.037%	$548K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5136	−0.089%	$10K	$361K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5138	−0.072%	$983K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5155	+0.037%	$38.5M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5143	−0.044%	$602K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5156	+0.040%	$527.4M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5152	+0.017%	$344.2M	$966.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5153	+0.023%	$126.5M	$887.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5137	−0.082%	$563K	$35K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5148	−0.010%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5132	−0.116%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5149	−0.003%	$372.3M	$161.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5148	−0.010%	$296.8M	$926.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5146	−0.025%	$106.9M	$181.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5150	+0.003%	$266.2M	$398.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5150	+0.003%	—	$106.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	−0.044%	$4.6M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5116	−0.218%	$656K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5088	−0.406%	$1.1M	$37.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5129	−0.135%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5146	−0.022%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5151	+0.010%	$51K	$488K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5142	−0.049%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDCshort	+0.0100%	8h	1.5143	−0.043%	$62K	$932K	50x
Derive XRP-PERP	+0.0100%	1h	1.5147	−0.020%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5154	+0.033%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5148	−0.010%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5149	−0.002%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5141	−0.056%	$53.9M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5152	+0.017%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5141	−0.055%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5145	−0.032%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0137%	1h	1.5166	+0.109%	$289.7M	$262.7M	20x	as long as short
Hibachi XRP/USDT-P	+0.0176%	1h	1.5130	−0.129%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5151	+0.010%	$5.7M	$48.5M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5155	+0.037%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0213%	8h	1.5148	−0.010%	$1.7M	$35.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5145	−0.028%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5145	−0.030%	$23.2M	$77.4M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5148	−0.008%	$520K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0591%	1h	1.5103	−0.309%	$2K	$16K	10x	as long as short