Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Katana Perps against SoDEX−0.105%7-day average −0.010% · you buy dearer than you sell

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

Long on SoDEX Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.019%−$2 on $10k

Price spread, last 4 days (all we have)+0.211%+$21 · spread now −0.105%, 7d avg −0.010%

Together, before fees+0.191%+$19 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: Katana Perps is 0.094% cheaper against SoDEX than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX XRP-USD	1.5307	0.0100	pay 0.0013% / 1h	43m 12s	$30K	$1.4M	10x
Short	Katana Perps XRP-USD	1.5291	0.0100	get 0.0100% / 8h	4h 43m	$10K	$412K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against SoDEX. 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 SoDEXbpFee Katana PerpsbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$0.04
Price spread: −0.105% → −0.010%: −$9.41
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$21.25
Costs to cover: 0.118%
Break-even: never at this rate

Slippage unknown: SoDEX: live order book, 4 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 SoDEX live order book, 4 min ago	0.33 bp	4.3 bp −$4	6.5 bp −$65	doesn't fit	doesn't fit
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 51 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	1.5360	+0.346%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0077%	1h	1.5312	+0.035%	$13.7M	$68.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5303	−0.027%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5290	−0.111%	$68K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5311	+0.026%	$7.6M	$19.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5302	−0.034%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.653%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5304	−0.020%	$9K	$987	10x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5299	−0.050%	$17K	$68K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5312	+0.035%	$2.7M	$13.5M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5315	+0.052%	$574K	$3.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5310	+0.020%	$5.5M	$41.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5306	−0.009%	$477K	$47K	50x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5291	−0.105%	$10K	$412K	20x
Nado XRP-PERP	+0.0100%	1h	1.5298	−0.056%	$847K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5313	+0.039%	$297.8M	$261.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5308	+0.007%	$39.0M	$79.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5305	−0.013%	$590K	$978K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5309	+0.016%	$532.7M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5314	+0.046%	$361.7M	$853.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5310	+0.020%	$123.6M	$819.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5259	−0.314%	$561K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5304	−0.020%	$161K	$690K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5288	−0.121%	$1.6M	$66K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5301	−0.039%	$375.9M	$157.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5308	+0.007%	$319.0M	$880.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5305	−0.012%	$104.0M	$180.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5316	+0.059%	$270.9M	$346.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5297	−0.065%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5263	−0.290%	$4.9M	$37.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5286	−0.137%	$664K	$106.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5298	−0.057%	$1.1M	$32.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5299	−0.052%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5303	−0.024%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5302	−0.033%	$50K	$471K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5302	−0.032%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5305	−0.013%	$83K	$602K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5309	+0.012%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5303	−0.025%	$129K	$1.4M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5307	long leg	$30K	$1.4M	10x
HTX XRP-USDT	+0.0100%	8h	1.5286	−0.136%	$49.8M	$13.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5308	+0.007%	$54.7M	$33.1M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5301	−0.037%	$2.2M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5303	−0.026%	$59K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0108%	8h	1.5302	−0.033%	$1.9M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0166%	1h	1.5306	−0.007%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5299	−0.052%	$23.8M	$77.3M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5297	−0.067%	$1.4M	$1K	15x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0264% / S −0.0531%	1h	1.5302	−0.032%	$882K	—	200x	as long as short
RISEx XRP/USDC	+0.0300%	1h	1.5305	−0.013%	$506K	$721K	10x	as long as short
Aftermath Perps XRPUSD	+0.0388%	1h	1.5293	−0.091%	$3K	$13K	10x	as long as short