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: Kraken Futures against SunX−0.013%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$640.641% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now −0.013%, 7d avg −0.019%

Together, before fees+0.008%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5313	0.0100	pay 0.0100% / 8h	5h 47m	$128K	$1.5M	30x
Short	Kraken Futures PF_XRPUSD	1.5311	−0.0062	pay 0.0008% / 1h	47m 07s	$14.0M	$70.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$34.11
Price spread: −0.013% → −0.019%: $0.66
Slippage, 4 orders: −$46.12
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$97.58
Costs to cover: 0.641%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Kraken Futures: live order book, 5 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 SunX live order book, 11 min ago	16.64 bp	21.3 bp −$21	24.7 bp −$247	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	0.33 bp	9.0 bp −$9	12.8 bp −$128	22.2 bp −$2,223	41.1 bp −$20.6K

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	1.5403	+0.586%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSDshort	−0.0062%	1h	1.5311	−0.013%	$14.0M	$70.7M	50x
dYdX XRP-USD	0.0000%	1h	1.5329	+0.101%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5340	+0.174%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5313	−0.002%	$7.8M	$21.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5311	−0.016%	$245K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5304	−0.061%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.611%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0055%	1h	1.5310	−0.022%	$29K	$1.5M	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5310	−0.022%	$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	1.5315	+0.011%	$598K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5331	+0.118%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5308	−0.035%	$10K	$399K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5314	+0.008%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5323	+0.063%	$298.5M	$266.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5320	+0.044%	$39.3M	$81.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5332	+0.122%	$592K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5318	+0.031%	$534.0M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5321	+0.050%	$361.5M	$887.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5320	+0.044%	$124.7M	$834.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5321	+0.050%	$563K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5316	+0.018%	$164K	$681K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5379	+0.429%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5315	+0.011%	$381.5M	$156.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5308	−0.035%	$312.7M	$890.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5310	−0.023%	$105.8M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5321	+0.050%	$271.8M	$356.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5314	+0.005%	—	$99.3M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5323	+0.063%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5325	+0.074%	$5.0M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5326	+0.085%	$666K	$109.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.097%	$1.1M	$30.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5341	+0.181%	$1.2M	$1.2M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5311	−0.015%	$52K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5310	−0.025%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5310	−0.022%	$83K	$613K	50x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5313	long leg	$128K	$1.5M	30x
HTX XRP-USDT	+0.0100%	8h	1.5321	+0.053%	$50.0M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5312	−0.008%	$54.6M	$33.3M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5318	+0.033%	—	$15K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5314	+0.007%	$2.2M	$6.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5305	−0.057%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0112%	1h	1.5321	+0.052%	$17K	$76K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5316	+0.018%	$5.4M	$43.9M	50x	as long as short
Kalshi KXXRPPERP	+0.0135%	8h	1.5336	+0.148%	$1.9M	$35.1M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0209% / S −0.0580%	1h	1.5310	−0.020%	$804K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5315	+0.011%	$23.9M	$78.1M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5306	−0.047%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5328	+0.099%	$515K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0442%	1h	1.5346	+0.215%	$3K	$13K	10x	as long as short