Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.007%

Price spread now: Katana Perps against 01 Exchange−0.065%7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Katana Perps is 0.065% cheaper against 01 Exchange than usual: you would sell low and buy high (spread −0.065% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	01 Exchange XRPUSD	1.5335	0	get 0.0000% / 1h	3m 05s	$9K	$987	10x
Short	Katana Perps XRP-USD	1.5325	0.0100	get 0.0100% / 8h	5h 03m	$10K	$410K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against 01 Exchange. 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 01 ExchangebpFee Katana PerpsbpOrdersPrice spread, now −0.065%Rate

Funding earned: $20.96
Price spread: −0.065% → 0.000%: −$6.52
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: $3.63
Costs to cover: 0.108%
Break-even: 5.8 days

Slippage unknown: 01 Exchange: no order-book sample; 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Katana Perps no order-book sample	—	—	—	—	—

01 Exchange and 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	1.5387	+0.339%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5330	−0.032%	$13.8M	$69.3M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5327	−0.055%	$1.1M	$154K	10x	as long as short
01 Exchange XRPUSDlong	0.0000%	1h	1.5335	long leg	$9K	$987	10x
Phoenix XRP	0.0000%	1h	1.5330	−0.033%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5336	+0.007%	$7.7M	$20.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5325	−0.066%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.467%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5322	−0.083%	$17K	$70K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5332	−0.017%	$2.8M	$14.2M	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	1.5335	0.000%	$599K	$3.2M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5329	−0.042%	$478K	$47K	50x	as long as short
Katana Perps XRP-USDshort	+0.0100%	8h	1.5325	−0.065%	$10K	$410K	20x
Nado XRP-PERP	+0.0100%	1h	1.5324	−0.075%	$838K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5339	+0.026%	$297.5M	$264.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5326	−0.059%	$38.9M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5328	−0.046%	$589K	$987K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5325	−0.065%	$533.2M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5325	−0.065%	$361.3M	$859.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5324	−0.072%	$124.1M	$823.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5313	−0.143%	$562K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5331	−0.026%	$163K	$694K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5328	−0.046%	$378.2M	$161.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5325	−0.065%	$317.4M	$909.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5329	−0.038%	$105.0M	$180.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5326	−0.059%	$271.3M	$349.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5324	−0.072%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5324	−0.069%	$4.9M	$38.0M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5321	−0.092%	$667K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5326	−0.061%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5330	−0.033%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5329	−0.038%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5332	−0.020%	$52K	$470K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5330	−0.035%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5333	−0.013%	$83K	$601K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5303	−0.209%	$823K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5332	−0.022%	$129K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5330	−0.033%	$32K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5318	−0.108%	$49.9M	$13.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5329	−0.039%	$54.7M	$33.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5324	−0.068%	$1.6M	$66K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5327	−0.049%	$2.2M	$6.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5328	−0.044%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5336	+0.007%	$5.4M	$42.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0116%	8h	1.5335	0.000%	$1.9M	$35.4M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0161%	1h	1.5337	+0.013%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5325	−0.065%	$23.7M	$77.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5324	−0.074%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5329	−0.040%	$507K	$723K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0245% / S −0.0472%	1h	1.5328	−0.047%	$886K	—	200x	as long as short
Aftermath Perps XRPUSD	+0.0371%	1h	1.5314	−0.135%	$3K	$13K	10x	as long as short