Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.025%

Price spread now: Gate against Coinbase International−0.104%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$350.348% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 3 days (all we have)+0.133%+$13 · spread now −0.104%, 7d avg −0.031%

Together, before fees+0.095%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Gate is 0.073% cheaper against Coinbase International than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5336	0.0224	pay 0.0028% / 1h	4m 05s	$5.8M	$46.8M	50x
Short	Gate XRP_USDT	1.5320	0.0100	get 0.0100% / 8h	4m 05s	$361.3M	$149.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. 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 Coinbase InternationalbpFee GatebpOrdersPrice spread, now −0.104%Rate

Funding earned: −$26.04
Price spread: −0.104% → −0.031%: −$7.29
Slippage, 4 orders: −$9.81
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$68.14
Costs to cover: 0.348%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; Gate: 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 Coinbase International live order book, 5 min ago	0.65 bp	6.8 bp −$7	9.3 bp −$93	20.8 bp −$2,075	doesn't fit
Sell Gate live order book, 5 min ago	0.33 bp	10.1 bp −$10	13.3 bp −$133	27.3 bp −$2,726	40.1 bp −$20.0K

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	1.5315	−0.137%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5322	−0.094%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5330	−0.039%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5327	−0.057%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0091%	1h	1.5326	−0.067%	$840K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5328	−0.052%	$9.3M	$25.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5325	−0.070%	$15.0M	$69.9M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5330	−0.039%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.461%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5326	−0.067%	$2.8M	$13.8M	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	1.5330	−0.039%	$511K	$3.3M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5328	−0.049%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5328	−0.054%	$38.8M	$82.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5326	−0.065%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5323	−0.085%	$540.8M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5323	−0.085%	$338.8M	$930.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5320	−0.104%	$125.2M	$882.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5324	−0.078%	$570K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5328	−0.052%	$117K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5333	−0.019%	$1.7M	$570K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5320	−0.104%	$361.3M	$149.4M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5328	−0.052%	$296.0M	$898.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5324	−0.078%	$108.4M	$166.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5319	−0.111%	$267.6M	$377.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5319	−0.111%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5290	−0.297%	$8.2M	$33.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5317	−0.121%	$665K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5343	+0.046%	$1.1M	$40.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5301	−0.228%	$1.0M	$901K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5320	−0.106%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5331	−0.033%	$46K	$456K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5328	−0.049%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5331	−0.033%	$825K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5330	−0.039%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5325	−0.072%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5329	−0.045%	$50.3M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5325	−0.072%	$54.6M	$29.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5323	−0.083%	$478K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5321	−0.098%	$11K	$270K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5322	−0.094%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5326	−0.066%	$71K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5329	−0.046%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5326	−0.062%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5301	−0.228%	$24.1M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0224%	1h	1.5336	long leg	$5.8M	$46.8M	50x
Backpack XRP_USDC_PERP	+0.0263%	1h	1.5331	−0.033%	$1.7M	$1.1M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5295	−0.268%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5325	−0.072%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0558%	1h	1.5334	−0.013%	$290.0M	$215.9M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5331	−0.034%	$529K	$744K	10x	as long as short
Aftermath Perps XRPUSD	+0.0789%	1h	1.5332	−0.025%	$1K	$11K	10x	as long as short