Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.029%

Price spread now: Gate against Deribit−0.033%7-day average −0.028% · 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−$29as in the Price arb table

costs, in and out, $10k−$280.285% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 3 days (all we have)+0.175%+$17 · spread now −0.033%, 7d avg −0.028%

Together, before fees+0.066%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.109%, 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	Deribit XRP_USDC-PERPETUAL	1.5214	0	get 0.0000% / 1h	33m 25s	$9.1M	$24.1M	50x
Short	Gate XRP_USDT	1.5209	0.0100	get 0.0100% / 8h	2h 33m	$355.2M	$129.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.033%Rate

Funding earned: $21
Price spread: −0.033% → −0.028%: −$0.5
Slippage, 4 orders: −$6.46
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$7.96
Costs to cover: 0.285%
Break-even: 9.7 days

Slippage from Deribit: live order book, 1 min ago; Gate: live order book, 6 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 Deribit live order book, 1 min ago	0.66 bp	5.4 bp −$5	6.8 bp −$68	45.6 bp −$4,563	doesn't fit
Sell Gate live order book, 6 min ago	0.33 bp	8.9 bp −$9	12.6 bp −$126	31.5 bp −$3,145	43.1 bp −$21.6K

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
GMX XRP/USD [ETH-USDC]	L −0.0210% / S +0.0297%	1h	1.5211	−0.021%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5225	+0.072%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5219	+0.034%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5250	+0.237%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5214	long leg	$9.1M	$24.1M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5211	−0.018%	$255K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	+0.500%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5206	−0.053%	$177K	$788K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5227	+0.088%	$2.9M	$11.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5229	+0.099%	$442K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5208	−0.036%	$1.0M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5213	−0.005%	$38.7M	$71.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5218	+0.029%	$662K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5211	−0.020%	$544.0M	$1.84B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5212	−0.013%	$340.8M	$834.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5209	−0.033%	$122.6M	$825.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5253	+0.256%	$568K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5221	+0.046%	$114K	$646K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5260	+0.305%	$1.6M	$350K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5209	−0.033%	$355.2M	$129.7M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5211	−0.020%	$289.5M	$801.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5209	−0.031%	$112.2M	$147.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5210	−0.026%	$264.7M	$338.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5210	−0.026%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5254	+0.263%	$6.2M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5255	+0.270%	$662K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	+0.250%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5264	+0.329%	$1.0M	$848K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5216	+0.014%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5209	−0.033%	$50K	$474K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5211	−0.023%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5209	−0.032%	$819K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5213	−0.007%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5209	−0.033%	$28K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5227	+0.085%	$50.1M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5238	+0.158%	$54.5M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5217	+0.023%	$474K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5219	+0.033%	$12K	$245K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5207	−0.048%	$2.1M	$7.3M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5209	−0.033%	$71K	$40K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0128%	1h	1.5248	+0.223%	$1.7M	$923K	25x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5216	+0.013%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0171%	1h	1.5208	−0.041%	$15.2M	$63.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5242	+0.184%	$5.4M	$43.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5206	−0.056%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5251	+0.243%	$23.8M	$66.4M	125x	as long as short
Kalshi KXXRPPERP	+0.0221%	8h	1.5249	+0.230%	$1.7M	$31.6M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5235	+0.141%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5222	+0.053%	$403K	$496K	10x	as long as short
Hyperliquid XRP	+0.0444%	1h	1.5226	+0.077%	$279.4M	$180.2M	20x	as long as short
Aftermath Perps XRPUSD	+0.0552%	1h	1.5241	+0.176%	$1K	$10K	10x	as long as short