Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.030%

Price spread now: Coinbase International against Gate−0.013%7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now −0.013%, 7d avg +0.028%

Together, before fees+0.036%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.041% cheaper against Gate than usual: you would sell low and buy high (spread −0.013% now, against its 7-day average of +0.028%). If the spread goes back, that is −$4 on $10k: about 40 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.051% in total) that is about 5.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5051	0.0100	pay 0.0100% / 8h	2h 21m	$369.1M	$159.7M	100x
Short	Coinbase International XRP-PERP-INTX	1.5049	0.0184	get 0.0023% / 1h	21m 18s	$5.6M	$48.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now −0.013%Rate

Funding earned: $17.64
Price spread: −0.013% → +0.028%: −$4.15
Slippage, 4 orders: −$13.59
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$25.09
Costs to cover: 0.386%
Break-even: 17.0 days

Slippage from Gate: live order book, 3 min ago; Coinbase International: live order book, 3 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 Gate live order book, 3 min ago	0.33 bp	13.1 bp −$13	16.1 bp −$161	31.1 bp −$3,114	43.0 bp −$21.5K
Sell Coinbase International live order book, 3 min ago	0.33 bp	6.5 bp −$7	10.3 bp −$103	30.1 bp −$3,006	doesn't fit

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	1.5052	+0.007%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5043	−0.053%	$14.1M	$74.6M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5050	−0.009%	$1.1M	$130K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.4980	−0.472%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5047	−0.027%	$243K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0016%	1h	1.5046	−0.033%	$7.7M	$25.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.382%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5044	−0.044%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5066	+0.100%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5053	+0.013%	$2.8M	$15.0M	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	1.5058	+0.047%	$545K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5053	+0.013%	$10K	$359K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5064	+0.083%	$985K	$6.3M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5072	+0.140%	$287.5M	$261.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5051	−0.001%	$38.3M	$87.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5057	+0.041%	$602K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5051	−0.001%	$523.0M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5046	−0.033%	$342.3M	$964.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5046	−0.033%	$125.1M	$879.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.4996	−0.365%	$560K	$31K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5067	+0.106%	$144K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5026	−0.163%	$1.6M	$5K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5051	long leg	$369.1M	$159.7M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5051	0.000%	$286.5M	$921.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5064	+0.084%	$105.0M	$180.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5038	−0.086%	$263.7M	$397.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5052	+0.007%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.4960	−0.604%	$4.7M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5000	−0.340%	$651K	$113.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5028	−0.153%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5002	−0.326%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5068	+0.113%	$51K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5054	+0.020%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5047	−0.027%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5043	−0.053%	$809K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5051	+0.002%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5046	−0.033%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5046	−0.035%	$49.2M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5045	−0.040%	$53.6M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5063	+0.083%	$470K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5060	+0.060%	—	$15K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5039	−0.079%	$1.9M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5042	−0.062%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0160%	8h	1.5037	−0.093%	$1.7M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0173%	1h	1.5068	+0.113%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0184%	1h	1.5049	−0.013%	$5.6M	$48.1M	50x
Hibachi XRP/USDT-P	+0.0192%	1h	1.5040	−0.074%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5054	+0.018%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5005	−0.306%	$23.2M	$76.4M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5065	+0.095%	$518K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0614%	1h	1.5017	−0.225%	$2K	$16K	10x	as long as short