Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0069%/8h= +7.5% APRpaid last 24h +0.023%

Price spread now: Kraken Futures against Gate−0.035%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$400.404% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.134%−$13 · spread now −0.035%, 7d avg +0.008%

Together, before fees−0.083%−$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.043% cheaper against Gate than usual: you would sell low and buy high (spread −0.035% now, against its 7-day average of +0.008%). If the spread goes back, that is −$4 on $10k: about 2.1 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.051% in total) that is about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5447	0.0100	pay 0.0100% / 8h	2h 20m	$369.9M	$132.2M	100x
Short	Kraken Futures PF_XRPUSD	1.5442	0.0169	get 0.0021% / 1h	20m 14s	$15.6M	$64.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.035%Rate

Funding earned: $14.41
Price spread: −0.035% → +0.008%: −$4.26
Slippage, 4 orders: −$15.4
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$30.25
Costs to cover: 0.404%
Break-even: 21.7 days

Slippage from Gate: live order book, 4 min ago; Kraken Futures: live order book, 4 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, 4 min ago	0.33 bp	11.4 bp −$11	14.9 bp −$149	27.2 bp −$2,717	37.9 bp −$18.9K
Sell Kraken Futures live order book, 4 min ago	0.33 bp	8.0 bp −$8	11.6 bp −$116	24.0 bp −$2,405	53.5 bp −$26.7K

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	1.5456	+0.058%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5440	−0.048%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	−0.822%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5439	−0.050%	$259K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0009%	1h	1.5446	−0.006%	$9.4M	$24.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.016%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5447	0.000%	$80K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0073% / S +0.0182%	1h	1.5440	−0.044%	$909K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5442	−0.031%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5443	−0.026%	$448K	$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	1.5445	−0.014%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5448	+0.004%	$39.2M	$72.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5447	0.000%	$672K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5439	−0.050%	$553.8M	$1.86B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5439	−0.052%	$346.7M	$843.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5435	−0.078%	$125.2M	$842.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5398	−0.317%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5453	+0.039%	$116K	$654K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5447	long leg	$369.9M	$132.2M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5450	+0.019%	$290.9M	$811.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5452	+0.031%	$112.7M	$148.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5441	−0.039%	$266.8M	$343.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5443	−0.026%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5445	−0.015%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5357	−0.582%	$667K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5402	−0.291%	$1.1M	$42.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5381	−0.427%	$1.0M	$864K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5453	+0.039%	$50K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5443	−0.028%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5444	−0.019%	$832K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5444	−0.019%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5440	−0.045%	$34K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5439	−0.053%	$50.8M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5440	−0.045%	$55.2M	$28.3M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5438	−0.061%	$1.7M	$399K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5443	−0.023%	$481K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5439	−0.053%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5454	+0.045%	$12K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5442	−0.034%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5447	+0.002%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5463	+0.104%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSDshort	+0.0169%	1h	1.5442	−0.035%	$15.6M	$64.2M	50x
Backpack XRP_USDC_PERP	+0.0176%	1h	1.5471	+0.155%	$1.7M	$938K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5458	+0.071%	$5.5M	$44.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5447	−0.001%	$1.4M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5465	+0.117%	$23.8M	$68.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0241%	8h	1.5454	+0.045%	$1.7M	$31.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5460	+0.082%	$19K	$60K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5462	+0.094%	$407K	$498K	10x	as long as short
Hyperliquid XRP	+0.0498%	1h	1.5461	+0.091%	$285.2M	$187.1M	20x	as long as short
Aftermath Perps XRPUSD	+0.0537%	1h	1.5362	−0.553%	$1K	$11K	10x	as long as short