Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Gate−0.057%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.057%, 7d avg 0.000%

Together, before fees+0.051%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.058% cheaper against Gate than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5576	0.0100	pay 0.0100% / 8h	1h 35m	$374.3M	$138.1M	100x
Short	Lighter XRP	1.5567	0.0096	get 0.0012% / 1h	35m 08s	$3.0M	$12.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.057%Rate

Funding earned: −$0.84
Price spread: −0.057% → 0.000%: −$5.75
Slippage, 4 orders: −$9.29
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$30.89
Costs to cover: 0.243%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Lighter: 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, 4 min ago	0.32 bp	11.4 bp −$11	15.0 bp −$150	30.1 bp −$3,008	41.0 bp −$20.5K
Sell Lighter live order book, 3 min ago	1.74 bp	2.2 bp −$2	5.9 bp −$59	18.3 bp −$1,825	36.8 bp −$18.4K

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	1.5603	+0.173%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5544	−0.205%	$1.1M	$104K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5577	+0.010%	$261K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5574	−0.013%	$9.6M	$25.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.836%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5561	−0.096%	$15.5M	$68.1M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5577	+0.006%	$78K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0131%	1h	1.5576	0.000%	$918K	—	200x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5567	−0.057%	$3.0M	$12.0M	20x
Lighter RH XRP	+0.0096%	1h	1.5566	−0.064%	$456K	$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	1.5576	+0.003%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5572	−0.027%	$39.6M	$76.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5554	−0.138%	$671K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5562	−0.092%	$560.4M	$1.95B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5562	−0.090%	$348.9M	$882.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5558	−0.116%	$127.6M	$872.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5561	−0.096%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5574	−0.013%	$119K	$732K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.687%	$1.7M	$616K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5576	long leg	$374.3M	$138.1M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5560	−0.103%	$292.2M	$839.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5561	−0.094%	$114.3M	$157.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5559	−0.109%	$270.7M	$358.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5569	−0.045%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5595	+0.120%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5600	+0.152%	$677K	$100.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5597	+0.135%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	+0.443%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5572	−0.025%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5585	+0.058%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5576	−0.001%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5578	+0.012%	$839K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5567	−0.060%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5564	−0.077%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5567	−0.056%	$51.1M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5561	−0.096%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5552	−0.156%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5578	+0.013%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5572	−0.026%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5574	−0.013%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0136%	1h	1.5609	+0.210%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5581	+0.032%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5580	+0.025%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5576	0.000%	$5.8M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5551	−0.161%	$24.5M	$73.2M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0282%	1h	1.5571	−0.032%	$1.8M	$978K	25x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5564	−0.077%	$1.9M	$32.4M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5600	+0.154%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5585	+0.059%	$509K	$620K	10x	as long as short
Hyperliquid XRP	+0.0606%	1h	1.5600	+0.155%	$291.2M	$200.0M	20x	as long as short
Aftermath Perps XRPUSD	+0.0692%	1h	1.5621	+0.289%	$1K	$11K	10x	as long as short