Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter RH against Gate+0.046%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Gate Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days−0.035%−$4 · spread now +0.046%, 7d avg −0.012%

Together, before fees−0.081%+ Points / potential airdropLighter RH: Points live · farm board−$8 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 RH is 0.058% dearer against Gate than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5220	0.0100	pay 0.0100% / 8h	40m 32s	$379.5M	$160.2M	100x
Short	Lighter RH XRP	1.5227	0.0096	get 0.0012% / 1h	40m 32s	$601K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$0.84
Price spread: +0.046% → −0.012%: $5.77
Slippage, 4 orders: −$9.88
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$19.95
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Lighter RH: 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	0.33 bp	10.3 bp −$10	12.8 bp −$128	28.8 bp −$2,876	41.3 bp −$20.6K
Sell Lighter RH live order book, 3 min ago	1.31 bp	1.3 bp −$1	3.5 bp −$35	36.4 bp −$3,638	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	1.5226	+0.039%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5233	+0.089%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5237	+0.112%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5240	+0.131%	$7.8M	$24.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.234%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5231	+0.074%	$14.6M	$73.8M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5227	+0.049%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5227	+0.046%	$601K	$3.2M	20x
Katana Perps XRP-USD	+0.0099%	8h	1.5214	−0.039%	$12K	$372K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0100% / S −0.0059%	1h	1.5237	+0.111%	$786K	—	200x	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	1.5223	+0.019%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5221	+0.009%	$38.6M	$86.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5228	+0.054%	$614K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5214	−0.039%	$532.9M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5215	−0.033%	$350.4M	$956.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5216	−0.026%	$128.3M	$875.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5224	+0.026%	$567K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5227	+0.046%	$145K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5191	−0.194%	$1.6M	$5K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5220	long leg	$379.5M	$160.2M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5225	+0.033%	$314.8M	$920.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5227	+0.046%	$107.1M	$184.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5216	−0.026%	$269.0M	$391.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5225	+0.033%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5226	+0.036%	$5.0M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5232	+0.078%	$663K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5252	+0.208%	$1.1M	$35.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	+0.191%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5227	+0.048%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5220	0.000%	$50K	$510K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5232	+0.079%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5233	+0.085%	$78K	$688K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5236	+0.105%	$820K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5243	+0.148%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5236	+0.105%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5238	+0.118%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5233	+0.085%	$54.4M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5230	+0.063%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5214	−0.037%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5234	+0.095%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5220	0.000%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5250	+0.195%	$17K	$78K	7x	as long as short
Hyperliquid XRP	+0.0149%	1h	1.5233	+0.085%	$290.6M	$268.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5241	+0.138%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5246	+0.171%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0201%	8h	1.5242	+0.145%	$1.8M	$34.6M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5228	+0.053%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5238	+0.118%	$23.7M	$78.0M	125x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5221	+0.007%	$524K	$806K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5260	+0.263%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0647%	1h	1.5237	+0.111%	$2K	$16K	10x	as long as short