Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.020%

Price spread now: Gate against Injective+0.533%84s7-day average — · you sell dearer than you buy

Net, funding: paid 7d − costs−$123as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1091.091% of the position

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$14 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Gate is 0.533% dearer against Injective than usual: you sell high and buy low: +$53 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.135%, so the current rate has only just turned in your favour. The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XRP/USDC PERP	1.5560	0.0089	pay 0.0011% / 1h	55m 51s	$2K	$107K	30x
Short	Gate XRP_USDT	1.5643	0.0100	get 0.0100% / 8h	55m 51s	$375.4M	$142.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now +0.533%Rate

Funding earned: $2.27
Price spread: +0.533% → 0.000%: $53.34
Slippage, 4 orders: −$94.12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$53.53
Costs to cover: 1.091%
Break-even: 172.1 days

Slippage from Injective: live order book, 23 min ago; Gate: 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 Injective live order book, 23 min ago	44.99 bp	45.0 bp −$45	57.6 bp −$576	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	0.64 bp	10.0 bp −$10	13.2 bp −$132	27.1 bp −$2,707	38.1 bp −$19.0K

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	1.5604	+0.283%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5606	+0.295%	$1.1M	$113K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0003% / S +0.0109%	1h	1.5621	+0.394%	$859K	—	200x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5623	+0.407%	$261K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0006%	1h	1.5635	+0.482%	$9.6M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5636	+0.487%	$15.7M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5628	+0.437%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERPlong	+0.0089%	1h	1.5560	long leg	$2K	$107K	30x
Lighter XRP	+0.0096%	1h	1.5634	+0.472%	$3.0M	$12.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5638	+0.501%	$446K	$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	1.5614	+0.350%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5645	+0.547%	$39.7M	$79.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5613	+0.341%	$643K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5645	+0.544%	$562.4M	$2.00B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5647	+0.559%	$349.0M	$908.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5647	+0.559%	$128.1M	$891.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5593	+0.212%	$580K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5614	+0.347%	$119K	$748K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5643	+0.533%	$375.4M	$142.3M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5642	+0.527%	$308.1M	$857.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5644	+0.538%	$114.3M	$161.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5649	+0.572%	$273.7M	$368.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5645	+0.546%	—	$120.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5530	−0.190%	$11.6M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5558	−0.014%	$679K	$102.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5558	−0.011%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5549	−0.071%	$1.0M	$884K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5606	+0.296%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5626	+0.424%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5623	+0.404%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5630	+0.448%	$841K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5637	+0.496%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5632	+0.463%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5631	+0.456%	$51.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5631	+0.456%	$55.6M	$29.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5562	+0.010%	$1.7M	$573K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5610	+0.322%	$487K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5617	+0.366%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5641	+0.520%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5632	+0.463%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5618	+0.373%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5624	+0.414%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5596	+0.231%	$24.5M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5642	+0.527%	$6.0M	$48.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5591	+0.199%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5621	+0.392%	$2.0M	$33.4M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0390%	1h	1.5647	+0.559%	$1.7M	$1.0M	25x	as long as short
Phoenix XRP	+0.0516%	1h	1.5530	−0.193%	$69K	$89K	15x	as long as short
Hyperliquid XRP	+0.0616%	1h	1.5666	+0.681%	$296.0M	$208.4M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5623	+0.402%	$509K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0771%	1h	1.5569	+0.059%	$1K	$11K	10x	as long as short