Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0068%/8h= −7.5% APRpaid last 24h −0.023%

Price spread now: Gate against Kraken Futures+0.020%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

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

Long on Kraken Futures Short on Gate

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)+0.149%+$15 · spread now +0.020%, 7d avg −0.008%

Together, before fees+0.098%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.028% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.020% now, against its 7-day average of −0.008%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 32 hours. At the pace of the last 7 days (−0.051% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5454	0.0168	pay 0.0021% / 1h	21m 20s	$15.7M	$64.2M	50x
Short	Gate XRP_USDT	1.5457	0.0100	get 0.0100% / 8h	2h 21m	$369.8M	$131.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now +0.020%Rate

Funding earned: −$14.38
Price spread: +0.020% → −0.008%: $2.77
Slippage, 4 orders: −$15.4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$52.01
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 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 Kraken Futures live order book, 3 min ago	0.33 bp	10.8 bp −$11	12.3 bp −$123	22.7 bp −$2,273	49.4 bp −$24.7K
Sell Gate live order book, 3 min ago	0.33 bp	10.2 bp −$10	13.9 bp −$139	26.6 bp −$2,659	37.4 bp −$18.7K

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	1.5397	−0.368%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5431	−0.150%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	−0.867%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5454	+0.002%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.061%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5462	+0.052%	$59K	$916K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0073% / S +0.0183%	1h	1.5454	−0.002%	$908K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0073%	1h	1.5464	+0.065%	$9.4M	$24.6M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5429	−0.162%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5431	−0.148%	$447K	$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	1.5433	−0.132%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5443	−0.073%	$39.2M	$72.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5428	−0.167%	$671K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5458	+0.029%	$552.7M	$1.85B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5464	+0.065%	$346.7M	$842.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5464	+0.065%	$125.1M	$843.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5398	−0.362%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5439	−0.097%	$116K	$651K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5457	+0.020%	$369.8M	$131.9M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5453	−0.006%	$290.0M	$810.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5437	−0.107%	$113.2M	$147.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5457	+0.020%	$268.5M	$342.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5459	+0.033%	—	$113.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	−0.860%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5357	−0.627%	$667K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5402	−0.336%	$1.1M	$42.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5381	−0.472%	$1.0M	$864K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5431	−0.148%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5457	+0.020%	$50K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5456	+0.013%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5464	+0.064%	$833K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5466	+0.081%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5456	+0.013%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5405	−0.317%	$50.7M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5452	−0.013%	$55.2M	$28.3M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5438	−0.105%	$1.7M	$399K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5427	−0.177%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5435	−0.123%	$12K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5457	+0.020%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5468	+0.090%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5445	−0.058%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0167%	1h	1.5427	−0.174%	$1.7M	$929K	25x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0168%	1h	1.5454	long leg	$15.7M	$64.2M	50x
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5463	+0.059%	$5.5M	$44.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5445	−0.058%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5416	−0.245%	$1.7M	$31.7M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5373	−0.524%	$23.9M	$67.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5361	−0.599%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5443	−0.070%	$406K	$497K	10x	as long as short
Hyperliquid XRP	+0.0495%	1h	1.5472	+0.117%	$285.9M	$185.8M	20x	as long as short
Aftermath Perps XRPUSD	+0.0525%	1h	1.5339	−0.745%	$1K	$11K	10x	as long as short