Funding arb · Price arb /

XRP

all XRP markets

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: Gate against Lighter−0.118%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Lighter Short on Gate

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+0.081%+$8 · spread now −0.118%, 7d avg 0.000%

Together, before fees+0.124%+ Points / potential airdropLighter: Season 3 · farm board+$12 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: Gate is 0.117% cheaper against Lighter than usual: you would sell low and buy high, −$12 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	Lighter XRP	1.5579	0.0096	pay 0.0012% / 1h	36m 33s	$3.0M	$11.9M	20x
Short	Gate XRP_USDT	1.5561	0.0100	get 0.0100% / 8h	1h 36m	$373.7M	$138.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now −0.118%Rate

Funding earned: $0.84
Price spread: −0.118% → 0.000%: −$11.74
Slippage, 4 orders: −$8.7
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34.6
Costs to cover: 0.237%
Break-even: 295.3 days

Slippage from Lighter: live order book, 7 min ago; Gate: live order book, 2 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 Lighter live order book, 7 min ago	1.42 bp	1.4 bp −$1	6.0 bp −$60	17.4 bp −$1,738	38.5 bp −$19.3K
Sell Gate live order book, 2 min ago	0.32 bp	9.0 bp −$9	12.6 bp −$126	25.0 bp −$2,498	35.3 bp −$17.7K

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	1.5603	+0.152%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5557	−0.140%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5603	+0.152%	$9.7M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5598	+0.123%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.857%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5599	+0.126%	$15.6M	$68.0M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5601	+0.139%	$78K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0133%	1h	1.5606	+0.173%	$919K	—	200x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5579	long leg	$3.0M	$11.9M	20x
Lighter RH XRP	+0.0096%	1h	1.5586	+0.043%	$457K	$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	1.5589	+0.059%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5559	−0.131%	$39.5M	$76.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5565	−0.094%	$672K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5551	−0.182%	$561.4M	$1.94B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5563	−0.105%	$349.6M	$880.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5565	−0.092%	$127.2M	$871.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5561	−0.118%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5570	−0.060%	$119K	$731K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.666%	$1.7M	$616K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5561	−0.118%	$373.7M	$138.0M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5563	−0.105%	$293.1M	$837.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5573	−0.043%	$114.7M	$157.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5563	−0.105%	$270.8M	$357.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5562	−0.111%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5690	+0.709%	$12.0M	$29.9M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5643	+0.411%	$679K	$99.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	+0.467%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	+0.422%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5601	+0.137%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5593	+0.088%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5604	+0.161%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5605	+0.163%	$840K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5599	+0.130%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5600	+0.133%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5582	+0.020%	$51.2M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5606	+0.171%	$55.6M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5564	−0.098%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5561	−0.118%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5562	−0.112%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5601	+0.140%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0128%	1h	1.5657	+0.497%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5567	−0.079%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5587	+0.047%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5607	+0.178%	$5.8M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5608	+0.184%	$24.6M	$73.3M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0298%	1h	1.5609	+0.191%	$1.8M	$976K	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5614	+0.223%	$1.9M	$32.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+0.967%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5573	−0.040%	$508K	$615K	10x	as long as short
Hyperliquid XRP	+0.0607%	1h	1.5604	+0.158%	$291.0M	$199.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5648	+0.440%	$1K	$11K	10x	as long as short