Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Gate against Lighter RH+0.032%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Lighter RH Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 7 days−0.028%−$3 · spread now +0.032%, 7d avg +0.012%

Together, before fees+0.016%+ Points / potential airdropLighter RH: Points live · farm board+$2 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 0.020% dearer against Lighter RH than usual: you sell high and buy low, +$2 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	Lighter RH XRP	1.5414	0.0096	pay 0.0012% / 1h	22m 00s	$447K	$3.1M	20x
Short	Gate XRP_USDT	1.5419	0.0100	get 0.0100% / 8h	2h 22m	$368.8M	$131.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter RH. 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 Lighter RHbpFee GatebpOrdersPrice spread, now +0.032%Rate

Funding earned: $0.84
Price spread: +0.032% → +0.012%: $2.01
Slippage, 4 orders: −$12.32
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$24.47
Costs to cover: 0.273%
Break-even: 210.9 days

Slippage from Lighter RH: live order book, 6 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 RH live order book, 6 min ago	2.62 bp	2.6 bp −$3	5.1 bp −$51	36.6 bp −$3,662	doesn't fit
Sell Gate live order book, 2 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	−0.110%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5386	−0.179%	$1.1M	$99K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	−0.610%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5403	−0.071%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.804%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0046%	8h	1.5400	−0.091%	$179K	$788K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0072% / S +0.0184%	1h	1.5402	−0.075%	$906K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0074%	1h	1.5415	+0.006%	$9.3M	$24.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5419	+0.033%	$3.0M	$11.4M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5414	long leg	$447K	$3.1M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5407	−0.046%	$1.1M	$5.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5421	+0.048%	$39.1M	$72.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5394	−0.130%	$670K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5423	+0.056%	$551.4M	$1.85B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5421	+0.045%	$345.5M	$840.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5421	+0.045%	$124.7M	$839.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5297	−0.759%	$569K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5404	−0.065%	$115K	$650K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−1.381%	$1.6M	$350K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5419	+0.032%	$368.8M	$131.8M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5426	+0.078%	$291.8M	$809.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5419	+0.030%	$113.1M	$147.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5434	+0.130%	$267.7M	$341.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5425	+0.071%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5321	−0.604%	$6.3M	$24.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5269	−0.939%	$665K	$95.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5309	−0.684%	$1.1M	$41.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5280	−0.869%	$1.0M	$850K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5417	+0.019%	$48K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5404	−0.065%	$42K	$59K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5401	−0.087%	$829K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5416	+0.015%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5411	−0.019%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5405	−0.059%	$50.7M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5415	+0.006%	$55.0M	$28.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5384	−0.192%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5397	−0.110%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5404	−0.065%	$12K	$235K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5410	−0.029%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5408	−0.040%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5415	+0.006%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0167%	1h	1.5427	+0.084%	$1.7M	$929K	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5415	+0.009%	$15.6M	$64.1M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5423	+0.058%	$5.4M	$44.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5406	−0.052%	$1.4M	$10K	15x	as long as short
Kalshi KXXRPPERP	+0.0217%	8h	1.5416	+0.013%	$1.7M	$31.7M	2.9x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5373	−0.266%	$23.9M	$67.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5361	−0.341%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5412	−0.015%	$405K	$497K	10x	as long as short
Hyperliquid XRP	+0.0486%	1h	1.5438	+0.156%	$285.2M	$185.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0531%	1h	1.5315	−0.643%	$1K	$11K	10x	as long as short