Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.084%

Price spread now: Hyperliquid against Gate+0.066%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.160%+$16 on $10k

Price spread, last 7 days−0.048%−$5 · spread now +0.066%, 7d avg +0.044%

Together, before fees+0.112%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 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: Hyperliquid is 0.022% dearer against Gate than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5211	0.0100	pay 0.0100% / 8h	5h 31m	$370.8M	$152.0M	100x
Short	Hyperliquid XRP	1.5221	0.0100	get 0.0013% / 1h	31m 04s	$282.1M	$221.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.066%Rate

Funding earned: $0
Price spread: +0.066% → +0.044%: $2.21
Slippage, 4 orders: −$6.61
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$28.41
Costs to cover: 0.306%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Hyperliquid: live order book, 13 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, 3 min ago	0.33 bp	9.5 bp −$10	12.3 bp −$123	25.1 bp −$2,508	37.6 bp −$18.8K
Sell Hyperliquid live order book, 13 min ago	0.33 bp	4.8 bp −$5	5.9 bp −$59	10.4 bp −$1,035	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	1.5193	−0.118%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5191	−0.134%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5200	−0.069%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.294%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0044%	1h	1.5200	−0.074%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5207	−0.026%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5204	−0.046%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5210	−0.007%	$7.7M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5210	−0.006%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5211	0.000%	$514K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5195	−0.105%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5202	−0.056%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRPshort	+0.0100%	1h	1.5221	+0.066%	$282.1M	$221.1M	20x
Aster XRPUSDT	+0.0100%	8h	1.5210	−0.005%	$38.6M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5201	−0.065%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5213	+0.012%	$539.3M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5211	0.000%	$345.3M	$927.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5218	+0.046%	$126.2M	$871.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5156	−0.362%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5206	−0.033%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.361%	$1.6M	$49K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5211	long leg	$370.8M	$152.0M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5211	0.000%	$294.5M	$897.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5208	−0.020%	$107.2M	$171.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5214	+0.020%	$268.5M	$380.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5214	+0.020%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	−0.083%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.226%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5189	−0.145%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	−0.329%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5198	−0.085%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5206	−0.033%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5199	−0.079%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5207	−0.024%	$818K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5207	−0.030%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5209	−0.013%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5197	−0.091%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5207	−0.026%	$54.1M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5201	−0.063%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5203	−0.052%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5204	−0.046%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0208%	1h	1.5222	+0.072%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5198	−0.083%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5214	+0.020%	$5.6M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	−0.013%	$24.2M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5184	−0.177%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0272%	1h	1.5207	−0.024%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5202	−0.059%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5209	−0.011%	$518K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	−0.138%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0675%	1h	1.5168	−0.283%	$2K	$14K	10x	as long as short