Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.019%

Price spread now: Gate against Injective−1.465%54s7-day average +0.277% · you buy dearer than you sell

Net, funding: paid 7d − costs−$131as 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−$1171.175% of the position

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 3 days (all we have)+2.031%+$203 · spread now −1.465%, 7d avg +0.277%

Together, before fees+1.897%+$190 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 1.742% cheaper against Injective than usual: you would sell low and buy high (spread −1.465% now, against its 7-day average of +0.277%). If the spread goes back, that is −$174 on $10k: about 3 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.134%, so the current rate has only just turned in your favour. The two prices were read 54 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	0.0033	pay 0.0004% / 1h	28m 20s	$2K	$107K	30x
Short	Gate XRP_USDT	1.5332	0.0100	get 0.0100% / 8h	7h 28m	$374.2M	$149.7M	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 −1.465%Rate

Funding earned: $14
Price spread: −1.465% → +0.277%: −$174.22
Slippage, 4 orders: −$102.46
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$277.7
Costs to cover: 1.175%
Break-even: 145.8 days

Slippage from Injective: live order book, 45 min ago; Gate: live order book, 6 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, 45 min ago	39.09 bp	39.1 bp −$39	47.7 bp −$477	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	0.33 bp	9.4 bp −$9	11.6 bp −$116	24.5 bp −$2,455	36.7 bp −$18.4K

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	1.5345	−1.382%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5335	−1.449%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5332	−1.465%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0014% / S +0.0079%	1h	1.5332	−1.464%	$840K	—	200x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5339	−1.420%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5341	−1.407%	$9.3M	$25.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5329	−1.485%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5345	−1.384%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5350	−1.350%	$515K	$3.2M	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	1.5338	−1.427%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5351	−1.346%	$479K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5340	−1.411%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5340	−1.415%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5346	−1.376%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5337	−1.433%	$541.0M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5341	−1.407%	$342.0M	$919.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5339	−1.420%	$124.9M	$868.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	−1.382%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5346	−1.375%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−1.450%	$1.7M	$381K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5332	−1.465%	$374.2M	$149.7M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5331	−1.472%	$311.7M	$904.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5333	−1.459%	$108.8M	$165.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5339	−1.420%	$268.6M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5330	−1.478%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	−1.490%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5333	−1.462%	$666K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−1.452%	$1.1M	$38.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5321	−1.536%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5330	−1.478%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5337	−1.433%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5336	−1.440%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5340	−1.416%	$826K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5334	−1.452%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5340	−1.414%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5325	−1.508%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5322	−1.530%	$54.5M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5335	−1.444%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5338	−1.424%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5332	−1.463%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5329	−1.485%	$24.0M	$73.6M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5334	−1.452%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5338	−1.429%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5336	−1.440%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5340	−1.414%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5319	−1.551%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0397%	1h	1.5343	−1.394%	$289.8M	$214.6M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5340	−1.414%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0805%	1h	1.5334	−1.454%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5344	−1.388%	$507K	$754K	10x	as long as short