Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h −0.017%

Price spread now: Gate against Kraken Futures−0.008%7-day average −0.009% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$390.391% 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−0.059%−$6 on $10k

Price spread, last 3 days (all we have)+0.040%+$4 · spread now −0.008%, 7d avg −0.009%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.009%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.059%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5127	0.0040	pay 0.0005% / 1h	17m 14s	$14.5M	$72.7M	50x
Short	Gate XRP_USDT	1.5126	0.0100	get 0.0100% / 8h	6h 17m	$367.9M	$152.7M	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 −0.008%Rate

Funding earned: $12.64
Price spread: −0.008% → −0.009%: $0.14
Slippage, 4 orders: −$14.08
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$26.3
Costs to cover: 0.391%
Break-even: 21.6 days

Slippage from Kraken Futures: live order book, 2 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 Kraken Futures live order book, 2 min ago	1.65 bp	9.7 bp −$10	12.8 bp −$128	19.3 bp −$1,929	36.6 bp −$18.3K
Sell Gate live order book, 2 min ago	0.33 bp	10.2 bp −$10	12.5 bp −$125	26.3 bp −$2,633	37.2 bp −$18.6K

XRP on 50 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	1.5131	+0.025%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5129	+0.012%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.217%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5123	−0.028%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0022% / S +0.0057%	1h	1.5123	−0.028%	$799K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.861%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSDlong	+0.0040%	1h	1.5127	long leg	$14.5M	$72.7M	50x
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5127	−0.001%	$62K	$953K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5130	+0.019%	$7.6M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5131	+0.027%	$2.8M	$14.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5133	+0.039%	$511K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5113	−0.094%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5120	−0.044%	$933K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5121	−0.041%	$38.5M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5130	+0.018%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5127	−0.001%	$536.6M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5128	+0.005%	$340.6M	$940.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5129	+0.012%	$124.0M	$871.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5130	+0.019%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5123	−0.028%	$114K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	+0.412%	$1.6M	$330K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5126	−0.008%	$367.9M	$152.7M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5125	−0.014%	$289.6M	$915.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5118	−0.058%	$106.9M	$171.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5127	−0.001%	$266.4M	$384.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5125	−0.014%	—	$126.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	+0.156%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5134	+0.044%	$657K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5152	+0.167%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5134	+0.045%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5127	−0.001%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5127	−0.001%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5127	−0.001%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5130	+0.016%	$814K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5134	+0.046%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5129	+0.012%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5133	+0.041%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5127	−0.001%	$53.8M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5130	+0.022%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5126	−0.011%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5125	−0.013%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5120	−0.047%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0188%	1h	1.5129	+0.012%	$280.0M	$222.1M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5119	−0.054%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5133	+0.039%	$5.7M	$46.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5132	+0.033%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0343%	1h	1.5138	+0.072%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0362%	8h	1.5132	+0.032%	$2.1M	$35.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5123	−0.025%	$529K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0767%	1h	1.5148	+0.137%	$2K	$14K	10x	as long as short