Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 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 buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$240.242% 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+0.026%+$3 · spread now −0.032%, 7d avg +0.012%

Together, before fees+0.070%+ Points / potential airdropLighter RH: Points live · farm board+$7 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 0.045% cheaper against Lighter RH than usual: you would sell low and buy high, −$4 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	1.5530	0.0096	pay 0.0012% / 1h	42m 14s	$442K	$3.1M	20x
Short	Gate XRP_USDT	1.5525	0.0100	get 0.0100% / 8h	42m 14s	$373.8M	$144.0M	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%: −$4.46
Slippage, 4 orders: −$9.18
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$27.8
Costs to cover: 0.242%
Break-even: 238.6 days

Slippage from Lighter RH: live order book, 1 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, 1 min ago	1.61 bp	4.4 bp −$4	7.7 bp −$77	41.7 bp −$4,166	doesn't fit
Sell Gate live order book, 2 min ago	0.32 bp	9.8 bp −$10	13.9 bp −$139	27.3 bp −$2,732	37.3 bp −$18.6K

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	1.5533	+0.019%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5541	+0.074%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5620	+0.580%	$70K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5523	−0.045%	$9.6M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5523	−0.043%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0104%	1h	1.5522	−0.049%	$854K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5526	−0.023%	$15.5M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0057%	8h	1.5524	−0.039%	$76K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+0.193%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5525	−0.031%	$3.0M	$12.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRPlong	+0.0096%	1h	1.5530	long leg	$442K	$3.1M	20x
Nado XRP-PERP	+0.0100%	1h	1.5537	+0.048%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5523	−0.043%	$39.4M	$80.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5536	+0.037%	$639K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5531	+0.004%	$556.2M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5522	−0.052%	$346.8M	$917.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5520	−0.064%	$126.9M	$887.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5546	+0.103%	$579K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5536	+0.039%	$117K	$754K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.664%	$1.7M	$573K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5525	−0.032%	$373.8M	$144.0M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5527	−0.019%	$297.9M	$870.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5526	−0.024%	$113.0M	$163.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5522	−0.052%	$271.3M	$370.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5525	−0.032%	—	$120.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5624	+0.602%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5600	+0.453%	$677K	$103.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5583	+0.339%	$1.1M	$40.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5597	+0.431%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5537	+0.044%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5532	+0.013%	$48K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5526	−0.026%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5524	−0.036%	$836K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5529	−0.009%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5523	−0.045%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5533	+0.018%	$51.0M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5527	−0.019%	$55.2M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5531	+0.005%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5540	+0.064%	$13K	$267K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5518	−0.076%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5522	−0.052%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5538	+0.052%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5526	−0.028%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5553	+0.148%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5532	+0.013%	$5.9M	$47.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5587	+0.367%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5543	+0.084%	$2.0M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0361%	1h	1.5564	+0.219%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0617%	1h	1.5548	+0.116%	$295.9M	$209.2M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5544	+0.092%	$507K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0810%	1h	1.5587	+0.367%	$1K	$11K	10x	as long as short