Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.023%

Price spread now: Gate against Deribit−0.163%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.092%−$9 on $10k

Price spread, last 4 days (all we have)+0.305%+$30 · spread now −0.163%, 7d avg −0.023%

Together, before fees+0.212%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 0.140% cheaper against Deribit than usual: you would sell low and buy high (spread −0.163% now, against its 7-day average of −0.023%). If the spread goes back, that is −$14 on $10k: about 4.7 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.092%, 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	Deribit XRP_USDC-PERPETUAL	1.5363	0	get 0.0000% / 1h	52m 43s	$7.8M	$21.5M	50x
Short	Gate XRP_USDT	1.5338	0.0100	get 0.0100% / 8h	5h 52m	$382.8M	$155.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Deribit. 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 DeribitbpFee GatebpOrdersPrice spread, now −0.163%Rate

Funding earned: $21
Price spread: −0.163% → −0.023%: −$14.02
Slippage, 4 orders: −$8.75
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$23.77
Costs to cover: 0.307%
Break-even: 14.9 days

Slippage from Deribit: live order book, 4 min ago; Gate: live order book, 5 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 Deribit live order book, 4 min ago	0.32 bp	5.4 bp −$5	7.3 bp −$73	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	0.65 bp	10.8 bp −$11	15.5 bp −$155	33.5 bp −$3,350	44.1 bp −$22.0K

XRP on 50 exchanges

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	1.5403	+0.260%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5362	−0.006%	$14.1M	$71.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5362	−0.009%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5360	−0.020%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUALlong	0.0000%	1h	1.5363	long leg	$7.8M	$21.5M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5357	−0.041%	$246K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5352	−0.072%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.282%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0060%	1h	1.5359	−0.026%	$30K	$1.5M	10x	as long as short
Ondo Perps XRP-USD.P	+0.0074%	1h	1.5365	+0.013%	$565K	$37K	5x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5339	−0.157%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5361	−0.013%	$600K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5358	−0.030%	$479K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5350	−0.085%	$10K	$400K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5351	−0.075%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5347	−0.104%	$299.1M	$266.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5333	−0.193%	$39.3M	$81.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5358	−0.033%	$594K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5331	−0.206%	$534.8M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5338	−0.163%	$362.8M	$890.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5336	−0.176%	$124.7M	$838.1M	100x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5360	−0.020%	$165K	$684K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5379	+0.104%	$1.6M	$25K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5338	−0.163%	$382.8M	$155.8M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5337	−0.169%	$312.6M	$887.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5350	−0.084%	$106.7M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5333	−0.195%	$272.1M	$357.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5337	−0.169%	—	$100.9M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5365	+0.013%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5375	+0.075%	$5.0M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5375	+0.080%	$668K	$109.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5368	+0.033%	$1.1M	$30.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5372	+0.059%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5359	−0.026%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5354	−0.059%	$52K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5356	−0.046%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5359	−0.026%	$84K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5357	−0.037%	$129K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5347	−0.102%	$50.0M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5360	−0.020%	$54.7M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5336	−0.173%	$2.2M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5354	−0.058%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5360	−0.020%	$5.5M	$44.5M	50x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5358	−0.034%	$17K	$76K	7x	as long as short
Kalshi KXXRPPERP	+0.0139%	8h	1.5365	+0.013%	$1.9M	$35.0M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0202% / S −0.0545%	1h	1.5356	−0.044%	$806K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5358	−0.033%	$23.9M	$78.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5351	−0.078%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5360	−0.017%	$516K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0431%	1h	1.5381	+0.120%	$3K	$13K	10x	as long as short