Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.026%

Price spread now: Coinbase International against Gate+0.085%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$370.367% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 3 days (all we have)−0.097%−$10 · spread now +0.085%, 7d avg +0.032%

Together, before fees−0.059%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.052% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5332	0.0100	pay 0.0100% / 8h	7h 30m	$373.9M	$149.6M	100x
Short	Coinbase International XRP-PERP-INTX	1.5345	0.0224	get 0.0028% / 1h	30m 55s	$5.8M	$46.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.085%Rate

Funding earned: $26.04
Price spread: +0.085% → +0.032%: $5.25
Slippage, 4 orders: −$11.74
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$5.45
Costs to cover: 0.367%
Break-even: 8.5 days

Slippage from Gate: live order book, 3 min ago; Coinbase International: live order book, 3 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	11.2 bp −$11	13.7 bp −$137	25.2 bp −$2,516	37.2 bp −$18.6K
Sell Coinbase International live order book, 3 min ago	0.65 bp	8.1 bp −$8	11.3 bp −$113	25.8 bp −$2,582	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	1.5347	+0.098%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5335	+0.020%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5333	+0.007%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0014% / S +0.0080%	1h	1.5330	−0.012%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.487%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5334	+0.013%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5337	+0.033%	$9.3M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5341	+0.056%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5346	+0.091%	$515K	$3.2M	20x	as long as short
01 Exchange XRPUSD	+0.0096%	1h	1.5348	+0.104%	$8K	$8K	10x	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	1.5344	+0.078%	$10K	$277K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5345	+0.083%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5345	+0.082%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5336	+0.027%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5340	+0.050%	$621K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5332	+0.002%	$539.9M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5333	+0.007%	$341.9M	$920.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5331	−0.007%	$124.9M	$869.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.104%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5349	+0.111%	$119K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.236%	$1.6M	$517K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5332	long leg	$373.9M	$149.6M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5333	+0.007%	$309.6M	$903.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5333	+0.008%	$108.9M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5333	+0.007%	$268.4M	$374.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5334	+0.013%	—	$123.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	−0.025%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5313	−0.121%	$665K	$107.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5322	−0.063%	$1.1M	$38.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5321	−0.072%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5331	−0.008%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5346	+0.091%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5333	+0.007%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5337	+0.035%	$826K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5352	+0.132%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5336	+0.026%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5332	−0.002%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5336	+0.026%	$54.6M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5328	−0.024%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5334	+0.014%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5332	+0.002%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5336	+0.026%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTXshort	+0.0224%	1h	1.5345	+0.085%	$5.8M	$46.3M	50x
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5343	+0.074%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0290%	1h	1.5347	+0.098%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0310%	8h	1.5341	+0.059%	$2.1M	$34.9M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5313	−0.123%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0404%	1h	1.5351	+0.124%	$289.9M	$214.6M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	−0.013%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0803%	1h	1.5331	−0.008%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5351	+0.121%	$507K	$754K	10x	as long as short