Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Gate+1.151%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$1191.188% of the position

Long on Gate Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 4 days (all we have)−1.947%−$195 · spread now +1.151%, 7d avg +0.005%

Together, before fees−1.818%−$182 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 1.146% dearer against Gate than usual: you sell high and buy low (spread +1.151% now, against its 7-day average of +0.005%): +$115 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 57 days. Mind the row above: over the last 7 days funding on this pair paid +0.129%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5383	0.0100	pay 0.0100% / 8h	5h 56m	$383.8M	$155.6M	100x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	56m 43s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.151%Rate

Funding earned: −$14
Price spread: +1.151% → +0.005%: $114.58
Slippage, 4 orders: −$103.81
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$18.25
Costs to cover: 1.188%
Break-even: never at this rate

Slippage from Gate: live order book, 6 min ago; Injective: live order book, 54 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, 6 min ago	0.32 bp	10.4 bp −$10	15.6 bp −$156	30.4 bp −$3,040	41.1 bp −$20.5K
Sell Injective live order book, 54 min ago	42.39 bp	54.8 bp −$55	64.0 bp −$640	doesn't fit	doesn't fit

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	+0.130%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5386	+0.021%	$14.1M	$72.0M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5385	+0.013%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5387	+0.026%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5383	−0.002%	$246K	—	150x	as long as short
01 Exchange XRPUSD	+0.0016%	1h	1.5376	−0.046%	$9K	$987	10x	as long as short
SoDEX XRP-USD	+0.0025%	1h	1.5383	0.000%	$30K	$1.5M	10x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+1.151%	$2K	$107K	30x
Ondo Perps XRP-USD.P	+0.0047%	1h	1.5389	+0.039%	$565K	$37K	5x	as long as short
Lighter XRP	+0.0096%	1h	1.5392	+0.060%	$2.8M	$14.0M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5388	+0.033%	$602K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5384	+0.008%	$480K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5377	−0.039%	$9K	$400K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5375	−0.049%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5403	+0.130%	$300.2M	$267.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5382	−0.004%	$39.4M	$81.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5387	+0.027%	$595K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5381	−0.011%	$536.4M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5381	−0.013%	$364.7M	$891.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5378	−0.033%	$125.1M	$840.5M	100x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5385	+0.013%	$165K	$684K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5379	−0.026%	$1.6M	$25K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5383	long leg	$383.8M	$155.6M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5378	−0.033%	$310.8M	$885.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5387	+0.027%	$107.0M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5380	−0.020%	$272.8M	$358.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5382	−0.007%	—	$103.4M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5393	+0.065%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5390	+0.045%	$5.0M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5392	+0.061%	$669K	$110.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5411	+0.182%	$1.1M	$31.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5406	+0.150%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5384	+0.007%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5378	−0.033%	$53K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5384	+0.005%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5384	+0.007%	$84K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5388	+0.033%	$129K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5378	−0.033%	$50.1M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5386	+0.020%	$54.8M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5375	−0.055%	$2.2M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5377	−0.036%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5388	+0.033%	$5.5M	$44.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5387	+0.029%	$17K	$76K	7x	as long as short
Kalshi KXXRPPERP	+0.0142%	8h	1.5387	+0.026%	$1.9M	$34.9M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0170% / S −0.0372%	1h	1.5385	+0.013%	$610K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5380	−0.020%	$23.9M	$78.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5375	−0.054%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5384	+0.005%	$514K	$739K	10x	as long as short
Aftermath Perps XRPUSD	+0.0438%	1h	1.5399	+0.107%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5390	+0.046%	$69K	$108K	15x	as long as short