Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Gate−0.033%7-day average 0.000% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

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

costs, in and out, $10k−$260.256% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.046%−$5 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.033%, 7d avg 0.000%

Together, before fees+0.001%+ Points / potential airdropLighter: Season 3 · farm board$0 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: Lighter is 0.033% cheaper against Gate than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5155	0.0100	pay 0.0100% / 8h	5h 05m	$368.3M	$154.1M	100x
Short	Lighter XRP	1.5150	0.0096	get 0.0012% / 1h	5m 42s	$2.8M	$14.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$0.84
Price spread: −0.033% → 0.000%: −$3.33
Slippage, 4 orders: −$10.64
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$29.81
Costs to cover: 0.256%
Break-even: never at this rate

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 8 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	0.66 bp	11.1 bp −$11	14.6 bp −$146	26.0 bp −$2,598	36.1 bp −$18.0K
Sell Lighter live order book, 8 min ago	1.03 bp	1.8 bp −$2	4.9 bp −$49	12.6 bp −$1,255	34.7 bp −$17.3K

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	1.5161	+0.040%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5145	−0.063%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5157	+0.013%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5156	+0.007%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0037%	1h	1.5156	+0.009%	$832K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.672%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5155	0.000%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5154	−0.007%	$62K	$935K	50x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5150	−0.033%	$2.8M	$14.5M	20x
Lighter RH XRP	+0.0096%	1h	1.5153	−0.013%	$510K	$3.3M	20x	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	1.5149	−0.040%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5155	+0.003%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5163	+0.053%	$281.6M	$223.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5152	−0.017%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5152	−0.021%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5147	−0.053%	$534.8M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5153	−0.013%	$345.4M	$930.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	−0.007%	$125.5M	$871.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5169	+0.092%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5160	+0.033%	$114K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.449%	$1.6M	$49K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5155	long leg	$368.3M	$154.1M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5152	−0.020%	$297.0M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5153	−0.011%	$108.5M	$172.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5152	−0.020%	$268.8M	$381.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5152	−0.020%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	−0.010%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.227%	$660K	$107.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5183	+0.185%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5189	+0.224%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5162	+0.043%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5157	+0.013%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5159	+0.029%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5155	+0.002%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5168	+0.086%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5156	+0.007%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5161	+0.041%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5161	+0.040%	$53.9M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5152	−0.019%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5154	−0.010%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5154	−0.010%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5166	+0.073%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5175	+0.131%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5157	+0.013%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5159	+0.026%	$5.6M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	+0.158%	$24.2M	$75.6M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5159	+0.026%	$14.3M	$73.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5171	+0.106%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5160	+0.031%	$516K	$778K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.231%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0654%	1h	1.5193	+0.252%	$2K	$14K	10x	as long as short