Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0119%/8h= +13.0% APRpaid last 24h +0.032%

Price spread now: Reya against Gate−0.366%137s7-day average −0.026% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Reya

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.117%+$12 on $10k

Price spread, last 7 days+0.346%+$35 · spread now −0.366%, 7d avg −0.026%

Together, before fees+0.464%+ Points / potential airdropReya: Active · farm board+$46 on $10k · with fees, hour by hour

Funding pays, the price is against you. Reya is 0.340% cheaper against Gate than usual: you would sell low and buy high (spread −0.366% now, against its 7-day average of −0.026%). If the spread goes back, that is −$34 on $10k: about 9.5 days of funding at the current rate (+$4 a day). The two prices were read 137 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XRP_USDT	1.5212	0.0100	pay 0.0100% / 8h	1h 27m	$377.6M	$160.3M	100x
Short	Reya XRPRUSDPERP	1.5156	0.0219	get 0.0027% / 1h	27m 12s	$1.3M	$5K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Reya 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 ReyabpOrdersPrice spread, now −0.366%Rate

Funding earned: $24.98
Price spread: −0.366% → −0.026%: −$33.95
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Reya: 3 bp × 2 orders: −$6
Net: −$29.98
Costs to cover: 0.210%
Break-even: 15.4 days

Slippage unknown: Gate: live order book, 2 min ago; Reya: no order-book sample. Net counts fees only.

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, 2 min ago	0.33 bp	10.3 bp −$10	13.7 bp −$137	28.1 bp −$2,814	39.4 bp −$19.7K
Sell Reya no order-book sample	—	—	—	—	—

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5194	−0.118%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5204	−0.054%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.276%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5172	−0.266%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5209	−0.017%	$14.4M	$74.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.288%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5213	+0.007%	$7.7M	$24.8M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0085% / S −0.0035%	1h	1.5204	−0.050%	$802K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5213	+0.006%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5213	+0.007%	$547K	$3.2M	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	+0.0099%	8h	1.5202	−0.066%	$10K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5210	−0.016%	$981K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5212	−0.002%	$38.6M	$87.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5204	−0.053%	$618K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5215	+0.018%	$533.9M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5211	−0.007%	$346.8M	$962.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5212	0.000%	$127.4M	$886.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5147	−0.427%	$564K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5210	−0.013%	$144K	$715K	20x	as long as short
Gate XRP_USDTlong	+0.0100%	8h	1.5212	long leg	$377.6M	$160.3M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5214	+0.013%	$304.9M	$926.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5212	+0.003%	$107.8M	$181.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5212	0.000%	$268.3M	$397.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5209	−0.020%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5158	−0.356%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5165	−0.312%	$659K	$113.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5162	−0.329%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5169	−0.283%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5204	−0.054%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5212	0.000%	$47K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5206	−0.042%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5210	−0.013%	$65K	$773K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5148	−0.418%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5216	+0.028%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5211	−0.007%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5206	−0.037%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5206	−0.039%	$54.5M	$32.4M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5157	−0.362%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5208	−0.029%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5207	−0.034%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5209	−0.020%	$9K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5210	−0.013%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5172	−0.264%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5215	+0.020%	$5.7M	$48.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0182%	1h	1.5221	+0.059%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0193%	1h	1.5224	+0.079%	$289.4M	$265.0M	20x	as long as short
Kalshi KXXRPPERP	+0.0212%	8h	1.5205	−0.046%	$1.8M	$35.2M	2.9x	as long as short
Reya XRPRUSDPERPshort	+0.0219%	1h	1.5156	−0.366%	$1.3M	$5K	15x
BloFin XRP-USDT	+0.0220%	8h	1.5205	−0.046%	$23.7M	$78.1M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5213	+0.003%	$531K	$800K	10x	as long as short
Aftermath Perps XRPUSD	+0.0602%	1h	1.5174	−0.251%	$2K	$16K	10x	as long as short