Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.019%

Price spread now: Gate against Injective−3.040%99s7-day average +0.245% · you buy dearer than you sell

Net, funding: paid 7d − costs−$127as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1131.133% of the position

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 3 days (all we have)+3.681%+$368 · spread now −3.040%, 7d avg +0.245%

Together, before fees+3.547%+$355 on $10k · with fees, hour by hour

Funding pays, the price is against you. Gate is 3.285% cheaper against Injective than usual: you would sell low and buy high (spread −3.040% now, against its 7-day average of +0.245%). If the spread goes back, that is −$329 on $10k: about 5 months of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.134%, so the current rate has only just turned in your favour. The two prices were read 99 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	Injective XRP/USDC PERP	1.5560	0.0033	pay 0.0004% / 1h	57m 29s	$2K	$107K	30x
Short	Gate XRP_USDT	1.5087	0.0100	get 0.0100% / 8h	5h 57m	$367.0M	$149.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Injective. 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 InjectivebpFee GatebpOrdersPrice spread, now −3.040%Rate

Funding earned: $14
Price spread: −3.040% → +0.245%: −$328.5
Slippage, 4 orders: −$98.32
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$427.84
Costs to cover: 1.133%
Break-even: 220.9 days

Slippage from Injective: live order book, 6 min ago; Gate: live order book, 2 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 Injective live order book, 6 min ago	46.21 bp	46.2 bp −$46	59.4 bp −$594	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	0.33 bp	10.4 bp −$10	12.8 bp −$128	26.3 bp −$2,629	37.9 bp −$19.0K

XRP on 50 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	1.5118	−2.841%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5082	−3.073%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	−2.699%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5103	−2.937%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0025% / S +0.0052%	1h	1.5102	−2.943%	$798K	—	200x	as long as short
Injective XRP/USDC PERPlong	+0.0033%	1h	1.5560	long leg	$2K	$107K	30x
Orderly PERP_XRP_USDC	+0.0074%	8h	1.5108	−2.905%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5088	−3.033%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5094	−2.992%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5091	−3.014%	$507K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5082	−3.072%	$9K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5090	−3.024%	$964K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5095	−2.988%	$279.0M	$220.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5089	−3.026%	$38.2M	$83.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5090	−3.018%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5089	−3.027%	$534.7M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5086	−3.046%	$340.5M	$925.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5088	−3.033%	$124.3M	$860.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5118	−2.841%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5094	−2.995%	$114K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5144	−2.674%	$1.6M	$214K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5087	−3.040%	$367.0M	$149.9M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5087	−3.040%	$292.5M	$889.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5085	−3.055%	$106.3M	$170.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5083	−3.066%	$266.0M	$379.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5088	−3.033%	—	$126.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5125	−2.797%	$6.2M	$35.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5125	−2.794%	$657K	$109.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5120	−2.828%	$1.1M	$36.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5121	−2.821%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5092	−3.007%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5086	−3.046%	$41K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5107	−2.909%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5110	−2.890%	$813K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5118	−2.841%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5108	−2.905%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5106	−2.918%	$49.5M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5103	−2.937%	$53.8M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5087	−3.041%	$470K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5084	−3.059%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5107	−2.915%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0147%	1h	1.5110	−2.892%	$7.7M	$25.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5084	−3.057%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5109	−2.898%	$5.7M	$46.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0224%	1h	1.5108	−2.905%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5104	−2.930%	$14.5M	$72.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5110	−2.889%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5123	−2.808%	$2.1M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5095	−2.991%	$526K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0755%	1h	1.5126	−2.787%	$2K	$14K	10x	as long as short