Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Gate against Lighter RH−0.064%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

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

costs, in and out, $10k−$230.231% of the position

Long on Lighter RH Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 7 days+0.058%+$6 · spread now −0.064%, 7d avg +0.012%

Together, before fees+0.102%+ Points / potential airdropLighter RH: Points live · farm board+$10 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: Gate is 0.077% cheaper against Lighter RH than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5605	0.0096	pay 0.0012% / 1h	45m 17s	$444K	$3.1M	20x
Short	Gate XRP_USDT	1.5595	0.0100	get 0.0100% / 8h	45m 17s	$375.5M	$143.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter RH. 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 Lighter RHbpFee GatebpOrdersPrice spread, now −0.064%Rate

Funding earned: $0.84
Price spread: −0.064% → +0.012%: −$7.65
Slippage, 4 orders: −$8.09
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$29.9
Costs to cover: 0.231%
Break-even: 256.2 days

Slippage from Lighter RH: live order book, 3 min ago; Gate: live order book, 4 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 Lighter RH live order book, 3 min ago	0.96 bp	1.0 bp −$1	5.9 bp −$59	38.5 bp −$3,850	doesn't fit
Sell Gate live order book, 4 min ago	0.32 bp	9.8 bp −$10	12.8 bp −$128	27.8 bp −$2,776	40.5 bp −$20.2K

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	1.5603	−0.013%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5605	−0.002%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5620	+0.096%	$70K	$90K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5600	−0.032%	$9.7M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5590	−0.094%	$261K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0105%	1h	1.5590	−0.098%	$858K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5598	−0.045%	$15.6M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5596	−0.058%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.288%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5605	0.000%	$3.0M	$12.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRPlong	+0.0096%	1h	1.5605	long leg	$444K	$3.1M	20x
Nado XRP-PERP	+0.0100%	1h	1.5596	−0.054%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5597	−0.050%	$39.6M	$80.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5606	+0.004%	$642K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5594	−0.069%	$558.4M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5595	−0.064%	$347.8M	$914.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5595	−0.064%	$127.4M	$891.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5568	−0.237%	$579K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5604	−0.006%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.180%	$1.7M	$573K	20x	as long as short
Gate XRP_USDTshort	+0.0100%	8h	1.5595	−0.064%	$375.5M	$143.4M	100x
MEXC XRP_USDT	+0.0100%	8h	1.5596	−0.058%	$302.4M	$868.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5598	−0.043%	$113.5M	$163.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5597	−0.051%	$272.8M	$370.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5594	−0.070%	—	$120.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5624	+0.119%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	−0.077%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	0.000%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5567	−0.244%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5598	−0.042%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5599	−0.038%	$49K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5594	−0.070%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5600	−0.032%	$840K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5604	−0.009%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5598	−0.045%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5599	−0.038%	$51.2M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5593	−0.077%	$55.5M	$29.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5603	−0.015%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5609	+0.026%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5596	−0.060%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5598	−0.045%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5602	−0.019%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5594	−0.069%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	−0.128%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5607	+0.013%	$5.9M	$47.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5633	+0.178%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5636	+0.199%	$2.0M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0396%	1h	1.5629	+0.154%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0626%	1h	1.5616	+0.070%	$297.6M	$208.8M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5613	+0.050%	$509K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0813%	1h	1.5610	+0.031%	$1K	$11K	10x	as long as short