Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against BingX−0.030%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$200.198% of the position

Long on BingX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 7 days+0.063%+$6 · spread now −0.030%, 7d avg +0.044%

Together, before fees−0.002%+ 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 0.074% cheaper against BingX than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XRP-USDC	1.5119	0.0100	pay 0.0100% / 8h	2h 55m	—	$4.2M	—
Short	Lighter XRP	1.5115	0.0096	get 0.0012% / 1h	55m 22s	$2.8M	$14.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BingX. 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 BingXbpFee LighterbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$0.84
Price spread: −0.030% → +0.044%: −$7.36
Slippage, 4 orders: −$9.82
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$28.02
Costs to cover: 0.198%
Break-even: never at this rate

Slippage from BingX: live order book, 10 min ago; Lighter: live order book, 3 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 BingX live order book, 10 min ago	0.66 bp	8.9 bp −$9	12.2 bp −$122	27.4 bp −$2,744	95.6 bp −$47.8K
Sell Lighter live order book, 3 min ago	0.56 bp	0.6 bp −$1	6.4 bp −$64	15.5 bp −$1,547	37.9 bp −$18.9K

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	1.5126	+0.046%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5137	+0.120%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5119	+0.001%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5139	+0.132%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5112	−0.044%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.917%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5111	−0.054%	$793K	—	200x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5113	−0.040%	$8K	$8K	10x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5115	−0.030%	$2.8M	$14.8M	20x
Lighter RH XRP	+0.0096%	1h	1.5123	+0.026%	$497K	$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	1.5104	−0.099%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5109	−0.068%	$941K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5118	−0.007%	$289.7M	$257.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5108	−0.073%	$38.8M	$86.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5117	−0.014%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5110	−0.060%	$531.2M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5110	−0.060%	$341.9M	$950.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5110	−0.060%	$125.1M	$887.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5124	+0.033%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5115	−0.026%	$137K	$717K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5112	−0.046%	$372.5M	$154.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5108	−0.073%	$293.9M	$903.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5110	−0.057%	$107.8M	$179.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5107	−0.079%	$268.0M	$392.6M	125x	as long as short
BingX XRP-USDClong	+0.0100%	8h	1.5119	long leg	—	$4.2M	—
Variational Omni XRP	+0.0100%	8h	1.5139	+0.131%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5127	+0.055%	$657K	$111.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	+0.123%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	+0.185%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5114	−0.030%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5112	−0.046%	$49K	$490K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5109	−0.066%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5137	+0.119%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5136	+0.110%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5129	+0.063%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5135	+0.106%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5137	+0.122%	$49.5M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5135	+0.106%	$53.9M	$31.7M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5107	−0.076%	$1.6M	$29K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5112	−0.048%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5106	−0.084%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5133	+0.093%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5142	+0.152%	$1.8M	$35.5M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5145	+0.172%	$5.7M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5106	−0.083%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5142	+0.152%	$24.2M	$75.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0246%	1h	1.5144	+0.165%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5137	+0.120%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5115	−0.029%	$515K	$777K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5140	+0.139%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0630%	1h	1.5123	+0.024%	$2K	$15K	10x	as long as short