Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0124%/8h= −13.6% APRpaid last 24h −0.037%

Price spread now: Lighter RH against BloFin−0.072%61s7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as 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−$210.205% of the position

Long on BloFin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.228%−$23 on $10k

Price spread, last 4 days (all we have)+0.724%+$72 · spread now −0.072%, 7d avg +0.004%

Together, before fees+0.496%+ Points / potential airdropLighter RH: Points live · farm board+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter RH is 0.077% cheaper against BloFin than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.004%). Swap the legs. The two prices were read 61 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	BloFin XRP-USDT	1.5177	0.0220	pay 0.0220% / 8h	7h 26m	$23.8M	$77.7M	125x
Short	Lighter RH XRP	1.5166	0.0096	get 0.0012% / 1h	26m 08s	$616K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against BloFin. 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 BloFinbpFee Lighter RHbpOrdersPrice spread, now −0.072%Rate

Funding earned: −$26.04
Price spread: −0.072% → +0.004%: −$7.66
Slippage, 4 orders: −$8.53
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$54.23
Costs to cover: 0.205%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Lighter RH: 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 BloFin live order book, 3 min ago	1.98 bp	8.0 bp −$8	10.6 bp −$106	15.2 bp −$1,516	28.0 bp −$14.0K
Sell Lighter RH live order book, 2 min ago	1.98 bp	2.6 bp −$3	6.3 bp −$63	34.4 bp −$3,440	doesn't fit

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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5163	−0.091%	$14.7M	$74.1M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5174	−0.020%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.046%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5154	−0.150%	$246K	—	150x	as long as short
dYdX XRP-USD	+0.0009%	1h	1.5160	−0.111%	$1.1M	$158K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5167	−0.066%	$7.7M	$23.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.524%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5176	−0.004%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5162	−0.101%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5166	−0.072%	$616K	$3.1M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange XRPUSD	+0.0096%	1h	1.5163	−0.092%	$8K	$2K	10x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5153	−0.158%	$20K	$381K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5157	−0.130%	$990K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5166	−0.074%	$38.5M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5168	−0.059%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5174	−0.022%	$528.6M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5177	0.000%	$353.3M	$934.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5179	+0.013%	$126.0M	$847.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5125	−0.343%	$557K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5167	−0.066%	$143K	$703K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−0.234%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5160	−0.112%	$377.1M	$154.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5159	−0.119%	$314.0M	$919.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5164	−0.088%	$106.7M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5158	−0.125%	$268.0M	$377.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5161	−0.105%	—	$108.3M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5142	−0.231%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5143	−0.224%	$658K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5143	−0.225%	$1.1M	$33.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5148	−0.191%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5173	−0.029%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5166	−0.072%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5160	−0.114%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5160	−0.112%	$77K	$647K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.181%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5167	−0.067%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5161	−0.105%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5162	−0.099%	$49.5M	$14.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5162	−0.099%	$54.0M	$32.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5166	−0.075%	$473K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5155	−0.145%	$2.1M	$6.6M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5159	−0.116%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0121% / S −0.0087%	1h	1.5156	−0.140%	$786K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5164	−0.086%	$5.3M	$47.4M	50x	as long as short
Kalshi KXXRPPERP	+0.0168%	8h	1.5166	−0.072%	$1.7M	$33.3M	2.9x	as long as short
Hyperliquid XRP	+0.0175%	1h	1.5175	−0.013%	$290.0M	$268.0M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0191%	1h	1.5169	−0.053%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDTlong	+0.0220%	8h	1.5177	long leg	$23.8M	$77.7M	125x
Reya XRPRUSDPERP	+0.0221%	1h	1.5166	−0.071%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5164	−0.087%	$519K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0560%	1h	1.5169	−0.049%	$2K	$16K	10x	as long as short