Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter RH against Bybit+0.072%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$160.163% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 7 days−0.062%−$6 · spread now +0.072%, 7d avg −0.009%

Together, before fees−0.101%+ 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: Lighter RH is 0.081% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5329	0.0100	pay 0.0100% / 8h	7h 35m	$341.5M	$922.8M	100x
Short	Lighter RH XRP	1.5340	0.0096	get 0.0012% / 1h	35m 52s	$513K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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 BybitbpFee Lighter RHbpOrdersPrice spread, now +0.072%Rate

Funding earned: −$0.84
Price spread: +0.072% → −0.009%: $8.12
Slippage, 4 orders: −$5.25
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$8.98
Costs to cover: 0.163%
Break-even: never at this rate

Slippage from Bybit: 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 Bybit live order book, 3 min ago	0.33 bp	6.1 bp −$6	8.0 bp −$80	13.5 bp −$1,351	26.9 bp −$13.4K
Sell Lighter RH live order book, 2 min ago	1.31 bp	2.2 bp −$2	5.8 bp −$58	40.1 bp −$4,010	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5333	+0.026%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5340	+0.070%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5328	−0.005%	$256K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5333	+0.026%	$9.3M	$25.2M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0012% / S +0.0082%	1h	1.5328	−0.007%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.507%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5330	+0.007%	$58K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5339	+0.066%	$2.8M	$13.9M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5340	+0.072%	$513K	$3.2M	20x
Katana Perps XRP-USD	+0.0100%	8h	1.5336	+0.046%	$10K	$279K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5337	+0.049%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5338	+0.062%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5337	+0.053%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5339	+0.065%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5325	−0.026%	$539.7M	$2.06B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5329	long leg	$341.5M	$922.8M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5330	+0.007%	$124.8M	$870.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5328	−0.007%	$571K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5340	+0.072%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5296	−0.216%	$1.6M	$517K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5323	−0.039%	$373.9M	$149.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5322	−0.046%	$308.0M	$901.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5330	+0.009%	$108.7M	$165.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5330	+0.007%	$268.1M	$375.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5325	−0.026%	—	$123.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	−0.006%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5307	−0.141%	$665K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5296	−0.215%	$1.1M	$39.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5306	−0.150%	$1.0M	$892K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5329	+0.001%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5338	+0.059%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5330	+0.008%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5333	+0.025%	$825K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5341	+0.078%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5332	+0.020%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5343	+0.089%	$50.3M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5339	+0.065%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5326	−0.018%	$2.1M	$7.1M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5336	+0.046%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5330	+0.009%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5328	−0.004%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5329	0.000%	$24.0M	$74.3M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5345	+0.104%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5336	+0.048%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0285%	1h	1.5346	+0.111%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5346	+0.111%	$2.1M	$35.1M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5300	−0.186%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0407%	1h	1.5351	+0.144%	$289.9M	$214.4M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5350	+0.137%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0792%	1h	1.5329	+0.001%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5343	+0.088%	$507K	$755K	10x	as long as short