Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.030%

Price spread now: Lighter against edgeX+0.159%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$140.145% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 7 days−0.126%−$13 · spread now +0.159%, 7d avg +0.032%

Together, before fees−0.058%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board−$6 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 0.127% dearer against edgeX than usual: you sell high and buy low, +$13 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XRPUSDC	1.5177	0.0100	pay 0.0050% / 4h	1h 31m	$659K	$109.3M	30x
Short	Lighter XRP	1.5201	0.0096	get 0.0012% / 1h	31m 28s	$2.8M	$14.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.159%Rate

Funding earned: −$0.84
Price spread: +0.159% → +0.032%: $12.66
Slippage, 4 orders: −$5.46
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.64
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from edgeX: live order book, 3 min ago; Lighter: live order book, 7 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 edgeX live order book, 3 min ago	0.99 bp	5.5 bp −$5	5.5 bp −$55	8.9 bp −$891	doesn't fit
Sell Lighter live order book, 7 min ago	0.84 bp	2.3 bp −$2	6.7 bp −$67	17.5 bp −$1,750	40.7 bp −$20.3K

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	1.5193	+0.108%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5191	+0.092%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5200	+0.158%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5184	+0.049%	$7.7M	$25.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.526%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0044%	1h	1.5200	+0.152%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5207	+0.200%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5204	+0.181%	$62K	$935K	50x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5201	+0.159%	$2.8M	$14.4M	20x
Lighter RH XRP	+0.0096%	1h	1.5199	+0.148%	$513K	$3.3M	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	+0.0100%	8h	1.5195	+0.121%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5202	+0.171%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5212	+0.233%	$281.9M	$221.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5206	+0.194%	$38.5M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5201	+0.162%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5202	+0.168%	$538.9M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5205	+0.187%	$345.3M	$927.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5207	+0.200%	$126.1M	$870.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5156	−0.136%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5206	+0.194%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.135%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5203	+0.174%	$370.6M	$152.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5199	+0.148%	$294.2M	$897.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5201	+0.164%	$107.0M	$171.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5198	+0.141%	$268.2M	$380.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5204	+0.181%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	−0.172%	$5.7M	$36.3M	—	as long as short
edgeX XRPUSDClong	+0.0100%	4h	1.5177	long leg	$659K	$109.3M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5189	+0.081%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	−0.103%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5198	+0.142%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5206	+0.194%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5199	+0.148%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5183	+0.044%	$817K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5197	+0.137%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5182	+0.036%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	+0.010%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5181	+0.029%	$54.0M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5201	+0.164%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5202	+0.165%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5204	+0.181%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0208%	1h	1.5189	+0.082%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5198	+0.144%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5186	+0.062%	$5.6M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5175	−0.010%	$24.3M	$75.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5184	+0.049%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5177	+0.003%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0353%	8h	1.5194	+0.115%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5209	+0.216%	$518K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.088%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0675%	1h	1.5168	−0.057%	$2K	$14K	10x	as long as short