Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against HTX+0.067%7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 4 days (all we have)+0.548%+$55 · spread now +0.067%, 7d avg +0.056%

Together, before fees+0.434%+ Points / potential airdropLighter: Season 3 · farm board+$43 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5170	0.0100	pay 0.0100% / 8h	5h 33m	$49.6M	$15.6M	75x
Short	Lighter XRP	1.5180	0.0096	get 0.0012% / 1h	33m 49s	$2.8M	$14.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$0.84
Price spread: +0.067% → +0.056%: $1.09
Slippage, 4 orders: −$10.08
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$21.83
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Lighter: live order book, 5 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 HTX live order book, 5 min ago	0.03 bp	10.1 bp −$10	12.8 bp −$128	31.8 bp −$3,177	118.1 bp −$59.1K
Sell Lighter live order book, 5 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	1.5161	−0.056%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5171	+0.013%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5164	−0.038%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0033% / S +0.0045%	1h	1.5164	−0.038%	$819K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.574%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5163	−0.043%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5170	+0.003%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5174	+0.030%	$7.7M	$25.4M	50x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5180	+0.067%	$2.8M	$14.4M	20x
Lighter RH XRP	+0.0096%	1h	1.5179	+0.063%	$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	1.5154	−0.102%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5168	−0.007%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5188	+0.122%	$281.3M	$220.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5178	+0.053%	$38.5M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5183	+0.088%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5182	+0.082%	$538.2M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5183	+0.089%	$344.5M	$925.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5185	+0.102%	$125.7M	$868.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5112	−0.379%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5162	−0.049%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.088%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5174	+0.030%	$370.4M	$151.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5183	+0.089%	$293.9M	$897.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5177	+0.051%	$106.9M	$171.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5175	+0.036%	$267.2M	$380.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5173	+0.023%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	−0.125%	$5.7M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5123	−0.308%	$657K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5134	−0.234%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5125	−0.293%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5162	−0.048%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5164	−0.036%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5166	−0.023%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5172	+0.018%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5171	+0.007%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5170	+0.003%	$29K	$1.7M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5170	long leg	$49.6M	$15.6M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5179	+0.063%	$54.0M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5183	+0.092%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5170	+0.005%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5169	−0.005%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5183	+0.089%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5162	−0.047%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5174	+0.030%	$5.6M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5161	−0.056%	$24.3M	$74.9M	125x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5163	−0.041%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5172	+0.014%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0353%	8h	1.5162	−0.049%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5167	−0.019%	$516K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	−0.260%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0687%	1h	1.5144	−0.171%	$2K	$14K	10x	as long as short