XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.027%

Price spread now: Deribit against Lighter+0.024%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$150.148% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.154%+$15 on $10k

Price spread, last 3 days (all we have)−0.167%−$17 · spread now +0.024%, 7d avg +0.012%

Together, before fees−0.014%+ Points / potential airdropLighter: Season 3 · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.012%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.154%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5462	0.0096	pay 0.0012% / 1h	29m 47s	$3.0M	$12.1M	20x
Short	Deribit XRP_USDC-PERPETUAL	1.5466	0	get 0.0000% / 1h	29m 47s	$9.5M	$25.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Lighter. 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 LighterbpFee DeribitbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$20.16
Price spread: +0.024% → +0.012%: $1.11
Slippage, 4 orders: −$7.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.87
Costs to cover: 0.148%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Deribit: live order book, 4 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 Lighter live order book, 4 min ago	1.14 bp	1.1 bp −$1	6.2 bp −$62	17.9 bp −$1,794	43.4 bp −$21.7K
Sell Deribit live order book, 4 min ago	0.32 bp	5.7 bp −$6	7.5 bp −$75	46.3 bp −$4,634	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	1.5461	−0.009%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5453	−0.064%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUALshort	0.0000%	1h	1.5466	+0.024%	$9.5M	$25.3M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5468	+0.037%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.115%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0042%	1h	1.5467	+0.028%	$15.4M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5465	+0.017%	$77K	$942K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0125%	1h	1.5468	+0.037%	$911K	—	200x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5462	long leg	$3.0M	$12.1M	20x
Lighter RH XRP	+0.0096%	1h	1.5469	+0.043%	$438K	$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
Nado XRP-PERP	+0.0100%	1h	1.5457	−0.031%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5473	+0.068%	$39.2M	$77.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5462	−0.005%	$667K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5492	+0.193%	$557.9M	$1.96B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5498	+0.231%	$345.9M	$890.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5496	+0.218%	$126.6M	$874.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5515	+0.341%	$577K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5462	−0.002%	$118K	$737K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5487	+0.159%	$373.3M	$139.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5488	+0.166%	$288.8M	$845.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5488	+0.166%	$113.2M	$158.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5495	+0.211%	$270.0M	$361.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5482	+0.127%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5485	+0.144%	$11.7M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5531	+0.445%	$674K	$101.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5554	+0.595%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5529	+0.431%	$1.0M	$882K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5466	+0.024%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5460	−0.015%	$45K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5473	+0.069%	$42K	$65K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5470	+0.052%	$833K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5472	+0.064%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5466	+0.024%	$29K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5453	−0.064%	$50.8M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5468	+0.037%	$55.1M	$29.1M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5477	+0.093%	$1.7M	$578K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5456	−0.041%	$482K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5457	−0.035%	$12K	$251K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5480	+0.111%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5467	+0.027%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5466	+0.024%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5488	+0.168%	$18K	$81K	7x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5462	−0.004%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5472	+0.062%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5470	+0.049%	$24.6M	$73.1M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0245%	1h	1.5474	+0.075%	$1.8M	$995K	25x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5473	+0.069%	$1.9M	$32.7M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5570	+0.696%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5466	+0.021%	$506K	$627K	10x	as long as short
Hyperliquid XRP	+0.0596%	1h	1.5513	+0.328%	$290.3M	$202.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0726%	1h	1.5546	+0.541%	$1K	$11K	10x	as long as short