XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0063%/8h= −6.9% APRnext payment −$0.08 per $10,000 · paid last 24h −0.017%

Price spread now: Injective against Lighter+2.650%66s7-day average −0.220% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as 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−$960.956% of the position

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.180%+$18 on $10k

Price spread, last 4 days (all we have)−3.866%−$387 · spread now +2.650%, 7d avg −0.220%

Together, before fees−3.686%+ Points / potential airdropLighter: Season 3 · farm board−$369 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.870% dearer against Lighter than usual: you sell high and buy low (spread +2.650% now, against its 7-day average of −0.220%): +$287 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months. Mind the row above: over the last 7 days funding on this pair paid +0.180%, so the current rate has only just turned against you. The two prices were read 66 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	Lighter XRP	1.5158	0.0096	pay 0.0012% / 1h	36m 11s	$2.8M	$14.4M	20x
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	36m 11s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.650%Rate

Funding earned: −$13.16
Price spread: +2.650% → −0.220%: $287.04
Slippage, 4 orders: −$95.55
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $178.32
Costs to cover: 0.956%
Break-even: from the start

Slippage from Lighter: live order book, 12 min ago; Injective: live order book, 27 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, 12 min ago	0.59 bp	2.0 bp −$2	5.2 bp −$52	16.3 bp −$1,634	38.3 bp −$19.1K
Sell Injective live order book, 27 min ago	46.21 bp	46.2 bp −$46	59.5 bp −$595	doesn't fit	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	1.5132	−0.173%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5142	−0.110%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5151	−0.049%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0033% / S +0.0045%	1h	1.5150	−0.056%	$817K	—	200x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.650%	$2K	$107K	30x
01 Exchange XRPUSD	+0.0072%	1h	1.5143	−0.101%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5153	−0.035%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5158	−0.002%	$7.6M	$25.4M	50x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5158	long leg	$2.8M	$14.4M	20x
Lighter RH XRP	+0.0096%	1h	1.5159	+0.005%	$510K	$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	1.5135	−0.154%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5147	−0.078%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5153	−0.035%	$280.3M	$220.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5147	−0.071%	$38.4M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5148	−0.068%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5157	−0.007%	$537.3M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5153	−0.035%	$343.8M	$925.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5156	−0.015%	$125.5M	$866.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5112	−0.305%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5150	−0.055%	$114K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5136	−0.150%	$1.6M	$88K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5153	−0.035%	$370.2M	$151.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5155	−0.022%	$294.0M	$896.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5153	−0.034%	$106.7M	$171.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5153	−0.035%	$266.6M	$380.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5147	−0.074%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5121	−0.249%	$5.6M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5123	−0.234%	$657K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5119	−0.257%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5120	−0.253%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5140	−0.122%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5149	−0.061%	$42K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5151	−0.047%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5157	−0.008%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	−0.090%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5157	−0.008%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5137	−0.141%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5157	−0.008%	$53.9M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5148	−0.069%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5150	−0.053%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5153	−0.035%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5144	−0.094%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5144	−0.094%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5160	+0.011%	$5.6M	$46.4M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5139	−0.127%	$24.2M	$74.7M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5154	−0.030%	$14.5M	$73.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5131	−0.178%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0352%	8h	1.5142	−0.107%	$2.2M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5148	−0.068%	$516K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	−0.187%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0706%	1h	1.5133	−0.166%	$2K	$14K	10x	as long as short