Funding arb · Price arb /

XRP

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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: KuCoin against Lighter+0.064%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$210.208% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$1 on $10k

Price spread, last 7 days−0.092%−$9 · spread now +0.064%, 7d avg +0.007%

Together, before fees−0.077%+ Points / potential airdropLighter: Season 3 · farm board−$8 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: KuCoin is 0.056% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5334	0.0096	pay 0.0012% / 1h	27m 27s	$2.8M	$14.0M	20x
Short	KuCoin XRPUSDTM	1.5344	0.0100	get 0.0100% / 8h	7h 27m	$108.9M	$165.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.064%Rate

Funding earned: $0.84
Price spread: +0.064% → +0.007%: $5.62
Slippage, 4 orders: −$8.78
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$14.32
Costs to cover: 0.208%
Break-even: 126.3 days

Slippage from Lighter: live order book, 6 min ago; KuCoin: 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 Lighter live order book, 6 min ago	1.43 bp	3.4 bp −$3	7.8 bp −$78	15.6 bp −$1,559	37.5 bp −$18.8K
Sell KuCoin live order book, 7 min ago	0.03 bp	6.8 bp −$7	10.7 bp −$107	34.5 bp −$3,450	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	1.5340	+0.037%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5333	−0.008%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5334	−0.002%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0014% / S +0.0079%	1h	1.5333	−0.007%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.472%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0062%	8h	1.5339	+0.031%	$58K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5341	+0.044%	$9.3M	$25.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5342	+0.050%	$8K	$8K	10x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5334	long leg	$2.8M	$14.0M	20x
Lighter RH XRP	+0.0096%	1h	1.5343	+0.057%	$515K	$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
Katana Perps XRP-USD	+0.0100%	8h	1.5342	+0.050%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5332	−0.014%	$478K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5340	+0.041%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5340	+0.040%	$38.8M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5337	+0.017%	$620K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5348	+0.090%	$541.4M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5343	+0.057%	$342.1M	$919.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5342	+0.050%	$124.9M	$867.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	+0.070%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5339	+0.031%	$118K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	+0.001%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5332	−0.015%	$374.2M	$149.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5342	+0.050%	$312.6M	$904.3M	300x	as long as short
KuCoin XRPUSDTMshort	+0.0100%	8h	1.5344	+0.064%	$108.9M	$165.4M	75x
Bitget XRPUSDT	+0.0100%	8h	1.5342	+0.050%	$268.4M	$374.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5333	−0.008%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5328	−0.040%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5322	−0.081%	$665K	$107.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.002%	$1.1M	$38.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5331	−0.021%	$1.2M	$996K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5347	+0.083%	$49K	$441K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5340	+0.037%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5340	+0.035%	$826K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5334	−0.002%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5340	+0.037%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5333	−0.010%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5338	+0.024%	$54.6M	$29.5M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5338	+0.023%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5334	0.000%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5338	+0.027%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5340	+0.039%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5329	−0.034%	$24.0M	$73.6M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5345	+0.070%	$5.8M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5338	+0.022%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0292%	1h	1.5345	+0.070%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0309%	8h	1.5345	+0.070%	$2.1M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5337	+0.019%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0396%	1h	1.5357	+0.148%	$290.1M	$214.7M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5340	+0.037%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0805%	1h	1.5335	+0.006%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5345	+0.068%	$507K	$754K	10x	as long as short