Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Lighter RH against Lighter+0.028%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$100.095% of the position

Long on Lighter Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 7 days−0.037%−$4 · spread now +0.028%, 7d avg −0.012%

Together, before fees−0.038%+ Points / potential airdropLighter: Season 3 · Lighter RH: Points live · farm board−$4 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 RH is 0.040% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5137	0.0096	pay 0.0012% / 1h	45m 05s	$2.8M	$14.1M	20x
Short	Lighter RH XRP	1.5141	0.0096	get 0.0012% / 1h	45m 05s	$518K	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.028%Rate

Funding earned: $0
Price spread: +0.028% → −0.012%: $3.97
Slippage, 4 orders: −$9.54
Fee Lighter: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$5.56
Costs to cover: 0.095%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Lighter RH: live order book, 3 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, 8 min ago	2.76 bp	2.8 bp −$3	6.3 bp −$63	15.9 bp −$1,589	38.3 bp −$19.2K
Sell Lighter RH live order book, 3 min ago	1.32 bp	1.3 bp −$1	5.6 bp −$56	37.8 bp −$3,780	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	1.5152	+0.101%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5145	+0.056%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.154%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5136	−0.005%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5137	+0.002%	$9.0M	$25.0M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0065%	1h	1.5136	−0.008%	$830K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.796%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5133	−0.026%	$14.6M	$72.3M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0068%	8h	1.5141	+0.028%	$57K	$945K	50x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5137	long leg	$2.8M	$14.1M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRPshort	+0.0096%	1h	1.5141	+0.028%	$518K	$3.3M	20x
Katana Perps XRP-USD	+0.0100%	8h	1.5141	+0.028%	$11K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5149	+0.084%	$864K	$5.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5141	+0.030%	$38.3M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5154	+0.113%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5145	+0.054%	$536.2M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5145	+0.054%	$337.3M	$938.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5149	+0.081%	$123.4M	$870.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5157	+0.134%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	+0.114%	$115K	$722K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.305%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5142	+0.035%	$367.3M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5143	+0.041%	$291.0M	$898.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5144	+0.045%	$108.1M	$171.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5142	+0.035%	$264.6M	$383.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5145	+0.054%	—	$126.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	+0.121%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5178	+0.273%	$660K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5207	+0.465%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5185	+0.319%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5150	+0.086%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5146	+0.061%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5142	+0.032%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5142	+0.036%	$815K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5152	+0.100%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5137	+0.002%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5142	+0.036%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5136	−0.005%	$53.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5154	+0.115%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5132	−0.028%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5137	+0.005%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5148	+0.074%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0180%	1h	1.5152	+0.101%	$280.3M	$223.1M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5139	+0.017%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5145	+0.054%	$5.7M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.372%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5156	+0.125%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0333%	8h	1.5157	+0.134%	$2.1M	$36.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0358%	1h	1.5150	+0.087%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5151	+0.095%	$536K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0806%	1h	1.5171	+0.229%	$2K	$14K	10x	as long as short