Funding you earn now, next payment 05:00 UTC+0.0146%/8h= +16.0% APRnext payment +$0.18 per $10,000 · paid last 24h +0.026%
Price spread now: Backpack against Lighter RH+0.079%7-day average −0.038% · you sell dearer than you buy
Net, funding: paid 7d − costs$0as in the Funding arb table
Net, price: spread back to 7d avg − costs−$2as in the Price arb table
costs, in and out, $10k−$140.142% of the position
Funding, last 7 days+0.143%+$14 on $10k
+Price spread, last 7 days−0.127%−$13 · spread now +0.079%, 7d avg −0.038%
=Together, before fees+0.016%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Backpack is 0.118% dearer against Lighter RH than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.038%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH XRP | 1.5135 | 0.0096 | pay 0.0012% / 1h | 56m 31s | $497K | $3.3M | 20x |
| Short | Backpack XRP_USDC_PERP | 1.5147 | 0.0242 | get 0.0030% / 1h | 56m 31s | $2.0M | $1.4M | 25x |
Lighter RH XRP
Backpack XRP_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Lighter RH. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $30.61
- Price spread: +0.079% → −0.038%
- $11.75
- Slippage, 4 orders
- −$4.19
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $28.18
- Costs to cover
- 0.142%
- Break-even
- 0.6 days
Slippage from Lighter RH: live order book, 2 min ago; Backpack: 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 RH live order book, 2 min ago | 1.32 bp | 2.2 bp −$2 | 6.0 bp −$60 | 40.7 bp −$4,068 | doesn't fit |
| Sell Backpack live order book, 3 min ago | 0.33 bp | 5.3 bp −$5 | 6.4 bp −$64 | 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 | 1.5135 | 0.000% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5124 | −0.075% | $1.1M | $111K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5150 | +0.099% | $67K | $110K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5137 | +0.015% | $253K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0014% | 1h | 1.5141 | +0.040% | $7.7M | $25.5M | 50x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0022% | 1h | 1.5137 | +0.015% | $14.3M | $73.9M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.808% | $2K | $107K | 30x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0048% / S +0.0018% | 1h | 1.5137 | +0.011% | $789K | — | 200x | as long as short |
| Orderly PERP_XRP_USDC | +0.0095% | 8h | 1.5140 | +0.033% | $62K | $934K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5134 | −0.007% | $2.8M | $14.6M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
Deribit XRP_USDC-PERPETUAL
Kraken Futures PF_XRPUSD
Injective XRP/USDC PERP
GMX XRP/USD [ETH-USDC]
Orderly PERP_XRP_USDC
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRPlong | +0.0096% | 1h | 1.5135 | long leg | $497K | $3.3M | 20x | |
| Katana Perps XRP-USD | +0.0098% | 8h | 1.5121 | −0.093% | $10K | $331K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5128 | −0.043% | $1.1M | $6.0M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5132 | −0.020% | $38.3M | $83.9M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5127 | −0.050% | $607K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5136 | +0.007% | $532.4M | $2.13B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5131 | −0.026% | $346.4M | $938.5M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5132 | −0.020% | $127.6M | $876.6M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5138 | +0.020% | $563K | $28K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5134 | −0.007% | $118K | $706K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5114 | −0.139% | $1.6M | $49K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5128 | −0.046% | $369.7M | $152.9M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5129 | −0.040% | $292.5M | $895.5M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5133 | −0.013% | $107.9M | $175.8M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5129 | −0.040% | $268.0M | $386.0M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5137 | +0.013% | — | $4.2M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5154 | +0.125% | $4.8M | $38.1M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5146 | +0.073% | $658K | $108.6M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5141 | +0.039% | $1.1M | $36.0M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5151 | +0.106% | $1.2M | $1.1M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5132 | −0.019% | — | $11K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5130 | −0.033% | $44K | $454K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5136 | +0.007% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5141 | +0.038% | $815K | $72K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5145 | +0.067% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5139 | +0.026% | $28K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5141 | +0.040% | $49.5M | $15.7M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5140 | +0.033% | $53.9M | $31.1M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5130 | −0.031% | $472K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5125 | −0.063% | $2.0M | $6.8M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5136 | +0.008% | $58K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0120% | 1h | 1.5134 | −0.007% | $8K | $8K | 10x | as long as short |
| Hyperliquid XRP | +0.0124% | 1h | 1.5142 | +0.046% | $280.1M | $228.1M | 20x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0184% | 1h | 1.5147 | +0.079% | $5.6M | $47.1M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0216% | 1h | 1.5142 | +0.045% | $17K | $82K | 7x | as long as short |
| Reya XRPRUSDPERP | +0.0216% | 1h | 1.5126 | −0.058% | $1.3M | $7K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5140 | +0.033% | $24.2M | $76.1M | 125x | as long as short |
| Backpack XRP_USDC_PERPshort | +0.0242% | 1h | 1.5147 | +0.079% | $2.0M | $1.4M | 25x | |
| Kalshi KXXRPPERP | +0.0244% | 8h | 1.5151 | +0.106% | $2.0M | $35.0M | 2.9x | as long as short |
| RISEx XRP/USDC | +0.0358% | 1h | 1.5134 | −0.005% | $515K | $773K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0666% | 1h | 1.5139 | +0.026% | $2K | $15K | 10x | as long as short |
Katana Perps XRP-USD
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Hyperliquid XRP
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
Reya XRPRUSDPERP
BloFin XRP-USDT
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD