Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bitget against Lighter RH−0.155%7-day average +0.016% · you buy dearer than you sell

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$160.156% of the position

Long on Lighter RH Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days+0.176%+$18 · spread now −0.155%, 7d avg +0.016%

Together, before fees+0.226%+ Points / potential airdropLighter RH: Points live · farm board+$23 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: Bitget is 0.171% cheaper against Lighter RH than usual: you would sell low and buy high, −$17 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5512	0.0096	pay 0.0012% / 1h	32m 12s	$455K	$3.1M	20x
Short	Bitget XRPUSDT	1.5488	0.0100	get 0.0100% / 8h	1h 32m	$270.0M	$359.9M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 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 Lighter RHbpFee BitgetbpOrdersPrice spread, now −0.155%Rate

Funding earned: $0.84
Price spread: −0.155% → +0.016%: −$17.1
Slippage, 4 orders: −$3.6
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$31.86
Costs to cover: 0.156%
Break-even: 272.5 days

Slippage from Lighter RH: live order book, 1 min ago; Bitget: live order book, 2 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, 1 min ago	1.29 bp	1.3 bp −$1	5.0 bp −$50	36.8 bp −$3,675	doesn't fit
Sell Bitget live order book, 2 min ago	0.32 bp	6.5 bp −$6	9.5 bp −$95	22.1 bp −$2,207	42.4 bp −$21.2K

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	1.5521	+0.058%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5517	+0.035%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5499	−0.084%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5498	−0.087%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.431%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5509	−0.019%	$15.6M	$68.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5496	−0.103%	$77K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0128%	1h	1.5498	−0.092%	$913K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5502	−0.065%	$3.0M	$12.0M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5512	long leg	$455K	$3.1M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5498	−0.087%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5504	−0.054%	$39.2M	$77.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5522	+0.064%	$670K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5506	−0.036%	$558.4M	$1.96B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5504	−0.052%	$347.8M	$886.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5488	−0.155%	$127.2M	$871.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5515	+0.019%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5520	+0.052%	$117K	$736K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+1.102%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5493	−0.122%	$373.1M	$139.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5505	−0.045%	$291.2M	$842.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5509	−0.019%	$113.6M	$158.0M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5488	−0.155%	$270.0M	$359.9M	125x
BingX XRP-USDC	+0.0100%	8h	1.5497	−0.097%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5595	+0.533%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5564	+0.332%	$677K	$100.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5554	+0.273%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5582	+0.451%	$1.0M	$881K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5495	−0.110%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5500	−0.077%	$42K	$65K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5498	−0.088%	$834K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5509	−0.020%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5500	−0.077%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5491	−0.134%	$50.9M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5508	−0.026%	$55.3M	$29.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5505	−0.044%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5521	+0.056%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5513	+0.006%	$12K	$250K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5493	−0.122%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5496	−0.104%	$72K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5528	+0.102%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5515	+0.019%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5497	−0.099%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5512	0.000%	$5.8M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5518	+0.039%	$24.6M	$73.3M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0260%	1h	1.5501	−0.071%	$1.8M	$994K	25x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5521	+0.058%	$1.9M	$32.5M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5570	+0.374%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5522	+0.066%	$509K	$623K	10x	as long as short
Hyperliquid XRP	+0.0596%	1h	1.5510	−0.013%	$289.8M	$200.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0709%	1h	1.5580	+0.437%	$1K	$11K	10x	as long as short