Funding arb · Price arb /

XRP

all XRP markets

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: Bybit against Lighter RH−0.046%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$170.174% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.046%, 7d avg +0.009%

Together, before fees+0.075%+ Points / potential airdropLighter RH: Points live · farm board+$7 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: Bybit is 0.055% cheaper against Lighter RH than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5325	0.0096	pay 0.0012% / 1h	6m 21s	$514K	$3.3M	20x
Short	Bybit XRPUSDT	1.5318	0.0100	get 0.0100% / 8h	7h 06m	$341.5M	$918.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.046%Rate

Funding earned: $0.84
Price spread: −0.046% → +0.009%: −$5.51
Slippage, 4 orders: −$6.37
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$22.03
Costs to cover: 0.174%
Break-even: 190.6 days

Slippage from Lighter RH: live order book, 2 min ago; Bybit: 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	1.95 bp	3.0 bp −$3	6.7 bp −$67	41.0 bp −$4,100	doesn't fit
Sell Bybit live order book, 3 min ago	0.33 bp	6.5 bp −$7	8.0 bp −$80	13.3 bp −$1,331	23.2 bp −$11.6K

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	1.5344	+0.124%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5322	−0.023%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5315	−0.068%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0072%	1h	1.5313	−0.077%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.533%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0064%	8h	1.5316	−0.059%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5313	−0.078%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5340	+0.099%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5325	long leg	$514K	$3.3M	20x
Katana Perps XRP-USD	+0.0100%	8h	1.5319	−0.039%	$9K	$281K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5321	−0.025%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5328	+0.023%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5322	−0.019%	$38.7M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5327	+0.013%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5317	−0.052%	$541.1M	$2.05B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5318	−0.046%	$341.5M	$918.5M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5316	−0.059%	$124.4M	$866.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5351	+0.170%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5323	−0.013%	$117K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.161%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5317	−0.052%	$373.9M	$152.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5318	−0.046%	$303.8M	$915.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5316	−0.056%	$111.0M	$167.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5316	−0.059%	$268.6M	$375.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5317	−0.052%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5354	+0.189%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5376	+0.333%	$668K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5355	+0.196%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5390	+0.424%	$1.2M	$997K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5325	+0.001%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5319	−0.039%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5316	−0.056%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5354	+0.190%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5357	+0.211%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5351	+0.170%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5349	+0.157%	$50.3M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5351	+0.170%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5316	−0.061%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5318	−0.045%	$59K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0141%	1h	1.5352	+0.176%	$9.3M	$24.9M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5315	−0.066%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5355	+0.196%	$24.1M	$74.0M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5358	+0.215%	$5.7M	$46.7M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5351	+0.167%	$14.5M	$70.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5349	+0.157%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0312%	1h	1.5359	+0.222%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5360	+0.228%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0373%	1h	1.5330	+0.033%	$289.9M	$214.5M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5360	+0.228%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5322	−0.019%	$542K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0836%	1h	1.5349	+0.159%	$2K	$13K	10x	as long as short