Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: HTX against Lighter RH+0.057%7-day average −0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$210.206% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$11 on $10k

Price spread, last 4 days (all we have)−0.661%−$66 · spread now +0.057%, 7d avg −0.053%

Together, before fees−0.546%+ Points / potential airdropLighter RH: Points live · farm board−$55 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: HTX is 0.110% dearer against Lighter RH than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5173	0.0096	pay 0.0012% / 1h	28m 57s	$512K	$3.3M	20x
Short	HTX XRP-USDT	1.5182	0.0100	get 0.0100% / 8h	5h 28m	$49.7M	$15.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.057%Rate

Funding earned: $0.84
Price spread: +0.057% → −0.053%: $11
Slippage, 4 orders: −$8.62
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$8.77
Costs to cover: 0.206%
Break-even: 80.1 days

Slippage from Lighter RH: live order book, 4 min ago; HTX: live order book, 5 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, 4 min ago	1.32 bp	1.3 bp −$1	6.0 bp −$60	40.8 bp −$4,081	doesn't fit
Sell HTX live order book, 5 min ago	0.03 bp	8.6 bp −$9	11.7 bp −$117	29.5 bp −$2,954	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	1.5187	+0.092%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	+0.102%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5183	+0.064%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5176	+0.020%	$7.7M	$25.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.551%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0043%	1h	1.5183	+0.064%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5181	+0.053%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5179	+0.040%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5173	−0.001%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5173	long leg	$512K	$3.3M	20x

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	1.5172	−0.007%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5183	+0.063%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5184	+0.072%	$281.4M	$221.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5177	+0.027%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5187	+0.092%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5171	−0.010%	$537.8M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5166	−0.046%	$344.4M	$927.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5170	−0.020%	$125.9M	$868.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5171	−0.013%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5187	+0.092%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.111%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5173	0.000%	$369.5M	$152.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5175	+0.013%	$291.6M	$898.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5172	−0.005%	$108.4M	$171.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5171	−0.013%	$268.0M	$380.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5169	−0.026%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	+0.167%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	+0.024%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5214	+0.269%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	+0.231%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5190	+0.114%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5188	+0.099%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5185	+0.079%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5180	+0.046%	$817K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5187	+0.089%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5173	0.000%	$28K	$1.7M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5182	+0.057%	$49.7M	$15.6M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5171	−0.013%	$54.0M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	+0.098%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5170	−0.018%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5172	−0.009%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5178	+0.033%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5184	+0.072%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5177	+0.026%	$5.6M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5178	+0.033%	$24.2M	$75.1M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5198	+0.166%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5170	−0.018%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5182	+0.059%	$2.1M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5187	+0.091%	$517K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.112%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0680%	1h	1.5182	+0.061%	$2K	$14K	10x	as long as short