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 against Lighter RH−0.014%7-day average +0.012% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

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

Long on Lighter RH Short on Lighter

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+0.022%+$2 · spread now −0.014%, 7d avg +0.012%

Together, before fees+0.023%+ Points / potential airdropLighter RH: Points live · Lighter: Season 3 · farm board+$2 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 is 0.025% cheaper against Lighter RH than usual: you would sell low and buy high, −$3 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 RH XRP	1.5142	0.0096	pay 0.0012% / 1h	44m 41s	$518K	$3.3M	20x
Short	Lighter XRP	1.5140	0.0096	get 0.0012% / 1h	44m 41s	$2.8M	$14.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.014%Rate

Funding earned: $0
Price spread: −0.014% → +0.012%: −$2.52
Slippage, 4 orders: −$9.54
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.06
Costs to cover: 0.095%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; Lighter: live order book, 9 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	2.7 bp −$3	9.7 bp −$97	47.8 bp −$4,777	doesn't fit
Sell Lighter live order book, 9 min ago	2.76 bp	2.8 bp −$3	8.0 bp −$80	16.0 bp −$1,599	39.2 bp −$19.6K

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	1.5152	+0.066%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5135	−0.047%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.119%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5136	−0.040%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5137	−0.033%	$9.0M	$25.0M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0023% / S +0.0065%	1h	1.5136	−0.043%	$830K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.761%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5133	−0.061%	$14.6M	$72.3M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0068%	8h	1.5141	−0.007%	$57K	$945K	50x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5140	−0.014%	$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 XRPlong	+0.0096%	1h	1.5142	long leg	$518K	$3.3M	20x
Katana Perps XRP-USD	+0.0100%	8h	1.5141	−0.007%	$11K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5149	+0.050%	$864K	$5.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5146	+0.026%	$38.3M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5140	−0.013%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5142	+0.001%	$536.1M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5138	−0.026%	$337.2M	$938.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5141	−0.007%	$123.4M	$869.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5157	+0.099%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	+0.079%	$115K	$722K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	+0.270%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5147	+0.033%	$367.4M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5142	0.000%	$291.2M	$899.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5141	−0.007%	$108.3M	$171.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5140	−0.013%	$264.6M	$384.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5145	+0.020%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5155	+0.087%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5178	+0.239%	$660K	$108.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5207	+0.430%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5185	+0.284%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5150	+0.051%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5146	+0.026%	$45K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5142	−0.003%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5142	+0.001%	$815K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5152	+0.065%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5137	−0.033%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5142	+0.001%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5136	−0.040%	$53.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5143	+0.006%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5146	+0.024%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5137	−0.030%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5148	+0.040%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0178%	1h	1.5152	+0.066%	$280.3M	$223.2M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5139	−0.018%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5145	+0.020%	$5.7M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.337%	$24.0M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5156	+0.090%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0333%	8h	1.5157	+0.099%	$2.1M	$36.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0358%	1h	1.5150	+0.053%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5151	+0.060%	$536K	$782K	10x	as long as short
Aftermath Perps XRPUSD	+0.0806%	1h	1.5171	+0.194%	$2K	$14K	10x	as long as short