Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Phemex against Lighter RH−0.013%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Lighter RH Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 4 days (all we have)−0.582%−$58 · spread now −0.013%, 7d avg −0.009%

Together, before fees−0.544%+ Points / potential airdropLighter RH: Points live · farm board−$54 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5162	0.0096	pay 0.0012% / 1h	28m 57s	$618K	$3.1M	20x
Short	Phemex XRPUSDT	1.5160	0.0100	get 0.0100% / 8h	7h 28m	$54.0M	$32.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.013%Rate

Funding earned: $0.84
Price spread: −0.013% → −0.009%: −$0.43
Slippage, 4 orders: −$16.06
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$27.65
Costs to cover: 0.281%
Break-even: 237.4 days

Slippage from Lighter RH: live order book, 4 min ago; Phemex: 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	1.65 bp	2.7 bp −$3	4.2 bp −$42	43.6 bp −$4,360	doesn't fit
Sell Phemex live order book, 5 min ago	0.33 bp	15.8 bp −$16	18.4 bp −$184	33.1 bp −$3,314	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
Kraken Futures PF_XRPUSD	−0.0172%	1h	1.5158	−0.024%	$14.7M	$74.5M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5146	−0.106%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.053%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5158	−0.027%	$246K	—	150x	as long as short
dYdX XRP-USD	+0.0010%	1h	1.5159	−0.023%	$1.1M	$158K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5162	0.000%	$7.7M	$23.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.625%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5146	−0.104%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5159	−0.021%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5162	long leg	$618K	$3.1M	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	1.5143	−0.125%	$20K	$381K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5149	−0.089%	$990K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5157	−0.032%	$38.5M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5157	−0.034%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5159	−0.023%	$528.4M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5157	−0.033%	$352.9M	$938.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5158	−0.026%	$125.9M	$848.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5125	−0.244%	$556K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5156	−0.040%	$143K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	+0.257%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5160	−0.013%	$377.2M	$154.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5158	−0.026%	$313.8M	$918.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5157	−0.030%	$105.8M	$182.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5153	−0.059%	$267.9M	$380.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5150	−0.079%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5142	−0.132%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5143	−0.126%	$658K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5143	−0.126%	$1.1M	$33.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5148	−0.092%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5156	−0.040%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5152	−0.066%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5154	−0.053%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5160	−0.013%	$77K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.082%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5162	0.000%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5158	−0.026%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5148	−0.092%	$49.5M	$14.7M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5160	−0.013%	$54.0M	$32.8M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5159	−0.021%	$473K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5150	−0.082%	$2.1M	$6.7M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5150	−0.079%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5157	−0.032%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0119% / S −0.0085%	1h	1.5151	−0.071%	$785K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5161	−0.007%	$5.3M	$47.7M	50x	as long as short
Kalshi KXXRPPERP	+0.0168%	8h	1.5164	+0.013%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRP	+0.0179%	1h	1.5172	+0.066%	$290.0M	$268.0M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0197%	1h	1.5170	+0.053%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5154	−0.053%	$23.8M	$77.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5147	−0.097%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5155	−0.046%	$519K	$788K	10x	as long as short
Aftermath Perps XRPUSD	+0.0554%	1h	1.5172	+0.065%	$2K	$16K	10x	as long as short