Funding you earn now, next payment 01:00 UTC−0.0096%/8h= −10.5% APRnext payment −$0.12 per $10,000 · paid last 24h −0.009%
Price spread now: Phoenix against Lighter RH−0.119%75s7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$88as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$760.755% of the position
Funding, last 7 days−0.121%−$12 on $10k
+Price spread, last 4 days (all we have)+1.511%+$151 · spread now −0.119%, 7d avg −0.001%
=Together, before fees+1.389%+ Points / potential airdropLighter RH: Points live · farm board+$139 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Phoenix is 0.118% cheaper against Lighter RH than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.001%). Swap the legs. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter RH XRP | 1.5158 | 0.0096 | pay 0.0012% / 1h | 3m 51s | $510K | $3.3M | 20x |
| Short | Phoenix XRP | 1.5140 | 0 | get 0.0000% / 1h | 3m 51s | $67K | $110K | 15x |
Lighter RH XRP
Phoenix XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$20.16
- Price spread: −0.119% → −0.001%
- −$11.77
- Slippage, 4 orders
- −$68.54
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$107.47
- Costs to cover
- 0.755%
- Break-even
- never at this rate
Slippage from Lighter RH: live order book, 4 min ago; Phoenix: live order book, 44 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 | 2.2 bp −$2 | 6.9 bp −$69 | 42.2 bp −$4,224 | doesn't fit |
| Sell Phoenix live order book, 44 min ago | 6.57 bp | 35.9 bp −$36 | 83.5 bp −$835 | doesn't fit | doesn't fit |
XRP on 50 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 | 1.5154 | −0.026% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5164 | +0.040% | $1.1M | $110K | 10x | as long as short |
| Phoenix XRPshort | 0.0000% | 1h | 1.5140 | −0.119% | $67K | $110K | 15x | |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5158 | 0.000% | $254K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0024% / S +0.0053% | 1h | 1.5157 | −0.006% | $801K | — | 200x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.652% | $2K | $107K | 30x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0040% | 1h | 1.5155 | −0.020% | $14.5M | $72.7M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0074% | 8h | 1.5159 | +0.007% | $62K | $935K | 50x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0080% | 1h | 1.5157 | −0.007% | $7.6M | $25.0M | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5158 | +0.003% | $2.8M | $14.4M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Injective XRP/USDC PERP
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Deribit XRP_USDC-PERPETUAL
Lighter XRPShow all 50 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRPlong | +0.0096% | 1h | 1.5158 | long leg | $510K | $3.3M | 20x | |
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5157 | −0.007% | $10K | $299K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5170 | +0.082% | $973K | $6.0M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5162 | +0.025% | $38.5M | $83.5M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5169 | +0.074% | $609K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5161 | +0.019% | $537.3M | $2.10B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5159 | +0.007% | $342.0M | $927.8M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5159 | +0.007% | $124.8M | $866.7M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5128 | −0.198% | $563K | $28K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5170 | +0.079% | $115K | $693K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5144 | −0.092% | $1.6M | $214K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5159 | +0.007% | $368.7M | $153.7M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5160 | +0.013% | $294.8M | $919.4M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5158 | +0.002% | $106.8M | $171.4M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5159 | +0.007% | $267.4M | $381.1M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5158 | 0.000% | — | $4.2M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5141 | −0.113% | $6.3M | $35.7M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5131 | −0.177% | $657K | $109.4M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5120 | −0.251% | $1.1M | $36.8M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5137 | −0.139% | $1.2M | $1.0M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5162 | +0.026% | — | $11K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5165 | +0.046% | $44K | $445K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5159 | +0.007% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5162 | +0.028% | $816K | $75K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5168 | +0.063% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5157 | −0.007% | $29K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5159 | +0.009% | $49.7M | $15.3M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5157 | −0.007% | $53.9M | $29.9M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5168 | +0.063% | $473K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5158 | 0.000% | $2.0M | $6.9M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5155 | −0.016% | $58K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0136% | 1h | 1.5168 | +0.066% | $8K | $8K | 10x | as long as short |
| Hyperliquid XRP | +0.0162% | 1h | 1.5168 | +0.066% | $280.4M | $219.3M | 20x | as long as short |
| Reya XRPRUSDPERP | +0.0214% | 1h | 1.5161 | +0.020% | $1.3M | $7K | 15x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0216% | 1h | 1.5164 | +0.040% | $5.7M | $46.6M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0328% | 1h | 1.5146 | −0.082% | $17K | $82K | 7x | as long as short |
| Backpack XRP_USDC_PERP | +0.0333% | 1h | 1.5166 | +0.053% | $1.9M | $1.3M | 25x | as long as short |
| Kalshi KXXRPPERP | +0.0359% | 8h | 1.5168 | +0.066% | $2.1M | $35.2M | 2.9x | as long as short |
| RISEx XRP/USDC | +0.0456% | 1h | 1.5170 | +0.077% | $530K | $786K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0745% | 1h | 1.5145 | −0.083% | $2K | $14K | 10x | as long as short |
Katana Perps XRP-USD
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Hyperliquid XRP
Reya XRPRUSDPERP
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
Backpack XRP_USDC_PERP
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD