Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: SunX against Lighter RH+0.087%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on Lighter RH Short on SunX

What this pair did over the last

the charts below follow

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

Price spread, last 3 days (all we have)−0.356%−$36 · spread now +0.087%, 7d avg +0.010%

Together, before fees−0.241%+ Points / potential airdropLighter RH: Points live · farm board−$24 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: SunX is 0.077% dearer against Lighter RH than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5474	0.0096	pay 0.0012% / 1h	1m 18s	$447K	$3.1M	20x
Short	SunX XRP-USDT	1.5487	0.0100	get 0.0100% / 8h	2h 01m	$130K	$1.7M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.087%Rate

Funding earned: $0.84
Price spread: +0.087% → +0.010%: $7.7
Slippage, 4 orders: −$44.66
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$44.11
Costs to cover: 0.527%
Break-even: 374.6 days

Slippage from Lighter RH: live order book, 2 min ago; SunX: live order book, 4 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	1.29 bp	3.1 bp −$3	5.4 bp −$54	32.3 bp −$3,228	doesn't fit
Sell SunX live order book, 4 min ago	17.59 bp	26.7 bp −$27	33.5 bp −$335	doesn't fit	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	1.5457	−0.110%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5454	−0.132%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	−0.284%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5472	−0.013%	$9.4M	$24.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5471	−0.017%	$259K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.189%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0049%	8h	1.5471	−0.019%	$81K	$935K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0077% / S +0.0160%	1h	1.5478	+0.025%	$911K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5472	−0.012%	$3.0M	$11.6M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5474	long leg	$447K	$3.1M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5458	−0.100%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5478	+0.028%	$39.4M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5462	−0.080%	$675K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5471	−0.019%	$556.5M	$1.88B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5465	−0.058%	$348.1M	$854.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5464	−0.065%	$126.1M	$852.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5393	−0.523%	$575K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5461	−0.084%	$121K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5455	−0.126%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5486	+0.078%	$369.0M	$134.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5461	−0.084%	$284.6M	$827.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5468	−0.036%	$112.7M	$149.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5461	−0.084%	$268.0M	$347.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5463	−0.071%	—	$114.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5410	−0.415%	$6.6M	$24.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5414	−0.390%	$670K	$96.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5398	−0.491%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5386	−0.569%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5454	−0.130%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5470	−0.026%	$51K	$437K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5486	+0.075%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5468	−0.040%	$833K	$70K	10x	as long as short
SunX XRP-USDTshort	+0.0100%	8h	1.5487	+0.087%	$130K	$1.7M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5470	−0.026%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5467	−0.048%	$50.9M	$15.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5470	−0.026%	$55.2M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5458	−0.101%	$482K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5459	−0.097%	$11K	$242K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5467	−0.046%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5468	−0.037%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5462	−0.078%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0168%	1h	1.5469	−0.031%	$15.8M	$65.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5475	+0.006%	$5.7M	$45.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5480	+0.039%	$1.4M	$9K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0212%	1h	1.5478	+0.026%	$1.8M	$956K	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5467	−0.045%	$24.3M	$69.4M	125x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5463	−0.071%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5457	−0.108%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5463	−0.069%	$406K	$523K	10x	as long as short
Hyperliquid XRP	+0.0521%	1h	1.5472	−0.013%	$285.8M	$191.1M	20x	as long as short
Aftermath Perps XRPUSD	+0.0575%	1h	1.5435	−0.249%	$1K	$11K	10x	as long as short