Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against MEXC−0.067%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

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

costs, in and out, $10k−$50.050% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 7 days+0.046%+$5 · spread now −0.067%, 7d avg −0.001%

Together, before fees+0.038%+ Points / potential airdropLighter: Season 3 · farm board+$4 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 0.066% cheaper against MEXC than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XRP_USDT	1.5368	0.0100	pay 0.0100% / 8h	6h 18m	$315.2M	$916.3M	300x
Short	Lighter XRP	1.5358	0.0096	get 0.0012% / 1h	18m 23s	$2.8M	$14.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.067%Rate

Funding earned: −$0.84
Price spread: −0.067% → −0.001%: −$6.62
Slippage, 4 orders: −$5.03
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.5
Costs to cover: 0.050%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Lighter: live order book, 8 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 MEXC live order book, 4 min ago	0.32 bp	0.3 bp $0	0.3 bp −$3	3.1 bp −$310	25.1 bp −$12.6K
Sell Lighter live order book, 8 min ago	1.04 bp	2.2 bp −$2	6.3 bp −$63	16.6 bp −$1,661	34.2 bp −$17.1K

XRP on 50 exchanges

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	1.5360	−0.052%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5368	+0.003%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5363	−0.033%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5360	−0.054%	$249K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5360	−0.054%	$14.1M	$72.8M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.249%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5372	+0.026%	$9K	$2K	10x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5358	−0.067%	$2.8M	$14.5M	20x
Lighter RH XRP	+0.0096%	1h	1.5361	−0.046%	$605K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5361	−0.046%	$479K	$51K	50x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5369	+0.007%	$10K	$397K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5365	−0.016%	$1.0M	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5368	0.000%	$39.5M	$82.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5362	−0.041%	$589K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5366	−0.013%	$536.2M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5370	+0.013%	$362.9M	$902.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5368	0.000%	$124.4M	$846.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5390	+0.143%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5375	+0.046%	$165K	$692K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5429	+0.396%	$1.6M	$8K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5367	−0.007%	$379.7M	$160.8M	100x	as long as short
MEXC XRP_USDTlong	+0.0100%	8h	1.5368	long leg	$315.2M	$916.3M	300x
KuCoin XRPUSDTM	+0.0100%	8h	1.5369	+0.003%	$106.8M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5368	0.000%	$272.5M	$360.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5360	−0.052%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5373	+0.035%	$5.1M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5383	+0.096%	$668K	$110.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5374	+0.039%	$1.1M	$31.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5391	+0.150%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5370	+0.011%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5369	+0.007%	$53K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5366	−0.015%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5359	−0.059%	$68K	$600K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5363	−0.034%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5356	−0.078%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5357	−0.070%	$50.1M	$14.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5360	−0.052%	$54.8M	$33.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5361	−0.045%	$2.1M	$5.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0104%	1h	1.5361	−0.044%	$17K	$77K	7x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5355	−0.087%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5366	−0.013%	$5.5M	$45.6M	50x	as long as short
Hyperliquid XRP	+0.0130%	1h	1.5383	+0.098%	$298.7M	$268.4M	20x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0154% / S −0.0125%	1h	1.5361	−0.048%	$800K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0154%	8h	1.5368	0.000%	$1.9M	$34.2M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0201%	1h	1.5368	0.000%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5353	−0.098%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5364	−0.023%	$1.4M	$2K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5373	+0.032%	$515K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0463%	1h	1.5374	+0.040%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5400	+0.208%	$69K	$109K	15x	as long as short