Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter RH against OKX+0.086%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$140.140% of the position

Long on OKX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.043%−$4 on $10k

Price spread, last 7 days−0.085%−$8 · spread now +0.086%, 7d avg −0.009%

Together, before fees−0.128%+ Points / potential airdropLighter RH: Points live · farm board−$13 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 RH is 0.095% dearer against OKX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XRP-USDT-SWAP	1.5167	0.0100	pay 0.0100% / 8h	3h 24m	$126.5M	$882.7M	100x
Short	Lighter RH XRP	1.5180	0.0096	get 0.0012% / 1h	24m 58s	$496K	$3.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against OKX. 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 OKXbpFee Lighter RHbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$0.84
Price spread: +0.086% → −0.009%: $9.51
Slippage, 4 orders: −$4.02
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$5.35
Costs to cover: 0.140%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Lighter RH: live order book, 3 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 OKX live order book, 4 min ago	0.33 bp	5.3 bp −$5	6.6 bp −$66	14.4 bp −$1,439	30.0 bp −$15.0K
Sell Lighter RH live order book, 3 min ago	0.99 bp	1.0 bp −$1	6.7 bp −$67	38.4 bp −$3,841	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	1.5184	+0.112%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	+0.137%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5180	+0.086%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5177	+0.069%	$254K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5174	+0.045%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.591%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5177	+0.064%	$792K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5179	+0.077%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5180	+0.086%	$496K	$3.3M	20x
Katana Perps XRP-USD	+0.0098%	8h	1.5187	+0.132%	$10K	$347K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5183	+0.109%	$989K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5165	−0.013%	$38.7M	$85.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5188	+0.138%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5165	−0.013%	$534.7M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5165	−0.013%	$346.2M	$943.3M	100x	as long as short
OKX XRP-USDT-SWAPlong	+0.0100%	8h	1.5167	long leg	$126.5M	$882.7M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	+0.099%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5189	+0.145%	$134K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5212	+0.297%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5166	−0.007%	$368.5M	$155.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5164	−0.020%	$296.0M	$904.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5166	−0.007%	$109.1M	$177.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5160	−0.046%	$268.9M	$389.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5166	−0.007%	—	$127.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5187	+0.130%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.143%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5219	+0.343%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.191%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5184	+0.113%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5183	+0.105%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5178	+0.073%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5178	+0.073%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5179	+0.082%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5183	+0.106%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5174	+0.046%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5186	+0.128%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5178	+0.073%	$54.0M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5185	+0.119%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5159	−0.052%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5173	+0.040%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5190	+0.152%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5184	+0.112%	$5.7M	$47.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5176	+0.059%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	+0.079%	$24.1M	$76.0M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0264%	1h	1.5182	+0.099%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5191	+0.161%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0331%	8h	1.5185	+0.119%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5187	+0.135%	$517K	$776K	10x	as long as short
Hyperliquid XRP	+0.0401%	1h	1.5191	+0.158%	$300.5M	$246.2M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.152%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0679%	1h	1.5204	+0.245%	$2K	$15K	10x	as long as short