Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0049%/8h= +5.3% APRpaid last 24h +0.005%

Price spread now: Lighter RH against Orderly−0.006%7-day average +0.016% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 3 days (all we have)+0.286%+$29 · spread now −0.006%, 7d avg +0.016%

Together, before fees+0.285%+ Points / potential airdropLighter RH: Points live · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter RH is 0.023% cheaper against Orderly than usual: you would sell low and buy high (spread −0.006% now, against its 7-day average of +0.016%). If the spread goes back, that is −$2 on $10k: about 38 hours of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_XRP_USDC	1.5410	0.0047	pay 0.0047% / 8h	2h 07m	$80K	$933K	50x
Short	Lighter RH XRP	1.5409	0.0096	get 0.0012% / 1h	7m 09s	$446K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Orderly. 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 OrderlybpFee Lighter RHbpOrdersPrice spread, now −0.006%Rate

Funding earned: $10.2
Price spread: −0.006% → +0.016%: −$2.29
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $1.9
Costs to cover: 0.060%
Break-even: 5.7 days

Slippage unknown: Orderly: no order-book sample; Lighter RH: live order book, 1 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Lighter RH live order book, 1 min ago	2.27 bp	3.7 bp −$4	6.8 bp −$68	35.4 bp −$3,541	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5415	+0.032%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5411	+0.006%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.260%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5413	+0.019%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5408	−0.013%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.779%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDClong	+0.0047%	8h	1.5410	long leg	$80K	$933K	50x
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0167%	1h	1.5407	−0.020%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5407	−0.018%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5409	−0.006%	$446K	$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	1.5421	+0.075%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5408	−0.011%	$39.2M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5415	+0.032%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5405	−0.030%	$554.3M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5406	−0.026%	$346.7M	$852.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5403	−0.045%	$126.1M	$846.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	−0.006%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5422	+0.078%	$119K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.399%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5402	−0.052%	$368.5M	$134.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5404	−0.039%	$290.5M	$822.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5406	−0.028%	$112.1M	$149.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5404	−0.039%	$266.9M	$346.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5403	−0.045%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.500%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5443	+0.215%	$671K	$95.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5404	−0.036%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5437	+0.175%	$1.0M	$879K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5416	+0.039%	$49K	$469K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5411	+0.007%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5408	−0.012%	$830K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5415	+0.035%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5405	−0.032%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5410	−0.003%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5405	−0.032%	$55.0M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5410	+0.001%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5411	+0.008%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5414	+0.026%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5408	−0.010%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5411	+0.004%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5418	+0.052%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5404	−0.041%	$15.7M	$65.4M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5421	+0.071%	$5.6M	$44.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0199%	1h	1.5413	+0.019%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5410	−0.002%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5411	+0.006%	$24.2M	$69.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0300%	8h	1.5423	+0.084%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5417	+0.049%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5421	+0.074%	$405K	$499K	10x	as long as short
Hyperliquid XRP	+0.0510%	1h	1.5422	+0.075%	$284.0M	$190.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0563%	1h	1.5432	+0.145%	$1K	$11K	10x	as long as short