Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0004%/8hpaid last 24h −0.001%

Price spread now: Lighter RH against Paradex−0.041%7-day average −0.006% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$170.168% of the position

Long on Paradex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now −0.041%, 7d avg −0.006%

Together, before fees+0.015%+ Points / potential airdropParadex: Active · Lighter RH: Points live · farm board+$1 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 0.035% cheaper against Paradex than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5010	0.0100	pay 0.0100% / 8h	4h 05m	$468K	$54K	50x
Short	Lighter RH XRP	1.5004	0.0096	get 0.0012% / 1h	5m 09s	$570K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Paradex. 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 ParadexbpFee Lighter RHbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$0.84
Price spread: −0.041% → −0.006%: −$3.45
Slippage, 4 orders: −$12.84
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$21.14
Costs to cover: 0.168%
Break-even: never at this rate

Slippage from Paradex: live order book, 28 min ago; Lighter RH: live order book, 2 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 Paradex live order book, 28 min ago	4.33 bp	6.3 bp −$6	144.4 bp −$1,444	doesn't fit	doesn't fit
Sell Lighter RH live order book, 2 min ago	1.66 bp	2.1 bp −$2	7.4 bp −$74	40.2 bp −$4,020	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
GMX XRP/USD [ETH-USDC]	L −0.0208% / S +0.0294%	1h	1.5003	−0.045%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5009	−0.008%	$6K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5014	+0.028%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5006	−0.028%	$8.7M	$22.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5004	−0.042%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.4990	−0.134%	$2K	$62K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0049%	8h	1.4993	−0.114%	$178K	$779K	50x	as long as short
Vest XRP-PERP	+0.0088%	1h	1.5002	−0.052%	—	$9K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5001	−0.059%	$2.9M	$10.7M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5004	−0.041%	$570K	$2.4M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5018	+0.052%	$12K	$249K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.4995	−0.098%	$1.0M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.4997	−0.088%	$38.2M	$68.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5013	+0.018%	$663K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.4997	−0.088%	$528.0M	$1.75B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5001	−0.061%	$338.6M	$784.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.4997	−0.088%	$124.8M	$787.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.4998	−0.081%	$559K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5015	+0.032%	$111K	$613K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5015	+0.032%	$1.6M	$139K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.4996	−0.094%	$348.8M	$127.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.4999	−0.074%	$308.9M	$770.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.4999	−0.077%	$110.8M	$137.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.4997	−0.088%	$258.5M	$320.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5001	−0.061%	—	$104.3M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5029	+0.128%	$6.7M	$21.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5058	+0.319%	$654K	$89.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5028	+0.118%	$1.1M	$40.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5032	+0.146%	$995K	$687K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5007	−0.021%	$60K	$432K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5000	−0.070%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.4999	−0.077%	$808K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5012	+0.016%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.4999	−0.074%	$36K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.4991	−0.129%	$49.4M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5002	−0.054%	$53.8M	$26.9M	50x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5010	long leg	$468K	$54K	50x
Extended XRP-USD	+0.0104%	1h	1.4999	−0.077%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5016	+0.039%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.4998	−0.080%	$72K	$39K	3x	as long as short
Kalshi KXXRPPERP	+0.0159%	8h	1.5021	+0.072%	$1.8M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0170%	1h	1.5009	−0.008%	$1.7M	$916K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0208%	1h	1.5006	−0.028%	$5.1M	$39.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0209%	1h	1.4997	−0.090%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5000	−0.068%	$23.3M	$59.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5038	+0.188%	$19K	$37K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0265%	1h	1.5002	−0.054%	$15.1M	$55.9M	50x	as long as short
Hyperliquid XRP	+0.0349%	1h	1.5013	+0.018%	$273.1M	$159.6M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5017	+0.045%	$407K	$489K	10x	as long as short
Aftermath Perps XRPUSD	+0.0451%	1h	1.5032	+0.145%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5050	+0.266%	$67K	$89K	15x	as long as short