XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRnext payment −$0.01 per $10,000 · paid last 24h −0.001%

Price spread now: Lighter against Polymarket Perps+0.090%45s7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.174% of the position

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)−0.510%−$51 · spread now +0.090%, 7d avg −0.016%

Together, before fees−0.534%+ Points / potential airdropLighter: Season 3 · farm board−$53 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 0.106% dearer against Polymarket Perps than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.016%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5176	0.0100	pay 0.0013% / 1h	53m 40s	$44K	$454K	20x
Short	Lighter XRP	1.5190	0.0096	get 0.0012% / 1h	53m 40s	$2.8M	$14.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now +0.090%Rate

Funding earned: −$0.84
Price spread: +0.090% → −0.016%: $10.61
Slippage, 4 orders: −$9.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.64
Costs to cover: 0.174%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 64 min ago; Lighter: live order book, 5 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 Polymarket Perps live order book, 64 min ago	2.31 bp	6.9 bp −$7	9.3 bp −$93	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	1.03 bp	1.5 bp −$1	5.7 bp −$57	14.0 bp −$1,400	32.9 bp −$16.4K

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	1.5176	0.000%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5186	+0.064%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−0.171%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5160	−0.104%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5159	−0.112%	$7.7M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5155	−0.140%	$14.3M	$73.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.530%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0048% / S +0.0017%	1h	1.5159	−0.111%	$791K	—	200x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5190	+0.090%	$2.8M	$14.6M	20x
Lighter RH XRP	+0.0096%	1h	1.5190	+0.092%	$499K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0096%	8h	1.5159	−0.112%	$62K	$934K	50x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5201	+0.165%	$12K	$337K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5210	+0.227%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5188	+0.079%	$38.4M	$84.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5192	+0.107%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5208	+0.211%	$534.5M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5210	+0.224%	$348.5M	$939.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5212	+0.237%	$127.9M	$885.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.013%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5202	+0.171%	$118K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	+0.033%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5178	+0.013%	$371.6M	$153.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5193	+0.112%	$292.6M	$896.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5197	+0.136%	$108.5M	$176.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5197	+0.138%	$269.2M	$387.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5195	+0.125%	—	$127.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	−0.245%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5166	−0.063%	$659K	$109.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.250%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5184	+0.053%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5171	−0.036%	—	$11K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5176	long leg	$44K	$454K	20x
Bullet XRP-USD	+0.0100%	1h	1.5162	−0.092%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5160	−0.106%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5168	−0.053%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5156	−0.132%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5161	−0.099%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5154	−0.145%	$54.0M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5192	+0.104%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5191	+0.100%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5156	−0.129%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5203	+0.178%	$9K	$8K	10x	as long as short
Hyperliquid XRP	+0.0138%	1h	1.5197	+0.138%	$281.1M	$227.6M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5163	−0.086%	$5.6M	$47.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5163	−0.084%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5192	+0.105%	$24.2M	$76.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5183	+0.049%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0262%	8h	1.5186	+0.066%	$2.0M	$35.1M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0275%	1h	1.5163	−0.086%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5203	+0.179%	$518K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0656%	1h	1.5156	−0.130%	$2K	$15K	10x	as long as short