Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against SunX−0.021%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 3 days (all we have)+0.090%+$9 · spread now −0.021%, 7d avg −0.007%

Together, before fees−0.024%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XRP-USDT	1.5365	0.0100	pay 0.0100% / 8h	7h 59m	$129K	$1.8M	30x
Short	Lighter XRP	1.5362	0.0096	get 0.0012% / 1h	59m 10s	$2.9M	$13.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$0.84
Price spread: −0.021% → −0.007%: −$1.38
Slippage, 4 orders: −$40.2
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$50.42
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Lighter: live order book, 9 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 SunX live order book, 6 min ago	11.71 bp	29.5 bp −$30	34.3 bp −$343	doesn't fit	doesn't fit
Sell Lighter live order book, 9 min ago	0.02 bp	0.3 bp $0	5.2 bp −$52	16.4 bp −$1,639	39.7 bp −$19.9K

XRP on 50 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	1.5368	+0.021%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5363	−0.014%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	−0.096%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5354	−0.068%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0008% / S +0.0089%	1h	1.5354	−0.072%	$842K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5363	−0.012%	$9.3M	$25.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.270%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5362	−0.018%	$75K	$910K	50x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5362	−0.021%	$2.9M	$13.6M	20x
Lighter RH XRP	+0.0096%	1h	1.5364	−0.005%	$513K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XRPUSDT	+0.0100%	8h	1.5357	−0.049%	$38.9M	$82.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5353	−0.076%	$634K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5349	−0.100%	$541.7M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5342	−0.148%	$339.7M	$933.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5341	−0.155%	$125.6M	$885.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	−0.292%	$571K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5355	−0.064%	$117K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5333	−0.207%	$1.7M	$570K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5340	−0.161%	$372.3M	$146.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5342	−0.148%	$301.2M	$887.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5360	−0.033%	$109.7M	$167.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5341	−0.155%	$268.5M	$378.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5350	−0.096%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5346	−0.120%	$6.4M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5347	−0.119%	$666K	$106.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5369	+0.027%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5352	−0.083%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5360	−0.033%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5364	−0.005%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5357	−0.048%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5364	−0.008%	$827K	$82K	10x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5365	long leg	$129K	$1.8M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5359	−0.038%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5356	−0.055%	$50.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5350	−0.096%	$54.7M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5361	−0.027%	$479K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5358	−0.047%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5362	−0.021%	$72K	$2K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	−0.034%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5351	−0.090%	$24.0M	$75.0M	125x	as long as short
01 Exchange XRPUSD	+0.0224%	1h	1.5360	−0.031%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5366	+0.008%	$5.8M	$47.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0230%	1h	1.5350	−0.096%	$1.7M	$1.2M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5362	−0.018%	$14.9M	$70.3M	50x	as long as short
Nado XRP-PERP	+0.0287%	1h	1.5360	−0.028%	$1.0M	$5.6M	20x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5367	+0.013%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5367	+0.014%	$2.2M	$35.2M	2.9x	as long as short
Hyperliquid XRP	+0.0382%	1h	1.5359	−0.038%	$290.9M	$216.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0773%	1h	1.5350	−0.094%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5360	−0.029%	$512K	$753K	10x	as long as short