Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Aster+0.040%7-day average −0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$150.149% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 7 days−0.038%−$4 · spread now +0.040%, 7d avg −0.004%

Together, before fees−0.051%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$5 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 0.045% dearer against Aster than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XRPUSDT	1.5106	0.0100	pay 0.0100% / 8h	2h 49m	$38.7M	$86.5M	100x
Short	Lighter XRP	1.5112	0.0096	get 0.0012% / 1h	49m 17s	$2.8M	$14.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$0.84
Price spread: +0.040% → −0.004%: $4.49
Slippage, 4 orders: −$6.93
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.28
Costs to cover: 0.149%
Break-even: never at this rate

Slippage from Aster: live order book, 5 min ago; Lighter: live order book, 4 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 Aster live order book, 5 min ago	0.66 bp	4.7 bp −$5	5.4 bp −$54	12.9 bp −$1,293	doesn't fit
Sell Lighter live order book, 4 min ago	1.98 bp	2.1 bp −$2	4.9 bp −$49	17.9 bp −$1,794	39.7 bp −$19.8K

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	1.5108	+0.013%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5101	−0.033%	$14.3M	$75.1M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5114	+0.053%	$1.1M	$115K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5120	+0.093%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5109	+0.020%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5107	+0.009%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.005%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5111	+0.033%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0069% / S −0.0013%	1h	1.5107	+0.003%	$792K	—	200x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5112	+0.040%	$2.8M	$14.8M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5115	+0.060%	$497K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5103	−0.020%	$10K	$356K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5109	+0.017%	$938K	$6.2M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5119	+0.086%	$290.7M	$258.0M	20x	as long as short
Aster XRPUSDTlong	+0.0100%	8h	1.5106	long leg	$38.7M	$86.5M	100x
Pacifica XRP	+0.0100%	1h	1.5113	+0.046%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5105	−0.005%	$531.4M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5106	0.000%	$342.1M	$950.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5109	+0.020%	$125.2M	$888.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5107	+0.007%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5114	+0.053%	$137K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	+0.052%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5108	+0.013%	$372.1M	$155.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5107	+0.007%	$295.7M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5109	+0.017%	$107.7M	$179.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5106	0.000%	$268.2M	$392.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5109	+0.020%	—	$105.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5128	+0.145%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5106	−0.001%	$656K	$111.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5131	+0.165%	$1.1M	$37.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5124	+0.119%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5111	+0.031%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5111	+0.033%	$50K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5105	−0.007%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5106	0.000%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5105	−0.008%	$813K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5115	+0.063%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5101	−0.033%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5115	+0.057%	$49.4M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5107	+0.007%	$53.8M	$31.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5112	+0.039%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5100	−0.037%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5104	−0.013%	$58K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0152%	8h	1.5136	+0.199%	$1.8M	$35.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5115	+0.060%	$5.7M	$48.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0202%	1h	1.5115	+0.060%	$2.0M	$1.4M	25x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5105	−0.005%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5130	+0.159%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5124	+0.118%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5113	+0.046%	$515K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0625%	1h	1.5120	+0.092%	$2K	$15K	10x	as long as short