Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter RH against BingX−0.078%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$150.152% of the position

Long on BingX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter RH: Points live · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.078% cheaper against BingX than usual: you would sell low and buy high, −$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XRP-USDT	1.5301	0.0100	pay 0.0100% / 8h	7h 21m	—	$108.4M	—
Short	Lighter RH XRP	1.5289	0.0096	get 0.0012% / 1h	21m 29s	$621K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against BingX. 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 BingXbpFee Lighter RHbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$0.84
Price spread: −0.078% → 0.000%: −$7.84
Slippage, 4 orders: −$5.24
Fee BingX: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$23.92
Costs to cover: 0.152%
Break-even: never at this rate

Slippage from BingX: live order book, 3 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 BingX live order book, 3 min ago	0.66 bp	5.7 bp −$6	5.7 bp −$57	7.5 bp −$749	15.8 bp −$7,878
Sell Lighter RH live order book, 2 min ago	1.96 bp	2.0 bp −$2	5.5 bp −$55	41.4 bp −$4,142	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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5287	−0.090%	$14.8M	$74.1M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5286	−0.098%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	−0.725%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5287	−0.091%	$248K	—	150x	as long as short
dYdX XRP-USD	+0.0008%	1h	1.5286	−0.100%	$1.1M	$160K	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.693%	$2K	$107K	30x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5297	−0.026%	$7.8M	$23.1M	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5285	−0.105%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5283	−0.119%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5286	−0.095%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRPshort	+0.0096%	1h	1.5289	−0.078%	$621K	$3.1M	20x
Katana Perps XRP-USD	+0.0100%	8h	1.5284	−0.111%	$20K	$380K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5286	−0.097%	$1.0M	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5302	+0.004%	$38.7M	$84.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5287	−0.091%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5302	+0.009%	$533.4M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5302	+0.007%	$357.5M	$932.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5310	+0.059%	$127.0M	$846.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5193	−0.706%	$561K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5295	−0.039%	$144K	$703K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−1.042%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5303	+0.013%	$375.1M	$155.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5298	−0.020%	$316.1M	$923.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5293	−0.051%	$107.6M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5292	−0.059%	$270.2M	$372.5M	125x	as long as short
BingX XRP-USDTlong	+0.0100%	8h	1.5301	long leg	—	$108.4M	—
Variational Omni XRP	+0.0100%	8h	1.5155	−0.957%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5245	−0.364%	$662K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5273	−0.181%	$1.1M	$32.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−0.340%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5296	−0.033%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5292	−0.059%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5304	+0.021%	$41K	$67K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5311	+0.065%	$78K	$647K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.990%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5294	−0.048%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5291	−0.065%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5288	−0.088%	$49.9M	$14.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5289	−0.078%	$54.3M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5289	−0.075%	$477K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5282	−0.127%	$2.1M	$6.6M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5313	+0.078%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0122% / S −0.0091%	1h	1.5268	−0.215%	$781K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5293	−0.052%	$5.4M	$47.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5287	−0.091%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRP	+0.0179%	1h	1.5304	+0.020%	$292.8M	$263.9M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5303	+0.013%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5268	−0.216%	$23.9M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5292	−0.056%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5278	−0.151%	$523K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0533%	1h	1.5220	−0.531%	$3K	$16K	10x	as long as short