XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0080%/8h= −8.8% APRnext payment −$0.10 per $10,000 · paid last 24h −0.032%

Price spread now: Lighter against Coinbase International+0.033%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now +0.033%, 7d avg −0.013%

Together, before fees−0.104%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.046% dearer against Coinbase International than usual: you sell high and buy low (spread +0.033% now, against its 7-day average of −0.013%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 46 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5146	0.0176	pay 0.0022% / 1h	53m 36s	$5.7M	$48.4M	50x
Short	Lighter XRP	1.5151	0.0096	get 0.0012% / 1h	53m 36s	$2.8M	$15.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now +0.033%Rate

Funding earned: −$16.8
Price spread: +0.033% → −0.013%: $4.58
Slippage, 4 orders: −$9.14
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$31.36
Costs to cover: 0.191%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 6 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 Coinbase International live order book, 6 min ago	0.33 bp	8.1 bp −$8	11.8 bp −$118	28.3 bp −$2,827	doesn't fit
Sell Lighter live order book, 5 min ago	0.97 bp	1.0 bp −$1	4.5 bp −$45	12.5 bp −$1,251	35.4 bp −$17.7K

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	1.5145	−0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5143	−0.022%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.026%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5137	−0.056%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5138	−0.050%	$14.4M	$75.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.733%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5145	−0.007%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0077% / S −0.0024%	1h	1.5137	−0.057%	$798K	—	200x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5151	+0.033%	$2.8M	$15.1M	20x
Lighter RH XRP	+0.0096%	1h	1.5150	+0.026%	$546K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0099%	8h	1.5141	−0.033%	$12K	$367K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5128	−0.116%	$994K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5148	+0.014%	$38.5M	$87.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5151	+0.036%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5150	+0.025%	$528.5M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5149	+0.020%	$344.4M	$967.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5151	+0.033%	$127.0M	$891.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5154	+0.053%	$564K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	+0.053%	$143K	$718K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5166	+0.132%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5149	+0.020%	$375.1M	$158.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5152	+0.040%	$300.6M	$917.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5150	+0.028%	$107.3M	$182.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5150	+0.026%	$266.6M	$399.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5147	+0.007%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5135	−0.074%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5144	−0.014%	$658K	$114.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5133	−0.086%	$1.1M	$36.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5156	+0.066%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5138	−0.054%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5136	−0.066%	$46K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5139	−0.044%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5139	−0.046%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5140	−0.041%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5142	−0.026%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5138	−0.053%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5139	−0.043%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5139	−0.046%	$54.0M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5158	+0.076%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5146	+0.003%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5137	−0.059%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0146%	1h	1.5145	−0.007%	$7.7M	$25.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0159%	1h	1.5149	+0.020%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5144	−0.013%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0176%	1h	1.5146	long leg	$5.7M	$48.4M	50x
Hyperliquid XRP	+0.0189%	1h	1.5160	+0.092%	$289.2M	$264.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0214%	8h	1.5142	−0.026%	$1.7M	$35.4M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5129	−0.110%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5142	−0.026%	$23.5M	$77.7M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5153	+0.044%	$522K	$797K	10x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5148	+0.014%	$2K	$16K	10x	as long as short