XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0079%/8h= −8.7% APRnext payment −$0.10 per $10,000 · paid last 24h −0.091%

Price spread now: Lighter against Hyperliquid−0.085%7-day average −0.046% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$130.129% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

Price spread, last 7 days+0.021%+$2 · spread now −0.085%, 7d avg −0.046%

Together, before fees−0.190%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.040% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5181	0.0175	pay 0.0022% / 1h	26m 44s	$290.2M	$268.0M	20x
Short	Lighter XRP	1.5168	0.0096	get 0.0012% / 1h	26m 44s	$2.8M	$14.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Hyperliquid. 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 HyperliquidbpFee LighterbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$16.65
Price spread: −0.085% → −0.046%: −$3.99
Slippage, 4 orders: −$3.93
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$33.57
Costs to cover: 0.129%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Lighter: live order book, 7 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 Hyperliquid live order book, 7 min ago	0.33 bp	4.8 bp −$5	5.8 bp −$58	10.5 bp −$1,054	doesn't fit
Sell Lighter live order book, 7 min ago	1.08 bp	1.1 bp −$1	5.5 bp −$55	16.8 bp −$1,683	39.9 bp −$19.9K

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	−0.0172%	1h	1.5175	−0.038%	$14.7M	$74.4M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5185	+0.026%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.072%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5154	−0.176%	$246K	—	150x	as long as short
dYdX XRP-USD	+0.0009%	1h	1.5179	−0.014%	$1.1M	$158K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5177	−0.026%	$7.7M	$23.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.497%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5155	−0.173%	$17K	$78K	7x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5168	−0.085%	$2.8M	$14.6M	20x
Lighter RH XRP	+0.0096%	1h	1.5169	−0.079%	$616K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
01 Exchange XRPUSD	+0.0096%	1h	1.5170	−0.072%	$8K	$2K	10x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5164	−0.112%	$20K	$381K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5168	−0.082%	$991K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5172	−0.060%	$38.5M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5182	+0.007%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5172	−0.059%	$528.5M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5167	−0.092%	$353.1M	$938.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5167	−0.092%	$126.1M	$847.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5125	−0.369%	$556K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5179	−0.013%	$143K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−0.260%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5177	−0.026%	$377.5M	$154.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5173	−0.053%	$312.9M	$918.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5190	+0.057%	$106.9M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5165	−0.105%	$268.1M	$379.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5171	−0.066%	—	$108.3M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5142	−0.257%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5143	−0.251%	$658K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5143	−0.251%	$1.1M	$33.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5148	−0.217%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5177	−0.029%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5173	−0.053%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5179	−0.013%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5171	−0.066%	$77K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.207%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5176	−0.033%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5174	−0.046%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5175	−0.038%	$49.5M	$14.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5178	−0.020%	$54.1M	$32.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5183	+0.011%	$473K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5171	−0.065%	$2.1M	$6.6M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5170	−0.071%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0120% / S −0.0086%	1h	1.5174	−0.044%	$786K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5176	−0.033%	$5.3M	$47.5M	50x	as long as short
Kalshi KXXRPPERP	+0.0167%	8h	1.5183	+0.013%	$1.7M	$33.2M	2.9x	as long as short
Hyperliquid XRPlong	+0.0175%	1h	1.5181	long leg	$290.2M	$268.0M	20x
Backpack XRP_USDC_PERP	+0.0196%	1h	1.5182	+0.007%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5177	−0.026%	$23.8M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5166	−0.097%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5147	−0.223%	$518K	$788K	10x	as long as short
Aftermath Perps XRPUSD	+0.0553%	1h	1.5178	−0.022%	$2K	$16K	10x	as long as short