Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Aster against Lighter−0.023%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on Lighter Short on Aster

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+0.029%+$3 · spread now −0.023%, 7d avg +0.004%

Together, before fees+0.042%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$4 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: Aster is 0.027% cheaper against Lighter than usual: you would sell low and buy high, −$3 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	Lighter XRP	1.5179	0.0096	pay 0.0012% / 1h	13m 00s	$2.8M	$15.2M	20x
Short	Aster XRPUSDT	1.5175	0.0100	get 0.0100% / 8h	13m 00s	$38.5M	$86.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.023%Rate

Funding earned: $0.84
Price spread: −0.023% → +0.004%: −$2.73
Slippage, 4 orders: −$5.57
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$15.46
Costs to cover: 0.136%
Break-even: 135.8 days

Slippage from Lighter: live order book, 11 min ago; Aster: live order book, 6 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 Lighter live order book, 11 min ago	1.69 bp	2.3 bp −$2	5.5 bp −$55	14.8 bp −$1,477	37.1 bp −$18.5K
Sell Aster live order book, 6 min ago	0.66 bp	4.9 bp −$5	7.0 bp −$70	18.0 bp −$1,795	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5157	−0.142%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5169	−0.063%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5178	−0.004%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5183	+0.030%	$7.7M	$24.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.513%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5177	−0.012%	$14.5M	$73.8M	50x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5179	long leg	$2.8M	$15.2M	20x
Lighter RH XRP	+0.0096%	1h	1.5181	+0.016%	$605K	$3.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5165	−0.092%	$17K	$78K	7x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5173	−0.036%	$20K	$384K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5170	−0.053%	$998K	$6.3M	20x	as long as short
Aster XRPUSDTshort	+0.0100%	8h	1.5175	−0.023%	$38.5M	$86.6M	100x
Pacifica XRP	+0.0100%	1h	1.5172	−0.046%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5177	−0.010%	$529.4M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5174	−0.030%	$349.8M	$950.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5176	−0.017%	$127.3M	$864.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5145	−0.221%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5184	+0.036%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	−0.003%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5173	−0.036%	$377.8M	$162.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5175	−0.023%	$311.6M	$928.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5178	−0.005%	$106.6M	$183.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5177	−0.010%	$268.9M	$388.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5167	−0.076%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5148	−0.200%	$4.8M	$38.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5151	−0.181%	$658K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5160	−0.120%	$1.1M	$34.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5156	−0.148%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5180	+0.008%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5181	+0.016%	$52K	$515K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5180	+0.010%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5180	+0.010%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5178	−0.003%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5185	+0.039%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5178	−0.003%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5180	+0.009%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5173	−0.036%	$54.1M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5174	−0.029%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5174	−0.031%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5184	+0.036%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5177	−0.010%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0107% / S −0.0070%	1h	1.5151	−0.179%	$773K	—	200x	as long as short
Hyperliquid XRP	+0.0141%	1h	1.5187	+0.056%	$290.0M	$268.2M	20x	as long as short
Kalshi KXXRPPERP	+0.0168%	8h	1.5180	+0.010%	$1.8M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0174%	1h	1.5184	+0.036%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5184	+0.036%	$5.6M	$48.0M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5177	−0.010%	$23.6M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5176	−0.018%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5184	+0.033%	$522K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	+0.010%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0591%	1h	1.5164	−0.094%	$2K	$16K	10x	as long as short