Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Binance against Lighter+0.072%7-day average 0.000% · 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−$9as in the Price arb table

costs, in and out, $10k−$160.162% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days−0.111%−$11 · spread now +0.072%, 7d avg 0.000%

Together, before fees−0.108%+ Points / potential airdropLighter: Season 3 · farm board−$11 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: Binance is 0.072% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of 0.000%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5186	0.0096	pay 0.0012% / 1h	31m 23s	$2.9M	$10.8M	20x
Short	Binance XRPUSDT	1.5197	0.0100	get 0.0100% / 8h	3h 31m	$539.7M	$1.78B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.072%Rate

Funding earned: $0.84
Price spread: +0.072% → 0.000%: $7.22
Slippage, 4 orders: −$6.16
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$8.11
Costs to cover: 0.162%
Break-even: 74.5 days

Slippage from Lighter: live order book, 8 min ago; Binance: live order book, 3 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, 8 min ago	1.08 bp	3.4 bp −$3	6.2 bp −$62	16.1 bp −$1,611	39.7 bp −$19.8K
Sell Binance live order book, 3 min ago	0.33 bp	6.3 bp −$6	8.0 bp −$80	13.9 bp −$1,391	29.9 bp −$14.9K

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
GMX XRP/USD [ETH-USDC]	L −0.0207% / S +0.0293%	1h	1.5196	+0.067%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5183	−0.020%	$7K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0013%	1h	1.5195	+0.058%	$15.9M	$59.2M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	+0.011%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.105%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5199	+0.086%	$9.0M	$22.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5199	+0.087%	$257K	—	150x	as long as short
Orderly PERP_XRP_USDC	+0.0045%	8h	1.5191	+0.033%	$180K	$781K	50x	as long as short
Injective XRP/USDC PERP	+0.0050%	1h	1.5090	−0.632%	$2K	$51K	30x	as long as short
Vest XRP-PERP	+0.0072%	1h	1.5191	+0.031%	—	$9K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRPlong	+0.0096%	1h	1.5186	long leg	$2.9M	$10.8M	20x
Lighter RH XRP	+0.0096%	1h	1.5191	+0.033%	$567K	$2.4M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5194	+0.053%	$12K	$241K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5185	−0.003%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5189	+0.021%	$38.6M	$69.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5188	+0.013%	$671K	$1.0M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5197	+0.072%	$539.7M	$1.78B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5199	+0.086%	$343.7M	$798.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5197	+0.072%	$124.3M	$808.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	−0.026%	$565K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5191	+0.033%	$113K	$623K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5194	+0.053%	$354.7M	$127.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5198	+0.079%	$312.2M	$772.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5195	+0.062%	$110.5M	$140.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5198	+0.079%	$263.8M	$327.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5197	+0.072%	—	$3.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5188	+0.011%	$7.4M	$22.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.057%	$659K	$91.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5199	+0.086%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5184	−0.013%	$1.0M	$758K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5196	+0.066%	$50K	$460K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5195	+0.059%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5195	+0.062%	$818K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5190	+0.029%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5198	+0.079%	$28K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	−0.053%	$50.0M	$13.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5189	+0.020%	$54.5M	$27.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5194	+0.053%	$1.6M	$202K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	+0.013%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5187	+0.006%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5196	+0.068%	$73K	$37K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5194	+0.053%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5205	+0.125%	$5.3M	$41.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0193%	1h	1.5198	+0.079%	$1.7M	$895K	25x	as long as short
Kalshi KXXRPPERP	+0.0206%	8h	1.5203	+0.112%	$1.7M	$31.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5195	+0.056%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5210	+0.158%	$23.4M	$61.7M	125x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5191	+0.031%	$19K	$43K	7x	as long as short
RISEx XRP/USDC	+0.0330%	1h	1.5195	+0.058%	$401K	$502K	10x	as long as short
Hyperliquid XRP	+0.0443%	1h	1.5214	+0.184%	$283.5M	$165.5M	20x	as long as short
Aftermath Perps XRPUSD	+0.0465%	1h	1.5184	−0.013%	$1K	$10K	10x	as long as short