Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Lighter−0.121%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Lighter Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$7 on $10k

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.121% cheaper against Lighter than usual: you would sell low and buy high, −$12 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	Lighter XRP	1.5259	0.0096	pay 0.0012% / 1h	2m 16s	$2.8M	$14.1M	20x
Short	BingX XRP-USDC	1.5241	0.0100	get 0.0100% / 8h	7h 02m	—	$3.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.121%Rate

Funding earned: $0.84
Price spread: −0.121% → 0.000%: −$12.11
Slippage, 4 orders: −$11.28
Fee Lighter: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.55
Costs to cover: 0.213%
Break-even: 278.3 days

Slippage from Lighter: live order book, 6 min ago; BingX: 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 Lighter live order book, 6 min ago	1.42 bp	1.7 bp −$2	5.6 bp −$56	13.9 bp −$1,389	35.8 bp −$17.9K
Sell BingX live order book, 2 min ago	0.65 bp	8.8 bp −$9	13.2 bp −$132	25.5 bp −$2,550	81.7 bp −$40.9K

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
Hotstuff XRP-PERP	−0.0080%	1h	1.5241	−0.121%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5241	−0.124%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5246	−0.086%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5249	−0.069%	$9.2M	$24.5M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0071%	1h	1.5246	−0.087%	$835K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.969%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5254	−0.036%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5243	−0.108%	$8K	$8K	10x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5259	long leg	$2.8M	$14.1M	20x
Lighter RH XRP	+0.0096%	1h	1.5265	+0.036%	$511K	$3.3M	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	+0.0100%	8h	1.5245	−0.095%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5237	−0.147%	$475K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5253	−0.043%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5234	−0.167%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5250	−0.060%	$627K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5250	−0.059%	$538.8M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5249	−0.069%	$340.4M	$920.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5255	−0.029%	$123.0M	$865.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.291%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5235	−0.160%	$114K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.591%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5247	−0.082%	$366.8M	$153.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5248	−0.075%	$300.7M	$918.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5249	−0.071%	$110.4M	$167.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5253	−0.042%	$267.6M	$376.2M	125x	as long as short
BingX XRP-USDCshort	+0.0100%	8h	1.5241	−0.121%	—	$3.7M	—
Variational Omni XRP	+0.0100%	8h	1.5315	+0.362%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5348	+0.581%	$666K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.448%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5318	+0.383%	$1.2M	$998K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5247	−0.080%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5249	−0.069%	$45K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5250	−0.060%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5257	−0.014%	$821K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5256	−0.020%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	−0.108%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5240	−0.128%	$50.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5251	−0.056%	$54.1M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5249	−0.069%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5253	−0.041%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5242	−0.113%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−0.180%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5248	−0.075%	$5.7M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0245%	1h	1.5242	−0.113%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5263	+0.023%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5315	+0.367%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0323%	8h	1.5263	+0.023%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0362%	1h	1.5256	−0.023%	$287.3M	$215.8M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	+0.462%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5239	−0.133%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0851%	1h	1.5311	+0.338%	$2K	$13K	10x	as long as short