Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.010%

Price spread now: edgeX against Lighter−0.169%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$160.158% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.068%−$7 on $10k

Price spread, last 7 days+0.144%+$14 · spread now −0.169%, 7d avg −0.031%

Together, before fees+0.076%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$8 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: edgeX is 0.137% cheaper against Lighter than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5220	0.0096	pay 0.0012% / 1h	37m 30s	$2.8M	$14.5M	20x
Short	edgeX XRPUSDC	1.5194	0.0100	get 0.0050% / 4h	3h 37m	$662K	$112.6M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.169%Rate

Funding earned: $0.84
Price spread: −0.169% → −0.031%: −$13.73
Slippage, 4 orders: −$6.84
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$28.73
Costs to cover: 0.158%
Break-even: 246.4 days

Slippage from Lighter: live order book, 6 min ago; edgeX: 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	1.76 bp	2.3 bp −$2	6.0 bp −$60	18.4 bp −$1,845	41.2 bp −$20.6K
Sell edgeX live order book, 2 min ago	1.32 bp	5.8 bp −$6	5.9 bp −$59	9.8 bp −$976	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
Kraken Futures PF_XRPUSD	−0.0171%	1h	1.5215	−0.033%	$14.7M	$75.3M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5218	−0.011%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5216	−0.023%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5220	+0.002%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5211	−0.055%	$247K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5215	−0.030%	$7.7M	$23.8M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.236%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5204	−0.105%	$17K	$78K	7x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5220	long leg	$2.8M	$14.5M	20x
Lighter RH XRP	+0.0096%	1h	1.5223	+0.022%	$621K	$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
Katana Perps XRP-USD	+0.0100%	8h	1.5216	−0.024%	$20K	$380K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5215	−0.027%	$995K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5214	−0.037%	$38.6M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5221	+0.010%	$613K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5213	−0.044%	$530.3M	$2.18B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5215	−0.030%	$355.0M	$942.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5215	−0.030%	$126.9M	$854.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5173	−0.306%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5225	+0.035%	$144K	$709K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5201	−0.122%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5218	−0.011%	$375.2M	$153.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5215	−0.030%	$313.6M	$914.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5215	−0.029%	$106.2M	$183.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5218	−0.011%	$269.5M	$382.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5213	−0.044%	—	$108.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5191	−0.188%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDCshort	+0.0100%	4h	1.5194	−0.169%	$662K	$112.6M	30x
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5186	−0.218%	$1.1M	$33.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5199	−0.136%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5220	0.000%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5219	−0.004%	$52K	$511K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5216	−0.022%	$41K	$68K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5206	−0.090%	$78K	$648K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5195	−0.165%	$817K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5192	−0.180%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5211	−0.057%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5209	−0.070%	$49.7M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5211	−0.057%	$54.3M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5224	+0.029%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5213	−0.041%	$2.1M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5205	−0.095%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0117% / S −0.0082%	1h	1.5203	−0.109%	$788K	—	200x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5221	+0.009%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5212	−0.050%	$5.5M	$47.9M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5203	−0.109%	$1.7M	$33.3M	2.9x	as long as short
Hyperliquid XRP	+0.0188%	1h	1.5231	+0.075%	$291.0M	$267.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5183	−0.241%	$23.7M	$77.9M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5213	−0.042%	$1.3M	$4K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0228%	1h	1.5231	+0.075%	$2.0M	$1.4M	25x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5224	+0.030%	$522K	$798K	10x	as long as short
Aftermath Perps XRPUSD	+0.0549%	1h	1.5214	−0.040%	$3K	$16K	10x	as long as short