Funding arb · Price arb /

XRP

all XRP markets

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: OKX against Lighter+0.010%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$150.146% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.042%+$4 on $10k

Price spread, last 7 days+0.010%+$1 · spread now +0.010%, 7d avg −0.003%

Together, before fees+0.053%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5185	0.0096	pay 0.0012% / 1h	9m 44s	$2.8M	$15.2M	20x
Short	OKX XRP-USDT-SWAP	1.5186	0.0100	get 0.0100% / 8h	9m 44s	$127.2M	$863.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0.84
Price spread: +0.010% → −0.003%: $1.23
Slippage, 4 orders: −$4.58
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$12.5
Costs to cover: 0.146%
Break-even: 111.2 days

Slippage from Lighter: live order book, 4 min ago; OKX: live order book, 4 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, 4 min ago	0.96 bp	1.5 bp −$1	4.3 bp −$43	14.3 bp −$1,431	35.8 bp −$17.9K
Sell OKX live order book, 4 min ago	0.33 bp	5.6 bp −$6	7.3 bp −$73	15.2 bp −$1,521	33.6 bp −$16.8K

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	1.5187	+0.016%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5185	+0.004%	$1.1M	$148K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5191	+0.041%	$247K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.473%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5193	+0.057%	$14.6M	$73.6M	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5198	+0.089%	$7.7M	$24.0M	50x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5185	long leg	$2.8M	$15.2M	20x
Lighter RH XRP	+0.0096%	1h	1.5188	+0.023%	$605K	$3.2M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5177	−0.050%	$17K	$78K	7x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5179	−0.036%	$20K	$382K	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	1.5187	+0.019%	$1.0M	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5185	+0.001%	$38.5M	$86.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5188	+0.020%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5187	+0.016%	$529.8M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5185	+0.003%	$350.1M	$949.6M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5186	+0.010%	$127.2M	$863.6M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5172	−0.083%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5191	+0.043%	$144K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5178	−0.043%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5185	+0.003%	$378.1M	$162.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5188	+0.023%	$311.1M	$929.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5186	+0.011%	$106.8M	$183.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5185	+0.003%	$268.9M	$388.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5186	+0.010%	—	$107.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5163	−0.144%	$4.8M	$38.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5151	−0.221%	$658K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5180	−0.031%	$1.1M	$34.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5182	−0.017%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5192	+0.051%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5199	+0.095%	$52K	$514K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5192	+0.051%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5195	+0.069%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5192	+0.048%	$817K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5178	−0.041%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5193	+0.056%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5191	+0.045%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5195	+0.069%	$54.2M	$32.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5193	+0.058%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5183	−0.013%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5190	+0.036%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5192	+0.049%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0108% / S −0.0072%	1h	1.5191	+0.040%	$774K	—	200x	as long as short
Hyperliquid XRP	+0.0142%	1h	1.5190	+0.036%	$290.0M	$268.1M	20x	as long as short
Kalshi KXXRPPERP	+0.0166%	8h	1.5180	−0.030%	$1.8M	$33.8M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5201	+0.108%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5201	+0.108%	$2.0M	$1.4M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5172	−0.083%	$23.6M	$77.6M	125x	as long as short
Reya XRPRUSDPERP	+0.0220%	1h	1.5196	+0.074%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0394%	1h	1.5190	+0.035%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	−0.030%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0584%	1h	1.5172	−0.080%	$2K	$16K	10x	as long as short