Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Lighter RH−0.040%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$160.155% of the position

Long on Lighter RH Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.066%+$7 on $10k

Price spread, last 7 days+0.031%+$3 · spread now −0.040%, 7d avg +0.011%

Together, before fees+0.097%+ Points / potential airdropLighter RH: Points live · farm board+$10 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: BingX is 0.051% cheaper against Lighter RH than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5161	0.0096	pay 0.0012% / 1h	16m 21s	$496K	$3.3M	20x
Short	BingX XRP-USDT	1.5155	0.0100	get 0.0100% / 8h	3h 16m	—	$127.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Lighter RH. 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 Lighter RHbpFee BingXbpOrdersPrice spread, now −0.040%Rate

Funding earned: $0.84
Price spread: −0.040% → +0.011%: −$5.09
Slippage, 4 orders: −$5.53
Fee Lighter RH: 0 bp × 2 orders: $0
Fee BingX: 5 bp × 2 orders: −$10
Net: −$19.78
Costs to cover: 0.155%
Break-even: 171.8 days

Slippage from Lighter RH: live order book, 2 min ago; BingX: live order book, 8 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 RH live order book, 2 min ago	1.32 bp	1.3 bp −$1	4.3 bp −$43	46.1 bp −$4,607	doesn't fit
Sell BingX live order book, 8 min ago	0.99 bp	6.1 bp −$6	7.3 bp −$73	9.0 bp −$904	13.7 bp −$6,856

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	1.5167	+0.040%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5150	−0.070%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5152	−0.059%	$259K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5158	−0.020%	$7.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5154	−0.044%	$14.4M	$74.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.632%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5152	−0.062%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5158	−0.021%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5161	long leg	$496K	$3.3M	20x
Katana Perps XRP-USD	+0.0098%	8h	1.5155	−0.040%	$9K	$351K	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	1.5156	−0.030%	$976K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5156	−0.033%	$38.9M	$85.7M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5158	−0.017%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5153	−0.052%	$535.1M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5153	−0.053%	$344.8M	$945.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5155	−0.040%	$125.9M	$884.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5163	+0.013%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5164	+0.020%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.023%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5154	−0.046%	$372.2M	$156.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5160	−0.007%	$296.1M	$907.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5162	+0.004%	$109.3M	$178.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5154	−0.046%	$269.0M	$390.6M	125x	as long as short
BingX XRP-USDTshort	+0.0100%	8h	1.5155	−0.040%	—	$127.7M	—
Variational Omni XRP	+0.0100%	8h	1.5187	+0.170%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5180	+0.128%	$659K	$110.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5170	+0.059%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5163	+0.013%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5157	−0.028%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5159	−0.013%	$45K	$479K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5153	−0.052%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5153	−0.053%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5153	−0.049%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5156	−0.032%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5175	+0.092%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5174	+0.083%	$49.6M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5167	+0.040%	$54.0M	$31.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5161	+0.003%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5150	−0.071%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5152	−0.059%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5163	+0.013%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5181	+0.132%	$5.7M	$48.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5151	−0.064%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5163	+0.013%	$24.2M	$75.7M	125x	as long as short
Kalshi KXXRPPERP	+0.0250%	8h	1.5182	+0.139%	$1.9M	$35.3M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0253%	1h	1.5170	+0.059%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5174	+0.086%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5162	+0.005%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0407%	1h	1.5170	+0.059%	$298.1M	$251.4M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.191%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0643%	1h	1.5171	+0.066%	$2K	$15K	10x	as long as short