XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0424%/8h= +46.5% APRnext payment +$0.53 per $10,000 · paid last 24h −0.016%

Price spread now: Phoenix against Lighter RH−0.111%75s7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$740.735% of the position

Long on Lighter RH Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.128%−$13 on $10k

Price spread, last 3 days (all we have)+0.319%+$32 · spread now −0.111%, 7d avg −0.002%

Together, before fees+0.191%+ Points / potential airdropLighter RH: Points live · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Phoenix is 0.109% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.111% now, against its 7-day average of −0.002%). If the spread goes back, that is −$11 on $10k: about 21 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.128%, so the current rate has only just turned in your favour. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.128% in total (about -6.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.53 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5367	0.0096	pay 0.0012% / 1h	24m 10s	$516K	$3.2M	20x
Short	Phoenix XRP	1.5350	0.0520	get 0.0065% / 1h	24m 10s	$68K	$110K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.111%Rate

Funding earned: $89.14
Price spread: −0.111% → −0.002%: −$10.88
Slippage, 4 orders: −$66.51
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: $4.75
Costs to cover: 0.735%
Break-even: 6.6 days

Slippage from Lighter RH: live order book, 4 min ago; Phoenix: live order book, 29 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, 4 min ago	0.65 bp	2.0 bp −$2	5.3 bp −$53	39.9 bp −$3,986	doesn't fit
Sell Phoenix live order book, 29 min ago	6.49 bp	35.5 bp −$35	86.6 bp −$866	doesn't fit	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5368	+0.007%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	−0.010%	$1.1M	$112K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5366	−0.007%	$9.3M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5366	−0.008%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0015% / S +0.0078%	1h	1.5366	−0.009%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.256%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5367	0.000%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5356	−0.072%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5362	−0.030%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5367	long leg	$516K	$3.2M	20x

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	1.5360	−0.046%	$10K	$279K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	+0.024%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5368	+0.010%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5365	−0.010%	$38.8M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5368	+0.007%	$622K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5361	−0.042%	$542.3M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5360	−0.046%	$342.7M	$919.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5359	−0.052%	$125.0M	$868.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5316	−0.332%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5365	−0.013%	$118K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5334	−0.212%	$1.7M	$381K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5369	+0.013%	$375.6M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5360	−0.046%	$313.9M	$905.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5367	−0.001%	$109.0M	$165.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5359	−0.052%	$268.8M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5363	−0.026%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5352	−0.098%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5338	−0.187%	$666K	$107.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5334	−0.213%	$1.1M	$38.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5350	−0.111%	$1.2M	$996K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	0.000%	$49K	$442K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5366	−0.005%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5371	+0.024%	$827K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5368	+0.006%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5362	−0.033%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5371	+0.029%	$50.4M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5361	−0.039%	$54.6M	$29.6M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	−0.034%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5359	−0.052%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5364	−0.022%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	−0.044%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5369	+0.013%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5369	+0.013%	$5.8M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5362	−0.035%	$14.5M	$70.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0299%	1h	1.5369	+0.013%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0311%	8h	1.5373	+0.039%	$2.0M	$34.7M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5367	0.000%	$17K	$81K	7x	as long as short
Hyperliquid XRP	+0.0388%	1h	1.5375	+0.052%	$290.2M	$214.4M	20x	as long as short
Phoenix XRPshort	+0.0520%	1h	1.5350	−0.111%	$68K	$110K	15x
Aftermath Perps XRPUSD	+0.0796%	1h	1.5348	−0.123%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5366	−0.007%	$544K	$772K	10x	as long as short