XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h +0.016%

Price spread now: Lighter against Phoenix−0.607%74s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 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 pays, the price is against you. Lighter is 0.607% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.607% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$61 on $10k: about 21 days of funding at the current rate (+$3 a day). The two prices were read 74 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XRP	1.5620	0	get 0.0000% / 1h	41m 51s	$70K	$90K	15x
Short	Lighter XRP	1.5525	0.0096	get 0.0012% / 1h	41m 51s	$3.0M	$12.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now −0.607%Rate

Funding earned: $20.16
Price spread: −0.607% → 0.000%: −$60.65
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$47.49
Costs to cover: 0.070%
Break-even: 23.5 days

Slippage unknown: Phoenix: no order-book sample; Lighter: live order book, 7 min ago. Net counts fees only.

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 Phoenix no order-book sample	—	—	—	—	—
Sell Lighter live order book, 7 min ago	1.05 bp	2.3 bp −$2	5.5 bp −$55	15.3 bp −$1,531	36.0 bp −$18.0K

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5533	−0.557%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5541	−0.503%	$1.1M	$113K	10x	as long as short
Phoenix XRPlong	0.0000%	1h	1.5620	long leg	$70K	$90K	15x
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5523	−0.621%	$9.6M	$25.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5523	−0.619%	$260K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0104%	1h	1.5522	−0.625%	$854K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5526	−0.599%	$15.5M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0057%	8h	1.5524	−0.615%	$76K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.384%	$2K	$107K	30x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5525	−0.607%	$3.0M	$12.6M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5530	−0.576%	$442K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5537	−0.528%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5531	−0.570%	$39.5M	$80.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5536	−0.540%	$639K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5538	−0.527%	$556.5M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5537	−0.531%	$347.0M	$917.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5539	−0.519%	$126.9M	$888.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5546	−0.474%	$579K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5536	−0.538%	$117K	$754K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.084%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5534	−0.551%	$374.0M	$144.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5536	−0.538%	$298.2M	$870.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5535	−0.542%	$113.1M	$163.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5537	−0.531%	$271.6M	$370.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5537	−0.531%	—	$120.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5624	+0.023%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5600	−0.126%	$677K	$103.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5583	−0.239%	$1.1M	$40.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5597	−0.147%	$1.0M	$899K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5537	−0.533%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5532	−0.563%	$48K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5526	−0.602%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5524	−0.612%	$836K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5529	−0.585%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5523	−0.621%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5533	−0.558%	$51.0M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5527	−0.595%	$55.2M	$29.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5531	−0.571%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5540	−0.512%	$13K	$267K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5532	−0.565%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5522	−0.627%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5538	−0.525%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5526	−0.604%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5553	−0.429%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5532	−0.563%	$5.9M	$47.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5587	−0.212%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5543	−0.493%	$2.0M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0345%	1h	1.5538	−0.525%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0619%	1h	1.5551	−0.442%	$296.0M	$209.3M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5544	−0.485%	$507K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0810%	1h	1.5587	−0.211%	$1K	$11K	10x	as long as short