Funding you earn now, next payment 04:00 UTC−0.0432%/8h= −47.3% APRnext payment −$0.54 per $10,000 · paid last 24h +0.003%
Price spread now: Lighter RH against Phoenix+0.291%7-day average −0.002% · you sell dearer than you buy
Net, funding: paid 7d − costs−$63as in the Funding arb table
Net, price: spread back to 7d avg − costs−$45as in the Price arb table
costs, in and out, $10k−$750.748% of the position
Funding, last 7 days+0.115%+$11 on $10k
+Price spread, last 4 days (all we have)−0.620%−$62 · spread now +0.291%, 7d avg −0.002%
=Together, before fees−0.505%+ Points / potential airdropLighter RH: Points live · farm board−$51 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Lighter RH is 0.293% dearer against Phoenix than usual: you sell high and buy low (spread +0.291% now, against its 7-day average of −0.002%): +$29 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 2.3 days. Mind the row above: over the last 7 days funding on this pair paid +0.115%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.115% in total (about 6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 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 | Phoenix XRP | 1.5110 | 0.0528 | pay 0.0066% / 1h | 6m 23s | $67K | $110K | 15x |
| Short | Lighter RH XRP | 1.5154 | 0.0096 | get 0.0012% / 1h | 6m 23s | $496K | $3.3M | 20x |
Phoenix XRP
Lighter RH XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter RH against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$90.73
- Price spread: +0.291% → −0.002%
- $29.32
- Slippage, 4 orders
- −$67.79
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter RH: 0 bp × 2 orders
- $0
- Net
- −$136.2
- Costs to cover
- 0.748%
- Break-even
- never at this rate
Slippage from Phoenix: live order book, 26 min ago; Lighter RH: 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 Phoenix live order book, 26 min ago | 6.56 bp | 35.7 bp −$36 | 94.5 bp −$945 | doesn't fit | doesn't fit |
| Sell Lighter RH live order book, 2 min ago | 1.65 bp | 1.7 bp −$2 | 5.3 bp −$53 | 41.8 bp −$4,177 | 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 | 1.5133 | +0.152% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5147 | +0.247% | $1.1M | $115K | 10x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5149 | +0.255% | $259K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0014% | 1h | 1.5155 | +0.298% | $7.7M | $25.6M | 50x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0022% | 1h | 1.5152 | +0.277% | $14.3M | $74.7M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.978% | $2K | $107K | 30x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0054% / S +0.0009% | 1h | 1.5149 | +0.255% | $795K | — | 200x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5153 | +0.286% | $2.8M | $14.8M | 20x | as long as short |
| Lighter RH XRPshort | +0.0096% | 1h | 1.5154 | +0.291% | $496K | $3.3M | 20x | |
| Katana Perps XRP-USD | +0.0099% | 8h | 1.5141 | +0.205% | $10K | $355K | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
gTrade (Gains Network) XRP/USD
Deribit XRP_USDC-PERPETUAL
Kraken Futures PF_XRPUSD
Injective XRP/USDC PERP
GMX XRP/USD [ETH-USDC]
Lighter XRP
Katana Perps XRP-USDShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Nado XRP-PERP | +0.0100% | 1h | 1.5149 | +0.255% | $979K | $6.1M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5149 | +0.258% | $39.0M | $86.0M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5155 | +0.297% | $608K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5148 | +0.251% | $533.6M | $2.17B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5147 | +0.245% | $343.8M | $947.4M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5150 | +0.265% | $125.3M | $886.4M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5145 | +0.232% | $563K | $27K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5154 | +0.291% | $137K | $721K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5138 | +0.188% | $1.6M | $29K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5151 | +0.271% | $373.6M | $158.1M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5152 | +0.278% | $294.2M | $910.3M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5150 | +0.265% | $109.2M | $178.5M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5150 | +0.265% | $269.0M | $391.3M | 125x | as long as short |
| BingX XRP-USDT | +0.0100% | 8h | 1.5151 | +0.271% | — | $128.0M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5130 | +0.130% | $4.8M | $38.3M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5113 | +0.023% | $656K | $111.0M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5106 | −0.027% | $1.1M | $36.8M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5119 | +0.060% | $1.2M | $1.1M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5148 | +0.253% | — | $11K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5155 | +0.298% | $49K | $489K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5149 | +0.258% | $41K | $69K | 20x | as long as short |
| Orderly PERP_XRP_USDC | +0.0100% | 8h | 1.5148 | +0.251% | $62K | $934K | 50x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5149 | +0.259% | $815K | $72K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5154 | +0.295% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5150 | +0.265% | $28K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5142 | +0.214% | $49.5M | $15.7M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5139 | +0.192% | $53.9M | $31.5M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5151 | +0.273% | $472K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5147 | +0.245% | $2.0M | $6.8M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5148 | +0.249% | $58K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0160% | 1h | 1.5149 | +0.258% | $8K | $8K | 10x | as long as short |
| Kalshi KXXRPPERP | +0.0177% | 8h | 1.5141 | +0.205% | $1.8M | $35.3M | 2.9x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0184% | 1h | 1.5144 | +0.225% | $5.7M | $48.2M | 50x | as long as short |
| Reya XRPRUSDPERP | +0.0217% | 1h | 1.5150 | +0.264% | $1.3M | $7K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5139 | +0.192% | $24.2M | $75.8M | 125x | as long as short |
| Backpack XRP_USDC_PERP | +0.0235% | 1h | 1.5150 | +0.265% | $2.0M | $1.4M | 25x | as long as short |
| Hibachi XRP/USDT-P | +0.0280% | 1h | 1.5132 | +0.147% | $17K | $82K | 7x | as long as short |
| RISEx XRP/USDC | +0.0358% | 1h | 1.5153 | +0.285% | $517K | $777K | 10x | as long as short |
| Hyperliquid XRP | +0.0377% | 1h | 1.5161 | +0.338% | $290.8M | $255.8M | 20x | as long as short |
| Phoenix XRPlong | +0.0528% | 1h | 1.5110 | long leg | $67K | $110K | 15x | |
| Aftermath Perps XRPUSD | +0.0635% | 1h | 1.5143 | +0.218% | $2K | $15K | 10x | as long as short |
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDT
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Orderly PERP_XRP_USDC
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Kalshi KXXRPPERP
Coinbase International XRP-PERP-INTX
Reya XRPRUSDPERP
BloFin XRP-USDT
Backpack XRP_USDC_PERP
Hibachi XRP/USDT-P
RISEx XRP/USDC
Hyperliquid XRP
Aftermath Perps XRPUSD