Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0008%/8hnext payment −$0.01 per $10,000 · paid last 24h −0.016%

Price spread now: Lighter against 01 Exchange−0.096%52s7-day average — · you buy dearer than you sell

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

Long on 01 Exchange Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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 between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.096% cheaper against 01 Exchange than usual: you would sell low and buy high, −$10 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 52 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	01 Exchange XRPUSD	1.5016	0.0104	pay 0.0013% / 1h	4m 45s	$8K	$8K	10x
Short	Lighter XRP	1.5002	0.0096	get 0.0012% / 1h	4m 45s	$2.9M	$10.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against 01 Exchange. 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 01 ExchangebpFee LighterbpOrdersPrice spread, now −0.096%Rate

Funding earned: −$1.68
Price spread: −0.096% → 0.000%: −$9.56
Slippage, 4 orders: no order book: not counted
Fee 01 Exchange: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$18.24
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: 01 Exchange: no order-book sample; Lighter: live order book, 3 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 01 Exchange no order-book sample	—	—	—	—	—
Sell Lighter live order book, 3 min ago	2.15 bp	2.2 bp −$2	6.3 bp −$63	15.4 bp −$1,542	35.6 bp −$17.8K

01 Exchange: 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
GMX XRP/USD [ETH-USDC]	L −0.0208% / S +0.0294%	1h	1.5003	−0.084%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5009	−0.047%	$6K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5014	−0.011%	$1.1M	$101K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5006	−0.067%	$8.7M	$22.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5004	−0.081%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.4990	−0.173%	$2K	$62K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0049%	8h	1.4993	−0.153%	$178K	$779K	50x	as long as short
Vest XRP-PERP	+0.0088%	1h	1.5002	−0.091%	—	$9K	10x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5002	−0.096%	$2.9M	$10.7M	20x
Lighter RH XRP	+0.0096%	1h	1.5005	−0.073%	$570K	$2.4M	20x	as long as short

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	1.5018	+0.013%	$12K	$249K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.4995	−0.137%	$1.0M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.4997	−0.127%	$38.2M	$68.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5013	−0.021%	$663K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5002	−0.094%	$528.1M	$1.75B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5005	−0.073%	$338.6M	$784.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5002	−0.093%	$124.8M	$788.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.4998	−0.120%	$559K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5015	−0.007%	$111K	$613K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5015	−0.007%	$1.6M	$139K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5003	−0.087%	$349.0M	$127.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5002	−0.093%	$308.9M	$770.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5002	−0.091%	$110.8M	$137.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5002	−0.093%	$258.8M	$320.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5002	−0.093%	—	$104.3M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5029	+0.089%	$6.7M	$21.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5058	+0.280%	$654K	$89.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5028	+0.079%	$1.1M	$40.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5032	+0.107%	$995K	$687K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5007	−0.060%	$60K	$432K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5000	−0.109%	$41K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.4999	−0.116%	$808K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5012	−0.023%	$126K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.4999	−0.113%	$36K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.4991	−0.168%	$49.4M	$13.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5002	−0.093%	$53.8M	$26.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5010	−0.039%	$468K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5000	−0.109%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSDlong	+0.0104%	1h	1.5016	long leg	$8K	$8K	10x
Aevo XRP-PERP	+0.0104%	1h	1.4998	−0.119%	$72K	$39K	3x	as long as short
Kalshi KXXRPPERP	+0.0159%	8h	1.5021	+0.033%	$1.8M	$31.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0170%	1h	1.5009	−0.047%	$1.7M	$916K	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0208%	1h	1.5006	−0.067%	$5.1M	$39.8M	50x	as long as short
Reya XRPRUSDPERP	+0.0209%	1h	1.4997	−0.129%	$1.3M	$11K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5000	−0.107%	$23.3M	$59.8M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5038	+0.149%	$19K	$37K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0265%	1h	1.5002	−0.093%	$15.1M	$55.9M	50x	as long as short
Hyperliquid XRP	+0.0348%	1h	1.5017	+0.007%	$273.2M	$159.6M	20x	as long as short
RISEx XRP/USDC	+0.0441%	1h	1.5017	+0.006%	$407K	$489K	10x	as long as short
Aftermath Perps XRPUSD	+0.0451%	1h	1.5032	+0.106%	$1K	$10K	10x	as long as short
Phoenix XRP	+0.0530%	1h	1.5050	+0.226%	$67K	$89K	15x	as long as short