Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bybit−0.008%7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$180.177% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days−0.002%$0 · spread now −0.008%, 7d avg +0.002%

Together, before fees−0.040%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5194	0.0100	pay 0.0100% / 8h	1h 22m	$346.5M	$963.8M	100x
Short	Lighter XRP	1.5193	0.0096	get 0.0012% / 1h	22m 46s	$2.8M	$15.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$0.84
Price spread: −0.008% → +0.002%: −$0.99
Slippage, 4 orders: −$6.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.52
Costs to cover: 0.177%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 6 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 Bybit live order book, 1 min ago	0.33 bp	5.8 bp −$6	6.9 bp −$69	13.8 bp −$1,378	28.9 bp −$14.5K
Sell Lighter live order book, 6 min ago	2.77 bp	2.8 bp −$3	5.8 bp −$58	13.6 bp −$1,363	37.3 bp −$18.7K

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	1.5219	+0.165%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5202	+0.054%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.105%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5194	+0.003%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5198	+0.026%	$7.7M	$24.8M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5194	−0.002%	$14.4M	$75.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.409%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0086% / S −0.0038%	1h	1.5195	+0.004%	$784K	—	200x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5193	−0.008%	$2.8M	$15.1M	20x
Lighter RH XRP	+0.0096%	1h	1.5193	−0.007%	$546K	$3.2M	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	+0.0099%	8h	1.5185	−0.059%	$10K	$372K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5187	−0.045%	$987K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5198	+0.024%	$38.6M	$87.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5199	+0.031%	$618K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5198	+0.025%	$533.3M	$2.23B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5194	long leg	$346.5M	$963.8M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5197	+0.020%	$127.8M	$885.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5198	+0.026%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5196	+0.013%	$144K	$716K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5196	+0.013%	$377.2M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5198	+0.026%	$305.5M	$928.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5195	+0.009%	$107.7M	$182.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5194	0.000%	$268.1M	$397.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5192	−0.013%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5222	+0.183%	$4.8M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5198	+0.027%	$660K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5212	+0.118%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5207	+0.086%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5201	+0.047%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5191	−0.020%	$47K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5197	+0.018%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5195	+0.007%	$65K	$747K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5148	−0.300%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5199	+0.034%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5196	+0.013%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5194	0.000%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5190	−0.026%	$54.4M	$32.5M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5157	−0.244%	$1.6M	$5K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5205	+0.071%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5191	−0.021%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5193	−0.006%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5191	−0.020%	$8K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0152%	1h	1.5209	+0.100%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5199	+0.033%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0185%	1h	1.5197	+0.020%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0204%	1h	1.5212	+0.116%	$289.3M	$264.7M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5186	−0.051%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5194	0.000%	$23.6M	$78.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0223%	8h	1.5209	+0.099%	$1.7M	$35.2M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5194	+0.003%	$532K	$801K	10x	as long as short
Aftermath Perps XRPUSD	+0.0628%	1h	1.5202	+0.053%	$2K	$16K	10x	as long as short