Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter RH against Bybit+0.288%7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs+$13as in the Price arb table

costs, in and out, $10k−$160.164% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.040%−$4 on $10k

Price spread, last 7 days−0.319%−$32 · spread now +0.288%, 7d avg −0.009%

Together, before fees−0.359%+ Points / potential airdropLighter RH: Points live · farm board−$36 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter RH is 0.297% dearer against Bybit than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of −0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5275	0.0100	pay 0.0100% / 8h	7h 20m	$356.6M	$921.8M	100x
Short	Lighter RH XRP	1.5319	0.0096	get 0.0012% / 1h	20m 53s	$623K	$3.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.288%Rate

Funding earned: −$0.84
Price spread: +0.288% → −0.009%: $29.67
Slippage, 4 orders: −$5.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: $12.45
Costs to cover: 0.164%
Break-even: from the start

Slippage from Bybit: live order book, 3 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 Bybit live order book, 3 min ago	0.33 bp	6.6 bp −$7	8.4 bp −$84	14.7 bp −$1,468	26.8 bp −$13.4K
Sell Lighter RH live order book, 2 min ago	1.96 bp	2.0 bp −$2	5.5 bp −$55	41.4 bp −$4,142	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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5317	+0.273%	$14.8M	$74.0M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5286	+0.072%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5190	−0.556%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5287	+0.079%	$248K	—	150x	as long as short
dYdX XRP-USD	+0.0008%	1h	1.5286	+0.070%	$1.1M	$160K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0011%	1h	1.5320	+0.295%	$7.8M	$23.1M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.866%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5285	+0.065%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5283	+0.051%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5316	+0.268%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRPshort	+0.0096%	1h	1.5319	+0.288%	$623K	$3.1M	20x
Katana Perps XRP-USD	+0.0100%	8h	1.5284	+0.059%	$20K	$380K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5286	+0.073%	$1.0M	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5284	+0.059%	$38.7M	$84.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5287	+0.079%	$615K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5282	+0.044%	$532.7M	$2.16B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5275	long leg	$356.6M	$921.8M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5276	+0.007%	$126.7M	$844.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5193	−0.537%	$561K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5295	+0.131%	$144K	$703K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5141	−0.874%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5284	+0.059%	$374.5M	$155.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5294	+0.124%	$316.6M	$923.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5301	+0.169%	$107.7M	$181.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5281	+0.039%	$270.3M	$373.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5280	+0.033%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	+0.224%	$4.8M	$38.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5245	−0.194%	$662K	$112.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5273	−0.011%	$1.1M	$32.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5249	−0.170%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5296	+0.137%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5292	+0.111%	$52K	$509K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5304	+0.191%	$41K	$67K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5311	+0.236%	$78K	$647K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.821%	$815K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5320	+0.298%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5315	+0.262%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5316	+0.268%	$50.0M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5312	+0.242%	$54.4M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5289	+0.095%	$477K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5289	+0.091%	$2.1M	$6.3M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5313	+0.248%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0131% / S −0.0092%	1h	1.5312	+0.240%	$782K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5312	+0.242%	$5.4M	$47.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0169%	8h	1.5297	+0.144%	$1.7M	$33.1M	2.9x	as long as short
Hyperliquid XRP	+0.0179%	1h	1.5295	+0.131%	$292.7M	$264.0M	20x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5329	+0.354%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5313	+0.249%	$24.0M	$77.8M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5292	+0.114%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5278	+0.019%	$523K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0533%	1h	1.5220	−0.361%	$3K	$16K	10x	as long as short