Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against HTX+0.003%7-day average +0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$220.222% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.114%−$11 on $10k

Price spread, last 3 days (all we have)+0.106%+$11 · spread now +0.003%, 7d avg +0.055%

Together, before fees−0.008%+ Points / potential airdropLighter: Season 3 · farm board−$1 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 is 0.052% cheaper against HTX than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.055%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XRP-USDT	1.5315	0.0100	pay 0.0100% / 8h	7h 05m	$50.2M	$15.3M	75x
Short	Lighter XRP	1.5316	0.0096	get 0.0012% / 1h	5m 03s	$2.8M	$14.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$0.84
Price spread: +0.003% → +0.055%: −$5.17
Slippage, 4 orders: −$10.19
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$28.19
Costs to cover: 0.222%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Lighter: live order book, 9 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 HTX live order book, 4 min ago	0.03 bp	9.7 bp −$10	12.1 bp −$121	28.9 bp −$2,892	113.5 bp −$56.8K
Sell Lighter live order book, 9 min ago	0.74 bp	2.6 bp −$3	6.8 bp −$68	16.3 bp −$1,630	39.3 bp −$19.7K

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	1.5315	0.000%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5306	−0.062%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5312	−0.022%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0072%	1h	1.5311	−0.027%	$840K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.600%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5316	+0.007%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5319	+0.026%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0076%	1h	1.5319	+0.026%	$9.3M	$24.9M	50x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5316	+0.003%	$2.8M	$14.1M	20x
Lighter RH XRP	+0.0096%	1h	1.5318	+0.020%	$513K	$3.3M	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	1.5311	−0.026%	$9K	$281K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5316	+0.009%	$478K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5316	+0.010%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5314	−0.007%	$38.7M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5319	+0.023%	$630K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5312	−0.023%	$540.9M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5314	−0.007%	$341.7M	$918.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5312	−0.020%	$124.3M	$866.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5351	+0.235%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5318	+0.020%	$117K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.226%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5312	−0.020%	$374.0M	$152.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5324	+0.059%	$304.2M	$916.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5326	+0.069%	$111.0M	$167.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5313	−0.013%	$268.7M	$375.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5309	−0.039%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	−0.002%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5348	+0.216%	$666K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5355	+0.261%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5390	+0.490%	$1.2M	$997K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5316	+0.007%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5315	0.000%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5320	+0.036%	$825K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5318	+0.023%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5318	+0.020%	$30K	$1.8M	10x	as long as short
HTX XRP-USDTlong	+0.0100%	8h	1.5315	long leg	$50.2M	$15.3M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5314	−0.007%	$54.4M	$29.6M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5316	+0.009%	—	$9K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5322	+0.043%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5315	+0.003%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5313	−0.015%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5315	0.000%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5322	+0.046%	$5.7M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5316	+0.004%	$14.5M	$70.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5318	+0.022%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0307%	1h	1.5322	+0.046%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0323%	8h	1.5319	+0.026%	$2.0M	$34.7M	2.9x	as long as short
Hyperliquid XRP	+0.0371%	1h	1.5326	+0.072%	$289.2M	$215.0M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	+0.098%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5318	+0.023%	$542K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0845%	1h	1.5342	+0.179%	$2K	$13K	10x	as long as short