Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Binance against Lighter−0.129%7-day average +0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$150.150% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.129%, 7d avg +0.001%

Together, before fees+0.099%+ Points / potential airdropLighter: Season 3 · farm board+$10 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: Binance is 0.129% cheaper against Lighter than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5626	0.0096	pay 0.0012% / 1h	45m 55s	$3.0M	$12.6M	20x
Short	Binance XRPUSDT	1.5606	0.0100	get 0.0100% / 8h	45m 55s	$558.8M	$2.02B	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now −0.129%Rate

Funding earned: $0.84
Price spread: −0.129% → +0.001%: −$12.95
Slippage, 4 orders: −$4.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$27.1
Costs to cover: 0.150%
Break-even: 232.8 days

Slippage from Lighter: live order book, 8 min ago; Binance: live order book, 13 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 Lighter live order book, 8 min ago	1.90 bp	1.9 bp −$2	6.6 bp −$66	15.1 bp −$1,510	35.0 bp −$17.5K
Sell Binance live order book, 13 min ago	0.32 bp	5.7 bp −$6	6.6 bp −$66	12.9 bp −$1,292	28.0 bp −$14.0K

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	1.5626	−0.001%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5603	−0.148%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5650	+0.153%	$70K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5633	+0.045%	$262K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0106%	1h	1.5631	+0.034%	$860K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0006%	1h	1.5630	+0.025%	$9.7M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0031%	1h	1.5627	+0.007%	$15.7M	$68.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0056%	8h	1.5629	+0.019%	$77K	$909K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	−0.423%	$2K	$107K	30x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5626	long leg	$3.0M	$12.6M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5624	−0.013%	$445K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5625	−0.004%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5607	−0.125%	$39.7M	$80.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5616	−0.064%	$642K	$1.1M	20x	as long as short
Binance XRPUSDTshort	+0.0100%	8h	1.5606	−0.129%	$558.8M	$2.02B	100x
Bybit XRPUSDT	+0.0100%	8h	1.5603	−0.148%	$347.7M	$914.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5603	−0.148%	$127.5M	$892.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5568	−0.372%	$579K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5629	+0.019%	$117K	$752K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5633	+0.045%	$1.7M	$573K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5606	−0.129%	$373.0M	$143.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5606	−0.129%	$303.6M	$867.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5608	−0.118%	$113.6M	$163.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5600	−0.167%	$272.8M	$369.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5610	−0.103%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5634	+0.048%	$11.7M	$30.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5593	−0.212%	$677K	$103.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5605	−0.135%	$1.1M	$40.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5640	+0.089%	$1.0M	$887K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5616	−0.062%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5630	+0.025%	$49K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5633	+0.046%	$42K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5635	+0.058%	$842K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5618	−0.054%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5627	+0.006%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5622	−0.024%	$51.3M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5625	−0.007%	$55.6M	$29.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5620	−0.039%	$487K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5629	+0.019%	$13K	$266K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5601	−0.163%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5632	+0.035%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5631	+0.031%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5628	+0.015%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5585	−0.263%	$24.5M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5634	+0.051%	$5.9M	$47.9M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5570	−0.356%	$18K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5636	+0.063%	$2.0M	$33.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0396%	1h	1.5629	+0.019%	$1.7M	$1.0M	25x	as long as short
Hyperliquid XRP	+0.0625%	1h	1.5637	+0.070%	$298.0M	$208.8M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5640	+0.091%	$510K	$632K	10x	as long as short
Aftermath Perps XRPUSD	+0.0812%	1h	1.5617	−0.061%	$1K	$11K	10x	as long as short