Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bitget against Lighter−0.069%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 7 days+0.071%+$7 · spread now −0.069%, 7d avg +0.003%

Together, before fees+0.120%+ Points / potential airdropLighter: Season 3 · farm board+$12 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: Bitget is 0.072% cheaper against Lighter than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5167	0.0096	pay 0.0012% / 1h	23m 04s	$2.9M	$14.7M	20x
Short	Bitget XRPUSDT	1.5157	0.0100	get 0.0100% / 8h	3h 23m	$268.9M	$389.5M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.069%Rate

Funding earned: $0.84
Price spread: −0.069% → +0.003%: −$7.23
Slippage, 4 orders: −$4.6
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$22.99
Costs to cover: 0.166%
Break-even: 198.6 days

Slippage from Lighter: live order book, 5 min ago; Bitget: live order book, 1 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, 5 min ago	0.76 bp	2.9 bp −$3	7.6 bp −$76	17.3 bp −$1,729	37.5 bp −$18.7K
Sell Bitget live order book, 1 min ago	0.33 bp	6.5 bp −$7	8.0 bp −$80	16.2 bp −$1,616	23.5 bp −$11.8K

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	1.5178	+0.070%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5163	−0.026%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5170	+0.017%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5167	−0.003%	$253K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5163	−0.026%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.588%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5167	−0.003%	$791K	—	200x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5167	long leg	$2.9M	$14.7M	20x
Lighter RH XRP	+0.0096%	1h	1.5165	−0.016%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5166	−0.010%	$9K	$348K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5166	−0.006%	$996K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5161	−0.043%	$38.7M	$85.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5171	+0.026%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5157	−0.069%	$534.4M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5157	−0.069%	$345.7M	$943.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5162	−0.036%	$126.6M	$883.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5147	−0.135%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5170	+0.017%	$131K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	−0.019%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5159	−0.056%	$371.2M	$156.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5157	−0.069%	$296.1M	$904.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5162	−0.035%	$109.1M	$177.8M	75x	as long as short
Bitget XRPUSDTshort	+0.0100%	8h	1.5157	−0.069%	$268.9M	$389.5M	125x
BingX XRP-USDC	+0.0100%	8h	1.5159	−0.056%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5187	+0.127%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.140%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5166	−0.012%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.188%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5167	−0.002%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5171	+0.023%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5166	−0.009%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5166	−0.010%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5167	−0.004%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5172	+0.031%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5166	−0.010%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5169	+0.011%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5160	−0.049%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5170	+0.015%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5162	−0.034%	$2.0M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5165	−0.016%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5171	+0.023%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5175	+0.050%	$5.7M	$47.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5166	−0.010%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5163	−0.029%	$24.2M	$75.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0259%	1h	1.5170	+0.017%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5160	−0.051%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0302%	8h	1.5172	+0.030%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5170	+0.017%	$517K	$776K	10x	as long as short
Hyperliquid XRP	+0.0405%	1h	1.5175	+0.050%	$299.0M	$246.8M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.149%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0681%	1h	1.5191	+0.155%	$2K	$15K	10x	as long as short