XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0499%/8h= +54.6% APRnext payment +$0.62 per $10,000 · paid last 24h +0.070%

Price spread now: Hyperliquid against Lighter+0.062%7-day average +0.042% · you sell dearer than you buy

Net, funding: paid 7d − costs+$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$130.134% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.190%+$19 on $10k

Price spread, last 7 days−0.074%−$7 · spread now +0.062%, 7d avg +0.042%

Together, before fees+0.116%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Hyperliquid is 0.020% dearer against Lighter than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.042%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.190% in total (about 9.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.62 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XRP	1.5561	0.0096	pay 0.0012% / 1h	18m 08s	$3.0M	$12.4M	20x
Short	Hyperliquid XRP	1.5571	0.0595	get 0.0074% / 1h	18m 08s	$290.3M	$203.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.062%Rate

Funding earned: $104.79
Price spread: +0.062% → +0.042%: $2.03
Slippage, 4 orders: −$4.38
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $93.44
Costs to cover: 0.134%
Break-even: 0.8 days

Slippage from Lighter: live order book, 5 min ago; Hyperliquid: 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 Lighter live order book, 5 min ago	0.91 bp	1.3 bp −$1	5.7 bp −$57	14.8 bp −$1,478	36.8 bp −$18.4K
Sell Hyperliquid live order book, 6 min ago	0.32 bp	4.8 bp −$5	5.3 bp −$53	9.5 bp −$949	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
Hotstuff XRP-PERP	−0.0080%	1h	1.5561	−0.002%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0003% / S +0.0117%	1h	1.5557	−0.025%	$851K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5562	+0.004%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5558	−0.021%	$260K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0007%	1h	1.5563	+0.011%	$9.6M	$25.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.008%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5559	−0.012%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5559	−0.015%	$78K	$949K	50x	as long as short
Lighter XRPlong	+0.0096%	1h	1.5561	long leg	$3.0M	$12.4M	20x
Lighter RH XRP	+0.0096%	1h	1.5561	−0.002%	$441K	$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
Nado XRP-PERP	+0.0100%	1h	1.5552	−0.057%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5560	−0.008%	$39.5M	$78.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5565	+0.022%	$641K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5561	−0.002%	$559.9M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5566	+0.030%	$346.6M	$899.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5566	+0.030%	$127.5M	$882.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5554	−0.047%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5563	+0.011%	$119K	$743K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	+0.034%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5555	−0.041%	$374.1M	$140.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5562	+0.004%	$296.4M	$858.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5561	0.000%	$113.9M	$159.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5552	−0.060%	$271.8M	$363.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5556	−0.034%	—	$118.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5549	−0.082%	$11.8M	$30.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5567	+0.035%	$676K	$102.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5574	+0.080%	$1.1M	$41.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5555	−0.041%	$1.0M	$883K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5553	−0.054%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5561	−0.002%	$47K	$447K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5558	−0.023%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5561	0.000%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5566	+0.028%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5560	−0.008%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5558	−0.018%	$51.1M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5558	−0.021%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5560	−0.008%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5556	−0.034%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5555	−0.038%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5558	−0.018%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5555	−0.041%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5560	−0.012%	$18K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5553	−0.056%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5562	+0.004%	$5.8M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5549	−0.079%	$24.5M	$73.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0293%	1h	1.5563	+0.011%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0324%	8h	1.5564	+0.017%	$1.9M	$32.9M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5560	−0.008%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5568	+0.045%	$510K	$630K	10x	as long as short
Hyperliquid XRPshort	+0.0595%	1h	1.5571	+0.062%	$290.3M	$203.7M	20x
Aftermath Perps XRPUSD	+0.0764%	1h	1.5563	+0.010%	$1K	$11K	10x	as long as short