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: HTX against Lighter RH0.000%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$11 on $10k

Price spread, last 4 days (all we have)−0.203%−$20 · spread now 0.000%, 7d avg −0.052%

Together, before fees−0.088%+ Points / potential airdropLighter RH: Points live · farm board−$9 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: HTX is 0.052% dearer against Lighter RH than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5164	0.0096	pay 0.0012% / 1h	41m 33s	$497K	$3.3M	20x
Short	HTX XRP-USDT	1.5164	0.0100	get 0.0100% / 8h	3h 41m	$49.6M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter RH. 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 Lighter RHbpFee HTXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0.84
Price spread: 0.000% → −0.052%: $5.16
Slippage, 4 orders: −$10.59
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$16.59
Costs to cover: 0.226%
Break-even: 145.2 days

Slippage from Lighter RH: live order book, 2 min ago; HTX: live order book, 3 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 RH live order book, 2 min ago	1.64 bp	1.6 bp −$2	5.6 bp −$56	39.9 bp −$3,986	doesn't fit
Sell HTX live order book, 3 min ago	0.03 bp	9.1 bp −$9	12.5 bp −$125	30.5 bp −$3,046	106.4 bp −$53.2K

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	1.5164	0.000%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5159	−0.030%	$1.1M	$111K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5166	+0.013%	$7.8M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5165	+0.006%	$261K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5164	−0.002%	$14.4M	$74.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.611%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0051% / S +0.0013%	1h	1.5164	+0.001%	$778K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5162	−0.014%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5164	long leg	$497K	$3.3M	20x
Katana Perps XRP-USD	+0.0098%	8h	1.5161	−0.020%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5164	0.000%	$62K	$934K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5170	+0.041%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5156	−0.052%	$38.2M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5161	−0.020%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5161	−0.020%	$532.6M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5163	−0.007%	$345.5M	$942.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5157	−0.046%	$126.9M	$885.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5151	−0.086%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5163	−0.007%	$118K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.258%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5156	−0.053%	$370.3M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5154	−0.066%	$291.7M	$900.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5158	−0.041%	$108.7M	$176.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5155	−0.059%	$268.4M	$388.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5152	−0.079%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5202	+0.250%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5203	+0.257%	$661K	$109.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5201	+0.244%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5199	+0.231%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5179	+0.099%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5172	+0.053%	$45K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5168	+0.024%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5167	+0.023%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5172	+0.055%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5164	0.000%	$29K	$1.7M	10x	as long as short
HTX XRP-USDTshort	+0.0100%	8h	1.5164	0.000%	$49.6M	$15.7M	75x
Phemex XRPUSDT	+0.0100%	8h	1.5166	+0.013%	$54.1M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5157	−0.048%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5155	−0.058%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5164	−0.003%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5163	−0.007%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5172	+0.053%	$5.6M	$47.5M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5169	+0.034%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5206	+0.277%	$24.1M	$76.1M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5210	+0.302%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0285%	1h	1.5175	+0.073%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0296%	8h	1.5189	+0.165%	$2.0M	$35.1M	2.9x	as long as short
Hyperliquid XRP	+0.0309%	1h	1.5175	+0.070%	$291.7M	$235.3M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5165	+0.006%	$516K	$774K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5210	+0.303%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0664%	1h	1.5198	+0.223%	$2K	$15K	10x	as long as short