Funding arb · Price arb /

XRP

all XRP markets

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: OKX against Lighter RH−0.026%7-day average +0.009% · 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−$20as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on Lighter RH Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.043%+$4 on $10k

Price spread, last 7 days+0.023%+$2 · spread now −0.026%, 7d avg +0.009%

Together, before fees+0.066%+ Points / potential airdropLighter RH: Points live · farm board+$7 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: OKX is 0.036% cheaper against Lighter RH than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XRP	1.5304	0.0096	pay 0.0012% / 1h	47m 32s	$511K	$3.2M	20x
Short	OKX XRP-USDT-SWAP	1.5300	0.0100	get 0.0100% / 8h	7h 47m	$124.7M	$877.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.026%Rate

Funding earned: $0.84
Price spread: −0.026% → +0.009%: −$3.55
Slippage, 4 orders: −$6.04
Fee Lighter RH: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$18.76
Costs to cover: 0.160%
Break-even: 163.3 days

Slippage from Lighter RH: live order book, 6 min ago; OKX: live order book, 2 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, 6 min ago	1.63 bp	3.5 bp −$3	6.8 bp −$68	44.2 bp −$4,416	doesn't fit
Sell OKX live order book, 2 min ago	0.33 bp	5.3 bp −$5	8.3 bp −$83	14.8 bp −$1,479	28.8 bp −$14.4K

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	1.5311	+0.046%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5297	−0.044%	$1.1M	$113K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5305	+0.007%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0010% / S +0.0085%	1h	1.5301	−0.018%	$839K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.673%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5297	−0.046%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5299	−0.033%	$9.3M	$25.5M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5302	−0.013%	$2.8M	$13.7M	20x	as long as short
Lighter RH XRPlong	+0.0096%	1h	1.5304	long leg	$511K	$3.2M	20x
Katana Perps XRP-USD	+0.0100%	8h	1.5300	−0.026%	$11K	$276K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5298	−0.038%	$477K	$54K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5297	−0.042%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5298	−0.039%	$38.7M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5304	0.000%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5306	+0.014%	$537.8M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5299	−0.033%	$340.2M	$929.2M	100x	as long as short
OKX XRP-USDT-SWAPshort	+0.0100%	8h	1.5300	−0.026%	$124.7M	$877.3M	100x
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5292	−0.078%	$572K	$48K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5302	−0.013%	$116K	$710K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5306	+0.010%	$1.6M	$562K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5295	−0.059%	$372.2M	$148.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5301	−0.020%	$296.4M	$895.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5297	−0.047%	$108.5M	$167.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5296	−0.052%	$267.8M	$376.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5306	+0.013%	—	$123.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5329	+0.164%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5308	+0.023%	$665K	$107.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5305	+0.010%	$1.1M	$39.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5310	+0.039%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5297	−0.045%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5300	−0.026%	$48K	$443K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5305	+0.007%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5297	−0.046%	$823K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5300	−0.028%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5293	−0.072%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5291	−0.083%	$50.2M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5295	−0.059%	$54.4M	$29.7M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5296	−0.050%	$2.1M	$7.2M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5303	−0.007%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5295	−0.059%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5296	−0.050%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5308	+0.026%	$23.9M	$74.4M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5297	−0.046%	$5.8M	$46.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0238%	1h	1.5303	−0.007%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5290	−0.094%	$14.5M	$70.6M	50x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5295	−0.057%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5307	+0.020%	$2.0M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0419%	1h	1.5312	+0.052%	$290.1M	$216.1M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5320	+0.105%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0799%	1h	1.5332	+0.182%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5303	−0.005%	$506K	$755K	10x	as long as short