Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter RH against Paradex+0.096%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on Paradex Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.010%−$1 on $10k

Price spread, last 4 days (all we have)−0.116%−$12 · spread now +0.096%, 7d avg −0.006%

Together, before fees−0.126%+ Points / potential airdropParadex: Active · Lighter RH: Points live · farm board−$13 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: Lighter RH is 0.102% dearer against Paradex than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex XRP-USD-PERP	1.5186	0.0100	pay 0.0100% / 8h	6h 57m	$473K	$55K	50x
Short	Lighter RH XRP	1.5201	0.0096	get 0.0012% / 1h	57m 52s	$507K	$3.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Paradex. 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 ParadexbpFee Lighter RHbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$0.84
Price spread: +0.096% → −0.006%: $10.22
Slippage, 4 orders: −$16.04
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$10.66
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from Paradex: live order book, 11 min ago; Lighter RH: live order book, 5 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 Paradex live order book, 11 min ago	5.86 bp	7.9 bp −$8	147.5 bp −$1,475	doesn't fit	doesn't fit
Sell Lighter RH live order book, 5 min ago	1.31 bp	1.3 bp −$1	5.8 bp −$58	40.2 bp −$4,017	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	1.5181	−0.036%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5165	−0.138%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5188	+0.011%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0069%	1h	1.5194	+0.048%	$834K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.460%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5194	+0.048%	$14.2M	$70.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0066%	8h	1.5198	+0.076%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5214	+0.182%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5200	+0.087%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRPshort	+0.0096%	1h	1.5201	+0.096%	$507K	$3.2M	20x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5207	+0.136%	$11K	$288K	20x	as long as short
Paradex XRP-USD-PERPlong	+0.0100%	8h	1.5186	long leg	$473K	$55K	50x
Nado XRP-PERP	+0.0100%	1h	1.5220	+0.221%	$923K	$5.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5206	+0.126%	$38.4M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5177	−0.063%	$616K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5210	+0.155%	$536.3M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5203	+0.109%	$339.1M	$924.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5202	+0.103%	$122.6M	$866.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5190	+0.024%	$567K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5206	+0.129%	$115K	$713K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+1.075%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5204	+0.116%	$367.7M	$147.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5203	+0.109%	$297.1M	$887.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5197	+0.070%	$109.1M	$168.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5200	+0.089%	$266.4M	$378.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5200	+0.089%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5216	+0.194%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5260	+0.483%	$663K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5199	+0.085%	$1.1M	$37.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.432%	$1.2M	$999K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5213	+0.174%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5215	+0.188%	$44K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5203	+0.112%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5195	+0.060%	$818K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5205	+0.119%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5196	+0.063%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5202	+0.104%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5196	+0.063%	$53.9M	$29.4M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5198	+0.075%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5198	+0.075%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0145%	1h	1.5198	+0.076%	$9.2M	$24.6M	50x	as long as short
Hyperliquid XRP	+0.0192%	1h	1.5211	+0.162%	$283.1M	$220.2M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5211	+0.164%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5197	+0.070%	$5.7M	$46.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5226	+0.261%	$24.1M	$74.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5221	+0.228%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0324%	8h	1.5201	+0.096%	$2.0M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5206	+0.128%	$537K	$777K	10x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	+0.353%	$68K	$110K	15x	as long as short
Backpack XRP_USDC_PERP	+0.0522%	1h	1.5212	+0.168%	$1.9M	$1.3M	25x	as long as short
Aftermath Perps XRPUSD	+0.0827%	1h	1.5257	+0.467%	$2K	$13K	10x	as long as short