XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0096%/8h= +10.5% APRnext payment +$0.12 per $10,000 · paid last 24h −0.004%

Price spread now: Lighter against Phoenix−0.061%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$760.757% of the position

Long on Phoenix Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.109%+$11 on $10k

Price spread, last 4 days (all we have)−0.147%−$15 · spread now −0.061%, 7d avg −0.001%

Together, before fees−0.039%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.059% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.061% now, against its 7-day average of −0.001%). If the spread goes back, that is −$6 on $10k: about 2.1 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix XRP	1.5230	0	get 0.0000% / 1h	10m 29s	$68K	$110K	15x
Short	Lighter XRP	1.5221	0.0096	get 0.0012% / 1h	10m 29s	$2.8M	$15.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Phoenix. 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 PhoenixbpFee LighterbpOrdersPrice spread, now −0.061%Rate

Funding earned: $20.16
Price spread: −0.061% → −0.001%: −$5.93
Slippage, 4 orders: −$68.66
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$61.43
Costs to cover: 0.757%
Break-even: 28.3 days

Slippage from Phoenix: live order book, 12 min ago; Lighter: live order book, 8 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 Phoenix live order book, 12 min ago	6.57 bp	35.8 bp −$36	94.7 bp −$947	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	1.46 bp	1.9 bp −$2	7.8 bp −$78	17.5 bp −$1,749	40.0 bp −$20.0K

XRP on 50 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	1.5220	−0.066%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5215	−0.100%	$1.1M	$148K	10x	as long as short
Phoenix XRPlong	0.0000%	1h	1.5230	long leg	$68K	$110K	15x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5226	−0.030%	$246K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5224	−0.039%	$7.8M	$24.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0024%	1h	1.5221	−0.060%	$14.5M	$74.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.167%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0090% / S −0.0044%	1h	1.5216	−0.091%	$785K	—	200x	as long as short
Lighter XRPshort	+0.0096%	1h	1.5221	−0.061%	$2.8M	$15.1M	20x
Lighter RH XRP	+0.0096%	1h	1.5220	−0.066%	$546K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0099%	8h	1.5209	−0.138%	$10K	$371K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5208	−0.141%	$1.0M	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5216	−0.091%	$38.6M	$87.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5220	−0.067%	$619K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5213	−0.109%	$534.1M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5206	−0.158%	$348.7M	$961.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5211	−0.125%	$127.6M	$879.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5217	−0.085%	$566K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5219	−0.072%	$145K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	−0.044%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5216	−0.092%	$377.6M	$161.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5216	−0.092%	$312.5M	$932.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5216	−0.089%	$107.8M	$182.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5214	−0.105%	$268.9M	$396.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5213	−0.112%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5214	−0.107%	$4.8M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5223	−0.044%	$661K	$113.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5226	−0.024%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5230	0.000%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5222	−0.053%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5218	−0.079%	$64K	$492K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	−0.081%	$41K	$71K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5222	−0.053%	$75K	$695K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5228	−0.016%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5220	−0.066%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5231	+0.003%	$49.7M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5222	−0.053%	$54.5M	$32.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5223	−0.043%	$475K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5209	−0.137%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5221	−0.062%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5216	−0.092%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5220	−0.063%	$17K	$79K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5231	+0.007%	$5.7M	$48.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5228	−0.013%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0215%	1h	1.5227	−0.020%	$289.7M	$266.4M	20x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5218	−0.078%	$1.3M	$4K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5221	−0.059%	$23.6M	$78.2M	125x	as long as short
Kalshi KXXRPPERP	+0.0222%	8h	1.5229	−0.007%	$1.8M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5219	−0.071%	$529K	$806K	10x	as long as short
Aftermath Perps XRPUSD	+0.0673%	1h	1.5233	+0.019%	$2K	$16K	10x	as long as short