Funding you earn now, next payment 00:00 UTC−0.0170%/8h= −18.6% APRnext payment −$0.21 per $10,000 · paid last 24h −0.017%
Price spread now: Polymarket Perps against Backpack−0.117%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$260.262% of the position
Funding, last 7 days−0.110%−$11 on $10k
+Price spread, last 3 days (all we have)+0.362%+$36 · spread now −0.117%, 7d avg −0.013%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Polymarket Perps is 0.103% cheaper against Backpack than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.013%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XRP_USDC_PERP | 1.5428 | 0.0270 | pay 0.0034% / 1h | 29m 07s | $1.7M | $1.0M | 25x |
| Short | Polymarket Perps XRP-USD | 1.5410 | 0.0100 | get 0.0013% / 1h | 29m 07s | $47K | $455K | 20x |
Backpack XRP_USDC_PERP
Polymarket Perps XRP-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$35.68
- Price spread: −0.117% → −0.013%
- −$10.34
- Slippage, 4 orders
- −$8.24
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$72.25
- Costs to cover
- 0.262%
- Break-even
- never at this rate
Slippage from Backpack: live order book, 5 min ago; Polymarket Perps: live order book, 48 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 Backpack live order book, 5 min ago | 0.32 bp | 5.3 bp −$5 | 7.5 bp −$75 | doesn't fit | doesn't fit |
| Sell Polymarket Perps live order book, 48 min ago | 2.25 bp | 8.1 bp −$8 | 10.4 bp −$104 | doesn't fit | 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 | 1.5402 | −0.169% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5392 | −0.236% | $1.1M | $113K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5420 | −0.052% | $69K | $90K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5415 | −0.082% | $267K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0005% / S +0.0099% | 1h | 1.5416 | −0.077% | $833K | — | 200x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0032% | 1h | 1.5419 | −0.058% | $15.1M | $69.6M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0058% | 8h | 1.5427 | −0.006% | $76K | $910K | 50x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0074% | 1h | 1.5425 | −0.019% | $9.5M | $25.4M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0089% | 1h | 1.5560 | +0.856% | $2K | $107K | 30x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5416 | −0.075% | $3.0M | $12.7M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Deribit XRP_USDC-PERPETUAL
Injective XRP/USDC PERP
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5419 | −0.058% | $439K | $3.1M | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5398 | −0.194% | $1.1M | $5.5M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5420 | −0.049% | $39.3M | $81.0M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5404 | −0.155% | $634K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5417 | −0.071% | $550.1M | $2.03B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5413 | −0.097% | $343.3M | $922.3M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5417 | −0.071% | $125.7M | $883.0M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5382 | −0.298% | $574K | $41K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5406 | −0.143% | $116K | $757K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5410 | −0.117% | $1.7M | $572K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5413 | −0.097% | $361.5M | $146.7M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5415 | −0.084% | $296.2M | $881.4M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5415 | −0.086% | $111.9M | $164.3M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5415 | −0.084% | $268.9M | $373.0M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5415 | −0.084% | — | $3.7M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5433 | +0.031% | $11.5M | $30.6M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5454 | +0.166% | $671K | $104.4M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5414 | −0.089% | $1.1M | $40.4M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5462 | +0.220% | $1.0M | $900K | 50x | as long as short |
| Polymarket Perps XRP-USDshort | +0.0100% | 1h | 1.5410 | −0.117% | $47K | $455K | 20x | |
| Bullet XRP-USD | +0.0100% | 1h | 1.5417 | −0.070% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5426 | −0.015% | $830K | $81K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5424 | −0.023% | $129K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5421 | −0.045% | $33K | $1.8M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5405 | −0.148% | $50.6M | $15.5M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5417 | −0.071% | $54.8M | $29.4M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5401 | −0.173% | $480K | $54K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5406 | −0.141% | — | $10K | 10x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5406 | −0.143% | $11K | $268K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5419 | −0.061% | $2.1M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5423 | −0.032% | $72K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0168% | 1h | 1.5408 | −0.130% | $8K | $8K | 10x | as long as short |
| Reya XRPRUSDPERP | +0.0212% | 1h | 1.5406 | −0.144% | $1.4M | $8K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5428 | 0.000% | $24.4M | $74.6M | 125x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0224% | 1h | 1.5425 | −0.019% | $5.8M | $47.3M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0256% | 1h | 1.5404 | −0.158% | $18K | $82K | 7x | as long as short |
| Backpack XRP_USDC_PERPlong | +0.0270% | 1h | 1.5428 | long leg | $1.7M | $1.0M | 25x | |
| Kalshi KXXRPPERP | +0.0305% | 8h | 1.5410 | −0.117% | $2.0M | $34.3M | 2.9x | as long as short |
| Hyperliquid XRP | +0.0585% | 1h | 1.5428 | 0.000% | $293.3M | $212.1M | 20x | as long as short |
| RISEx XRP/USDC | +0.0761% | 1h | 1.5416 | −0.080% | $501K | $633K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0798% | 1h | 1.5448 | +0.130% | $1K | $11K | 10x | as long as short |
Lighter RH XRP
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Vest XRP-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Reya XRPRUSDPERP
BloFin XRP-USDT
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
Kalshi KXXRPPERP
Hyperliquid XRP
RISEx XRP/USDC
Aftermath Perps XRPUSD