Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Bybit−0.033%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 4 days (all we have)+0.789%+$79 · spread now −0.033%, 7d avg +0.035%

Together, before fees+0.776%+$78 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: Polymarket Perps is 0.068% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5169	0.0100	pay 0.0100% / 8h	5h 34m	$344.1M	$925.6M	100x
Short	Polymarket Perps XRP-USD	1.5164	0.0100	get 0.0013% / 1h	34m 12s	$42K	$449K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bybit. 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 BybitbpFee Polymarket PerpsbpOrdersPrice spread, now −0.033%Rate

Funding earned: $0
Price spread: −0.033% → +0.035%: −$6.77
Slippage, 4 orders: −$8.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$34.54
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Polymarket Perps: live order book, 28 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 Bybit live order book, 5 min ago	0.33 bp	5.8 bp −$6	7.1 bp −$71	13.4 bp −$1,344	25.3 bp −$12.7K
Sell Polymarket Perps live order book, 28 min ago	0.99 bp	7.4 bp −$7	8.8 bp −$88	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	1.5161	−0.053%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5153	−0.102%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5164	−0.035%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0033% / S +0.0045%	1h	1.5164	−0.035%	$819K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.578%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5163	−0.040%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5170	+0.007%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5174	+0.033%	$7.7M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5176	+0.044%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5179	+0.066%	$513K	$3.3M	20x	as long as short

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	1.5154	−0.099%	$10K	$308K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5168	−0.003%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5175	+0.040%	$281.1M	$220.8M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5162	−0.046%	$38.4M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	−0.094%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5179	+0.066%	$538.1M	$2.09B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5169	long leg	$344.1M	$925.6M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5172	+0.020%	$125.6M	$867.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5112	−0.376%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5162	−0.046%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.085%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5165	−0.026%	$370.0M	$151.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5167	−0.013%	$294.6M	$896.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5163	−0.041%	$106.8M	$171.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5170	+0.007%	$267.1M	$380.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5167	−0.013%	—	$126.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5151	−0.122%	$5.7M	$36.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5123	−0.305%	$657K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5134	−0.231%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5125	−0.290%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5162	−0.044%	—	$11K	10x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5164	−0.033%	$42K	$449K	20x
Bullet XRP-USD	+0.0100%	1h	1.5166	−0.020%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5172	+0.021%	$816K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5171	+0.010%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5170	+0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5170	+0.003%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5179	+0.066%	$54.0M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5160	−0.059%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5166	−0.021%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5169	−0.002%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0204%	1h	1.5175	+0.040%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5162	−0.044%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5174	+0.033%	$5.6M	$46.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5161	−0.053%	$24.3M	$74.9M	125x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5163	−0.038%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5172	+0.017%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0353%	8h	1.5162	−0.046%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5167	−0.016%	$516K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5130	−0.257%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0687%	1h	1.5144	−0.168%	$2K	$14K	10x	as long as short