XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0337%/8h= −36.9% APRnext payment −$0.42 per $10,000 · paid last 24h −0.063%

Price spread now: Polymarket Perps against Hyperliquid−0.013%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$240.240% of the position

Long on Hyperliquid Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 3 days (all we have)+0.581%+$58 · spread now −0.013%, 7d avg −0.039%

Together, before fees+0.421%+ Points / potential airdropHyperliquid: Season 2 · farm board+$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.026% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.013% now, against its 7-day average of −0.039%): +$3 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 6 hours. At the pace of the last 7 days (−0.160% in total) that is about 27 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.160% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5295	0.0437	pay 0.0055% / 1h	50m 57s	$285.6M	$174.1M	20x
Short	Polymarket Perps XRP-USD	1.5293	0.0100	get 0.0013% / 1h	50m 57s	$51K	$456K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Hyperliquid. 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 HyperliquidbpFee Polymarket PerpsbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$70.8
Price spread: −0.013% → −0.039%: $2.61
Slippage, 4 orders: −$7.03
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$92.22
Costs to cover: 0.240%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 13 min ago; Polymarket Perps: live order book, 36 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 Hyperliquid live order book, 13 min ago	0.33 bp	4.9 bp −$5	7.5 bp −$75	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 36 min ago	2.31 bp	7.4 bp −$7	9.5 bp −$95	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
GMX XRP/USD [ETH-USDC]	L −0.0211% / S +0.0297%	1h	1.5286	−0.057%	$1.7M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5270	−0.163%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5283	−0.079%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5300	+0.033%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5288	−0.046%	$9.3M	$23.4M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5288	−0.048%	$256K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.033%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5281	−0.092%	$180K	$785K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5284	−0.072%	$3.0M	$11.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5289	−0.039%	$444K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5288	−0.049%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5278	−0.111%	$38.8M	$71.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5287	−0.052%	$673K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5272	−0.148%	$546.8M	$1.83B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5268	−0.177%	$343.9M	$830.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5266	−0.190%	$123.4M	$825.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5294	−0.007%	$568K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5296	+0.007%	$115K	$643K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5273	−0.144%	$355.3M	$128.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5276	−0.124%	$295.3M	$786.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5277	−0.115%	$112.1M	$145.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5276	−0.124%	$266.0M	$336.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5273	−0.144%	—	$112.5M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5289	−0.039%	$1.7M	$914K	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5304	+0.062%	$6.4M	$24.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5297	+0.011%	$665K	$94.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5308	+0.085%	$1.1M	$42.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5297	+0.013%	$1.0M	$823K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5286	−0.058%	—	$10K	10x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5293	−0.013%	$51K	$456K	20x
Bullet XRP-USD	+0.0100%	1h	1.5285	−0.065%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5287	−0.052%	$823K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5289	−0.039%	$128K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5281	−0.092%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5285	−0.065%	$50.3M	$14.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5287	−0.052%	$54.6M	$27.9M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5279	−0.105%	$1.6M	$350K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5289	−0.040%	$477K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5292	−0.020%	$12K	$236K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5273	−0.142%	$2.1M	$7.4M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5288	−0.048%	$71K	$40K	3x	as long as short
Kraken Futures PF_XRPUSD	+0.0170%	1h	1.5287	−0.053%	$15.3M	$62.6M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5292	−0.020%	$5.3M	$42.6M	50x	as long as short
Kalshi KXXRPPERP	+0.0206%	8h	1.5294	−0.007%	$1.7M	$31.9M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5288	−0.045%	$1.4M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5278	−0.111%	$23.9M	$65.6M	125x	as long as short
01 Exchange XRPUSD	+0.0248%	1h	1.5299	+0.026%	$8K	$8K	10x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5299	+0.024%	$19K	$55K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5304	+0.057%	$405K	$503K	10x	as long as short
Hyperliquid XRPlong	+0.0437%	1h	1.5295	long leg	$285.6M	$174.1M	20x
Aftermath Perps XRPUSD	+0.0550%	1h	1.5302	+0.043%	$1K	$10K	10x	as long as short