Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Phemex+0.131%7-day average +0.007% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Phemex Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now +0.131%, 7d avg +0.007%

Together, before fees+0.093%+$9 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 0.124% dearer against Phemex than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of +0.007%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5225	0.0100	pay 0.0100% / 8h	3h 51m	$54.3M	$31.2M	50x
Short	Polymarket Perps XRP-USD	1.5245	0.0100	get 0.0013% / 1h	51m 18s	$44K	$455K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Phemex. 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 PhemexbpFee Polymarket PerpsbpOrdersPrice spread, now +0.131%Rate

Funding earned: $0
Price spread: +0.131% → +0.007%: $12.42
Slippage, 4 orders: −$25.64
Fee Phemex: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$33.22
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Polymarket Perps: live order book, 1 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 Phemex live order book, 3 min ago	2.63 bp	20.9 bp −$21	32.5 bp −$325	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 1 min ago	1.64 bp	8.6 bp −$9	10.6 bp −$106	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	1.5244	+0.125%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5244	+0.128%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5240	+0.097%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5239	+0.092%	$7.8M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5230	+0.036%	$14.5M	$74.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.200%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0050% / S +0.0016%	1h	1.5238	+0.088%	$782K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5232	+0.047%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5236	+0.072%	$499K	$3.3M	20x	as long as short
Orderly PERP_XRP_USDC	+0.0097%	8h	1.5239	+0.092%	$62K	$934K	50x	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	+0.0098%	8h	1.5239	+0.092%	$15K	$341K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5246	+0.138%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5246	+0.138%	$38.6M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5245	+0.132%	$612K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5229	+0.025%	$535.3M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5233	+0.053%	$348.8M	$941.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5234	+0.059%	$127.8M	$887.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.335%	$566K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5246	+0.138%	$119K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5181	−0.289%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5246	+0.138%	$373.1M	$153.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5232	+0.046%	$291.1M	$897.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5230	+0.030%	$108.8M	$176.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5232	+0.046%	$269.6M	$388.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5244	+0.125%	—	$127.5M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5139	−0.566%	$4.8M	$38.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5193	−0.212%	$660K	$109.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5221	−0.028%	$1.1M	$36.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5206	−0.125%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5239	+0.095%	—	$11K	10x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5245	+0.131%	$44K	$455K	20x
Bullet XRP-USD	+0.0100%	1h	1.5245	+0.131%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5239	+0.091%	$820K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5241	+0.104%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5235	+0.066%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5244	+0.125%	$49.9M	$15.7M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5225	long leg	$54.3M	$31.2M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5245	+0.130%	$475K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5234	+0.060%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5237	+0.076%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5250	+0.164%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5244	+0.125%	$5.7M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5247	+0.146%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5224	−0.007%	$24.2M	$76.0M	125x	as long as short
Hyperliquid XRP	+0.0221%	1h	1.5259	+0.223%	$293.0M	$234.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0240%	1h	1.5224	−0.004%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0315%	1h	1.5247	+0.144%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0357%	8h	1.5245	+0.131%	$2.1M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5248	+0.148%	$519K	$773K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	−0.427%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0627%	1h	1.5183	−0.278%	$2K	$15K	10x	as long as short