XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.03 per $10,000 · paid last 24h −0.028%

Price spread now: Deribit against Polymarket Perps−0.176%48s7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$250.251% of the position

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.129%+$13 on $10k

Price spread, last 3 days (all we have)+0.112%+$11 · spread now −0.176%, 7d avg +0.013%

Together, before fees+0.241%+$24 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.189% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.013%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.129%, so the current rate has only just turned against you. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5374	0.0100	pay 0.0013% / 1h	57m 28s	$48K	$458K	20x
Short	Deribit XRP_USDC-PERPETUAL	1.5347	0.0076	get 0.0010% / 1h	57m 28s	$9.3M	$25.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Polymarket Perps. 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 Polymarket PerpsbpFee DeribitbpOrdersPrice spread, now −0.176%Rate

Funding earned: −$5.04
Price spread: −0.176% → +0.013%: −$18.87
Slippage, 4 orders: −$10.07
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$48.98
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 15 min ago; Deribit: live order book, 2 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 Polymarket Perps live order book, 15 min ago	1.63 bp	8.1 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	0.33 bp	5.7 bp −$6	7.3 bp −$73	58.8 bp −$5,882	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	1.5364	−0.065%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5345	−0.187%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	−0.156%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5385	+0.074%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0008% / S +0.0089%	1h	1.5380	+0.037%	$842K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.210%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5386	+0.078%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0076%	1h	1.5347	−0.176%	$9.3M	$25.7M	50x
01 Exchange XRPUSD	+0.0088%	1h	1.5370	−0.026%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5353	−0.133%	$2.9M	$13.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5360	−0.091%	$513K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5366	−0.052%	$12K	$271K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5370	−0.023%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5368	−0.037%	$38.9M	$83.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5356	−0.117%	$634K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5384	+0.066%	$541.5M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5387	+0.085%	$340.9M	$933.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5387	+0.085%	$125.8M	$887.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5339	−0.228%	$571K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5365	−0.059%	$116K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5337	−0.241%	$1.7M	$565K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5383	+0.059%	$373.5M	$147.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5378	+0.026%	$303.9M	$888.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5377	+0.020%	$109.9M	$167.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5391	+0.111%	$269.9M	$378.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5372	−0.013%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5346	−0.179%	$6.4M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5357	−0.110%	$667K	$106.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5369	−0.033%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5352	−0.143%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5362	−0.076%	—	$10K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5374	long leg	$48K	$458K	20x
Bullet XRP-USD	+0.0100%	1h	1.5379	+0.033%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5388	+0.090%	$828K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5347	−0.177%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5344	−0.195%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5341	−0.211%	$50.3M	$15.7M	75x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5359	−0.095%	$479K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5359	−0.097%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5390	+0.101%	$56K	$18K	3x	as long as short
Phemex XRPUSDT	+0.0188%	8h	1.5351	−0.150%	$54.7M	$29.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5370	−0.029%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5351	−0.150%	$24.0M	$75.0M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5350	−0.156%	$5.8M	$46.9M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0243%	1h	1.5356	−0.117%	$1.7M	$1.2M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5343	−0.199%	$14.9M	$70.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5344	−0.195%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5350	−0.156%	$2.2M	$35.3M	2.9x	as long as short
Hyperliquid XRP	+0.0573%	1h	1.5390	+0.104%	$291.6M	$216.8M	20x	as long as short
Aftermath Perps XRPUSD	+0.0780%	1h	1.5354	−0.131%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5371	−0.017%	$513K	$753K	10x	as long as short