XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0280%/8h= +30.7% APRnext payment +$0.35 per $10,000 · paid last 24h +0.080%

Price spread now: Hyperliquid against Polymarket Perps+0.059%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

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

costs, in and out, $10k−$230.234% of the position

Long on Polymarket Perps Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.177%+$18 on $10k

Price spread, last 3 days (all we have)−0.251%−$25 · spread now +0.059%, 7d avg +0.038%

Together, before fees−0.074%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Hyperliquid is 0.021% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.038%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.177% in total (about 9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.35 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	Polymarket Perps XRP-USD	1.5292	0.0100	pay 0.0013% / 1h	18m 24s	$49K	$444K	20x
Short	Hyperliquid XRP	1.5301	0.0380	get 0.0047% / 1h	18m 24s	$288.3M	$214.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.059%Rate

Funding earned: $58.78
Price spread: +0.059% → +0.038%: $2.05
Slippage, 4 orders: −$6.36
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $37.48
Costs to cover: 0.234%
Break-even: 2.5 days

Slippage from Polymarket Perps: live order book, 54 min ago; Hyperliquid: live order book, 6 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, 54 min ago	1.63 bp	8.1 bp −$8	10.7 bp −$107	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.32 bp	4.8 bp −$5	6.1 bp −$61	9.6 bp −$963	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	1.5273	−0.124%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5263	−0.187%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5297	+0.034%	$256K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0016% / S +0.0076%	1h	1.5296	+0.026%	$838K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.753%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5307	+0.098%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5277	−0.098%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0077%	1h	1.5311	+0.124%	$9.3M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5279	−0.088%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5282	−0.065%	$513K	$3.2M	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	1.5278	−0.092%	$10K	$280K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5267	−0.164%	$476K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5280	−0.078%	$997K	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5272	−0.134%	$38.6M	$83.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5272	−0.131%	$631K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5305	+0.086%	$540.8M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5308	+0.105%	$341.5M	$920.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5308	+0.105%	$124.3M	$866.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5259	−0.216%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5277	−0.098%	$116K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5274	−0.114%	$1.6M	$378K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5295	+0.020%	$373.2M	$150.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5291	−0.007%	$307.2M	$909.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5287	−0.030%	$110.1M	$166.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5306	+0.092%	$267.9M	$375.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5285	−0.046%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.150%	$6.3M	$35.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5316	+0.160%	$667K	$107.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5327	+0.229%	$1.1M	$38.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5312	+0.131%	$1.2M	$996K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5285	−0.046%	—	$9K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5292	long leg	$49K	$444K	20x
Bullet XRP-USD	+0.0100%	1h	1.5297	+0.036%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5312	+0.130%	$824K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5296	+0.025%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5309	+0.111%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5299	+0.049%	$50.2M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5284	−0.052%	$54.4M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5300	+0.055%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5305	+0.083%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5285	−0.044%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5284	−0.052%	$24.0M	$73.4M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5323	+0.203%	$5.7M	$46.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0244%	1h	1.5314	+0.147%	$14.5M	$70.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0289%	1h	1.5291	−0.007%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0312%	8h	1.5311	+0.124%	$2.0M	$34.8M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5321	+0.187%	$17K	$81K	7x	as long as short
Hyperliquid XRPshort	+0.0380%	1h	1.5301	+0.059%	$288.3M	$214.8M	20x
Phoenix XRP	+0.0520%	1h	1.5330	+0.248%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0800%	1h	1.5321	+0.190%	$2K	$12K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5277	−0.097%	$540K	$773K	10x	as long as short