Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0028%/8h= −3.1% APRpaid last 24h −0.009%

Price spread now: Orderly against Polymarket Perps0.000%53s7-day average −0.019% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 3 days (all we have)−0.055%−$6 · spread now 0.000%, 7d avg −0.019%

Together, before fees−0.081%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.019%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 53 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	1.5170	0.0100	pay 0.0013% / 1h	23m 32s	$44K	$445K	20x
Short	Orderly PERP_XRP_USDC	1.5170	0.0072	get 0.0072% / 8h	6h 23m	$62K	$953K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: −$5.92
Price spread: 0.000% → −0.019%: $1.86
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$18.06
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 44 min ago; Orderly: no order-book sample. Net counts fees only.

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, 44 min ago	1.95 bp	6.5 bp −$7	9.8 bp −$98	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XRP on 50 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	1.5179	+0.059%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5172	+0.011%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5210	+0.264%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5166	−0.025%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0021% / S +0.0059%	1h	1.5166	−0.026%	$802K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.571%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5169	−0.004%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDCshort	+0.0072%	8h	1.5170	0.000%	$62K	$953K	50x
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5173	+0.020%	$7.7M	$25.2M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5179	+0.060%	$2.9M	$14.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5180	+0.066%	$517K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5158	−0.079%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5170	+0.003%	$911K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5178	+0.052%	$38.6M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5177	+0.047%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5167	−0.020%	$538.0M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5166	−0.026%	$341.5M	$940.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5168	−0.013%	$124.4M	$872.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5173	+0.020%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5171	+0.007%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	+0.129%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5174	+0.026%	$369.1M	$152.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5174	+0.026%	$290.3M	$913.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5176	+0.040%	$107.1M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5167	−0.020%	$266.0M	$383.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5171	+0.007%	—	$126.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5199	+0.191%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5184	+0.090%	$659K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5187	+0.110%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5205	+0.231%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5173	+0.022%	—	$11K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5170	long leg	$44K	$445K	20x
Bullet XRP-USD	+0.0100%	1h	1.5172	+0.010%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5172	+0.012%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5175	+0.034%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5171	+0.007%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5164	−0.037%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5171	+0.007%	$54.0M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5172	+0.015%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5167	−0.017%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5168	−0.010%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5171	+0.007%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0208%	1h	1.5177	+0.046%	$280.9M	$221.6M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5167	−0.019%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5175	+0.033%	$5.7M	$46.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5168	−0.015%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0358%	1h	1.5180	+0.066%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0360%	8h	1.5182	+0.079%	$2.1M	$35.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5171	+0.010%	$533K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0752%	1h	1.5176	+0.037%	$2K	$14K	10x	as long as short