Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SoDEX against Polymarket Perps+0.092%7-day average −0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on Polymarket Perps Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.196%−$20 · spread now +0.092%, 7d avg −0.021%

Together, before fees−0.204%−$20 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: SoDEX is 0.112% dearer against Polymarket Perps than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5268	0.0100	pay 0.0013% / 1h	47m 44s	$50K	$471K	20x
Short	SoDEX XRP-USD	1.5282	0.0100	get 0.0013% / 1h	47m 44s	$30K	$1.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.092%Rate

Funding earned: $0
Price spread: +0.092% → −0.021%: $11.24
Slippage, 4 orders: −$5.89
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$10.65
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 58 min ago; SoDEX: live order book, 4 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, 58 min ago	1.96 bp	6.0 bp −$6	10.2 bp −$102	doesn't fit	doesn't fit
Sell SoDEX live order book, 4 min ago	0.98 bp	5.0 bp −$5	7.3 bp −$73	doesn't fit	doesn't fit

XRP on 51 exchanges

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	1.5360	+0.603%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0077%	1h	1.5283	+0.095%	$13.7M	$68.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5286	+0.115%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5270	+0.013%	$68K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5289	+0.138%	$7.6M	$19.9M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5280	+0.078%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.912%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5279	+0.072%	$9K	$987	10x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5292	+0.160%	$17K	$68K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5285	+0.114%	$2.7M	$13.5M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5289	+0.138%	$589K	$3.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5286	+0.118%	$5.5M	$41.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5286	+0.115%	$477K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5264	−0.026%	$10K	$412K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5274	+0.043%	$848K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5284	+0.105%	$296.9M	$260.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5281	+0.084%	$38.8M	$79.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5287	+0.124%	$590K	$978K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5279	+0.073%	$531.7M	$2.02B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5274	+0.039%	$358.6M	$853.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5272	+0.026%	$123.8M	$817.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5273	+0.033%	$561K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5276	+0.052%	$160K	$693K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5312	+0.285%	$1.6M	$66K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5278	+0.065%	$375.5M	$156.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5279	+0.072%	$315.3M	$877.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5278	+0.068%	$104.0M	$179.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5274	+0.039%	$269.5M	$346.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5280	+0.079%	—	$94.9M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5256	−0.076%	$4.9M	$37.1M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5262	−0.040%	$663K	$105.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5263	−0.033%	$1.1M	$32.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5270	+0.013%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5265	−0.019%	—	$15K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5268	long leg	$50K	$471K	20x
Bullet XRP-USD	+0.0100%	1h	1.5273	+0.033%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5285	+0.111%	$83K	$601K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5287	+0.125%	$822K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5286	+0.120%	$128K	$1.4M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5282	+0.092%	$30K	$1.4M	10x
HTX XRP-USDT	+0.0100%	8h	1.5248	−0.134%	$49.7M	$13.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5280	+0.079%	$54.6M	$33.2M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5277	+0.061%	$2.2M	$5.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5254	−0.093%	$59K	$25K	3x	as long as short
Kalshi KXXRPPERP	+0.0109%	8h	1.5277	+0.059%	$1.9M	$35.6M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0148%	1h	1.5288	+0.131%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5236	−0.210%	$23.8M	$77.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5263	−0.035%	$1.3M	$1K	15x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0259% / S −0.0517%	1h	1.5275	+0.049%	$879K	—	200x	as long as short
RISEx XRP/USDC	+0.0300%	1h	1.5280	+0.077%	$506K	$723K	10x	as long as short
Aftermath Perps XRPUSD	+0.0391%	1h	1.5280	+0.079%	$3K	$13K	10x	as long as short