Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Polymarket Perps against SoDEX−0.117%49s7-day average +0.019% · you buy dearer than you sell

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

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

costs, in and out, $10k−$240.242% of the position

Long on SoDEX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.008%+$1 on $10k

Price spread, last 3 days (all we have)+0.222%+$22 · spread now −0.117%, 7d avg +0.019%

Together, before fees+0.230%+$23 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 0.136% cheaper against SoDEX than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.019%. The two prices were read 49 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	SoDEX XRP-USD	1.5380	0.0100	pay 0.0013% / 1h	25m 27s	$31K	$1.8M	10x
Short	Polymarket Perps XRP-USD	1.5362	0.0100	get 0.0013% / 1h	25m 27s	$47K	$455K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SoDEX. 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 SoDEXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.117%Rate

Funding earned: $0
Price spread: −0.117% → +0.019%: −$13.56
Slippage, 4 orders: −$8.24
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$37.8
Costs to cover: 0.242%
Break-even: never at this rate

Slippage from SoDEX: live order book, 3 min ago; Polymarket Perps: live order book, 52 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 SoDEX live order book, 3 min ago	0.32 bp	4.3 bp −$4	6.7 bp −$67	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 52 min ago	2.25 bp	8.1 bp −$8	10.4 bp −$104	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	1.5379	−0.007%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5363	−0.107%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5420	+0.260%	$69K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5358	−0.141%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0098%	1h	1.5358	−0.142%	$830K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5381	+0.007%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5377	−0.017%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5374	−0.039%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.170%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5369	−0.070%	$2.9M	$12.8M	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	1.5376	−0.026%	$438K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5362	−0.114%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5358	−0.142%	$39.1M	$81.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5369	−0.072%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5363	−0.110%	$547.1M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5363	−0.111%	$341.3M	$923.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5374	−0.039%	$125.1M	$881.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5382	+0.013%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	−0.104%	$116K	$757K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.195%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5360	−0.130%	$360.8M	$147.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5362	−0.117%	$291.6M	$884.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5358	−0.144%	$109.8M	$164.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5358	−0.143%	$268.0M	$374.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5353	−0.176%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.031%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5405	+0.161%	$669K	$104.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.149%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5406	+0.169%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5366	−0.091%	—	$10K	10x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5362	−0.117%	$47K	$455K	20x
Bullet XRP-USD	+0.0100%	1h	1.5361	−0.121%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5380	+0.003%	$828K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5388	+0.054%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USDlong	+0.0100%	1h	1.5380	long leg	$31K	$1.8M	10x
HTX XRP-USDT	+0.0100%	8h	1.5379	−0.008%	$50.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5384	+0.026%	$54.7M	$29.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5367	−0.082%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5358	−0.143%	$11K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5355	−0.164%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5372	−0.054%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5359	−0.137%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5358	−0.144%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5416	+0.234%	$24.4M	$74.5M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5386	+0.039%	$5.8M	$47.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5383	+0.021%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0264%	1h	1.5385	+0.033%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0305%	8h	1.5404	+0.156%	$2.0M	$34.3M	2.9x	as long as short
Hyperliquid XRP	+0.0588%	1h	1.5374	−0.039%	$292.3M	$212.6M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5369	−0.070%	$499K	$635K	10x	as long as short
Aftermath Perps XRPUSD	+0.0791%	1h	1.5417	+0.240%	$1K	$11K	10x	as long as short