Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against SunX−0.106%50s7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$97as 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−$880.880% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 4 days (all we have)+0.564%+$56 · spread now −0.106%, 7d avg −0.010%

Together, before fees+0.475%+$47 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 0.096% cheaper against SunX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 50 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	SunX XRP-USDT	1.5356	0.0100	pay 0.0100% / 8h	7h 15m	$129K	$1.7M	30x
Short	Polymarket Perps XRP-USD	1.5340	0.0100	get 0.0013% / 1h	15m 24s	$52K	$504K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against SunX. 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 SunXbpFee Polymarket PerpsbpOrdersPrice spread, now −0.106%Rate

Funding earned: $0
Price spread: −0.106% → −0.010%: −$9.58
Slippage, 4 orders: −$71.99
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$97.57
Costs to cover: 0.880%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Polymarket Perps: live order book, 3 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 SunX live order book, 10 min ago	17.60 bp	21.6 bp −$22	26.3 bp −$263	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	1.96 bp	12.9 bp −$13	13.7 bp −$137	doesn't fit	doesn't fit

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
Kraken Futures PF_XRPUSD	−0.0170%	1h	1.5353	−0.019%	$14.0M	$75.0M	50x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5346	−0.067%	$5K	$3K	20x	as long as short
Phoenix XRP	0.0000%	1h	1.5310	−0.302%	$69K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5343	−0.088%	$249K	—	150x	as long as short
dYdX XRP-USD	+0.0007%	1h	1.5341	−0.100%	$1.1M	$123K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5360	+0.024%	$7.8M	$22.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.326%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5340	−0.106%	$9K	$2K	10x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5317	−0.254%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5353	−0.024%	$2.8M	$14.7M	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	1.5348	−0.054%	$624K	$3.1M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5336	−0.132%	$20K	$378K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5339	−0.109%	$1.0M	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5343	−0.087%	$38.9M	$82.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5352	−0.028%	$618K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5343	−0.087%	$536.1M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5343	−0.087%	$357.8M	$916.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5343	−0.087%	$127.8M	$839.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5326	−0.197%	$562K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5347	−0.061%	$159K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5316	−0.263%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5342	−0.093%	$376.3M	$156.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5337	−0.126%	$318.2M	$927.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5339	−0.109%	$108.3M	$180.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5335	−0.139%	$272.0M	$365.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5342	−0.093%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5344	−0.078%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5313	−0.283%	$665K	$113.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5305	−0.331%	$1.1M	$33.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5316	−0.262%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5344	−0.081%	—	$15K	10x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5340	−0.106%	$52K	$504K	20x
Bullet XRP-USD	+0.0100%	1h	1.5341	−0.100%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5345	−0.074%	$78K	$646K	50x	as long as short
SunX XRP-USDTlong	+0.0100%	8h	1.5356	long leg	$129K	$1.7M	30x
SoDEX XRP-USD	+0.0100%	1h	1.5355	−0.008%	$30K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5359	+0.020%	$50.1M	$14.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5352	−0.028%	$54.5M	$33.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5357	+0.002%	$479K	$52K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5336	−0.135%	$2.1M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5342	−0.095%	$59K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0132% / S −0.0094%	1h	1.5323	−0.216%	$784K	—	200x	as long as short
Coinbase International XRP-PERP-INTX	+0.0160%	1h	1.5361	+0.031%	$5.3M	$47.0M	50x	as long as short
Kalshi KXXRPPERP	+0.0171%	8h	1.5334	−0.145%	$1.7M	$32.9M	2.9x	as long as short
Hyperliquid XRP	+0.0179%	1h	1.5352	−0.028%	$293.7M	$265.3M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5327	−0.191%	$23.8M	$78.0M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0220%	1h	1.5364	+0.050%	$2.0M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5334	−0.142%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5345	−0.075%	$525K	$784K	10x	as long as short
Aftermath Perps XRPUSD	+0.0519%	1h	1.5297	−0.384%	$3K	$16K	10x	as long as short