Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h −0.036%

Price spread now: Polymarket Perps against BloFin−0.566%585s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as 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−$290.292% of the position

Long on BloFin Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.198%−$20 on $10k

Price spread, last 3 days (all we have)+0.630%+$63 · spread now −0.566%, 7d avg +0.002%

Together, before fees+0.432%+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Polymarket Perps is 0.568% cheaper against BloFin than usual: you would sell low and buy high (−$57 if the spread goes back to its 7-day average of +0.002%). Swap the legs. The two prices were read 585 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	BloFin XRP-USDT	1.5193	0.0220	pay 0.0220% / 8h	6h 38m	$24.0M	$75.2M	125x
Short	Polymarket Perps XRP-USD	1.5107	0.0100	get 0.0013% / 1h	38m 49s	$45K	$453K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against BloFin. 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 BloFinbpFee Polymarket PerpsbpOrdersPrice spread, now −0.566%Rate

Funding earned: −$25.2
Price spread: −0.566% → +0.002%: −$56.77
Slippage, 4 orders: −$9.21
Fee BloFin: 6 bp × 2 orders: −$12
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$111.18
Costs to cover: 0.292%
Break-even: never at this rate

Slippage from BloFin: live order book, 10 min ago; Polymarket Perps: live order book, 29 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 BloFin live order book, 10 min ago	0.99 bp	7.0 bp −$7	7.0 bp −$70	8.4 bp −$840	13.5 bp −$6,737
Sell Polymarket Perps live order book, 29 min ago	1.95 bp	8.4 bp −$8	9.7 bp −$97	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	1.5060	−0.875%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5091	−0.669%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5110	−0.546%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5083	−0.727%	$261K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0024% / S +0.0063%	1h	1.5081	−0.738%	$827K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.416%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5080	−0.746%	$14.4M	$72.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0070%	8h	1.5082	−0.731%	$57K	$945K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0082%	1h	1.5083	−0.724%	$7.6M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5079	−0.752%	$2.8M	$14.1M	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	1.5086	−0.704%	$515K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5080	−0.744%	$10K	$306K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5107	−0.563%	$778K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5096	−0.638%	$38.4M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5102	−0.598%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5075	−0.774%	$535.4M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5073	−0.790%	$338.5M	$944.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5076	−0.770%	$123.4M	$870.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5098	−0.625%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5089	−0.685%	$115K	$725K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5183	−0.067%	$1.6M	$305K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5083	−0.724%	$366.3M	$150.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5085	−0.711%	$285.7M	$904.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5086	−0.704%	$106.4M	$172.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5080	−0.744%	$264.7M	$386.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5075	−0.777%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5098	−0.624%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5152	−0.267%	$658K	$108.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5080	−0.742%	$1.1M	$38.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5163	−0.197%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5103	−0.595%	—	$12K	10x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5107	−0.566%	$45K	$453K	20x
Bullet XRP-USD	+0.0100%	1h	1.5091	−0.669%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5083	−0.725%	$812K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5086	−0.706%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5083	−0.724%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5092	−0.665%	$49.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5088	−0.691%	$53.6M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5093	−0.656%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5082	−0.732%	$2.0M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5082	−0.734%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5095	−0.645%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0184%	1h	1.5092	−0.665%	$279.0M	$220.6M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5104	−0.584%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5088	−0.691%	$5.7M	$46.3M	50x	as long as short
BloFin XRP-USDTlong	+0.0220%	8h	1.5193	long leg	$24.0M	$75.2M	125x
Hibachi XRP/USDT-P	+0.0328%	1h	1.5062	−0.863%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0330%	1h	1.5097	−0.632%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERP	+0.0339%	8h	1.5099	−0.619%	$2.1M	$36.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5092	−0.664%	$534K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0800%	1h	1.5124	−0.452%	$2K	$14K	10x	as long as short