Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Polymarket Perps against Bybit+0.007%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Bybit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)+0.750%+$75 · spread now +0.007%, 7d avg +0.032%

Together, before fees+0.736%+$74 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 0.026% cheaper against Bybit than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5191	0.0100	pay 0.0100% / 8h	3h 31m	$343.5M	$797.9M	100x
Short	Polymarket Perps XRP-USD	1.5192	0.0100	get 0.0013% / 1h	31m 55s	$49K	$460K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Bybit. 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 BybitbpFee Polymarket PerpsbpOrdersPrice spread, now +0.007%Rate

Funding earned: $0
Price spread: +0.007% → +0.032%: −$2.57
Slippage, 4 orders: −$9.12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$30.69
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Polymarket Perps: live order book, 16 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 Bybit live order book, 3 min ago	0.33 bp	5.8 bp −$6	7.1 bp −$71	13.7 bp −$1,370	27.3 bp −$13.6K
Sell Polymarket Perps live order book, 16 min ago	1.32 bp	7.1 bp −$7	8.7 bp −$87	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
GMX XRP/USD [ETH-USDC]	L −0.0207% / S +0.0293%	1h	1.5184	−0.043%	$1.6M	—	200x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5197	+0.039%	$7K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0013%	1h	1.5195	+0.025%	$15.9M	$59.2M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5198	+0.048%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	−0.138%	$68K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5199	+0.053%	$9.0M	$22.8M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5186	−0.032%	$257K	—	150x	as long as short
Orderly PERP_XRP_USDC	+0.0045%	8h	1.5186	−0.033%	$180K	$781K	50x	as long as short
Injective XRP/USDC PERP	+0.0050%	1h	1.5090	−0.665%	$2K	$51K	30x	as long as short
Vest XRP-PERP	+0.0071%	1h	1.5187	−0.025%	—	$9K	10x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5194	+0.020%	$2.9M	$10.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5194	+0.020%	$570K	$2.4M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5198	+0.046%	$12K	$241K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5184	−0.043%	$1.1M	$5.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5187	−0.029%	$38.6M	$69.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5200	+0.057%	$672K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5189	−0.013%	$539.4M	$1.79B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5191	long leg	$343.5M	$797.9M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5190	−0.007%	$124.1M	$807.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	−0.059%	$564K	$45K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5195	+0.026%	$114K	$622K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5189	−0.013%	$354.6M	$127.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5190	−0.007%	$311.6M	$771.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5184	−0.049%	$110.5M	$140.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5184	−0.046%	$263.4M	$327.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5190	−0.007%	—	$3.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5188	−0.022%	$7.4M	$22.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5167	−0.160%	$659K	$91.2M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5169	−0.146%	$1.1M	$41.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.033%	$1.0M	$757K	50x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5192	+0.007%	$49K	$460K	20x
Bullet XRP-USD	+0.0100%	1h	1.5187	−0.025%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5192	+0.007%	$818K	$67K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5190	−0.004%	$127K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5192	+0.007%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5178	−0.086%	$50.0M	$13.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5189	−0.013%	$54.5M	$27.2M	50x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5194	+0.020%	$1.6M	$202K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5191	+0.003%	$474K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5184	−0.048%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5194	+0.021%	$73K	$37K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5195	+0.026%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5205	+0.092%	$5.3M	$41.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0193%	1h	1.5198	+0.046%	$1.7M	$895K	25x	as long as short
Kalshi KXXRPPERP	+0.0206%	8h	1.5203	+0.079%	$1.7M	$31.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0210%	1h	1.5186	−0.032%	$1.3M	$10K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5210	+0.125%	$23.4M	$61.7M	125x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5189	−0.015%	$19K	$43K	7x	as long as short
RISEx XRP/USDC	+0.0330%	1h	1.5197	+0.036%	$402K	$502K	10x	as long as short
Hyperliquid XRP	+0.0440%	1h	1.5205	+0.092%	$283.4M	$165.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0458%	1h	1.5183	−0.051%	$1K	$10K	10x	as long as short