XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0119%/8h= −13.0% APRnext payment −$0.15 per $10,000 · paid last 24h −0.090%

Price spread now: Polymarket Perps against Hyperliquid−0.091%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Hyperliquid Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.187%−$19 on $10k

Price spread, last 4 days (all we have)+0.660%+$66 · spread now −0.091%, 7d avg −0.043%

Together, before fees+0.473%+ Points / potential airdropHyperliquid: Season 2 · farm board+$47 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 0.048% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid XRP	1.5360	0.0219	pay 0.0027% / 1h	55m 34s	$295.7M	$267.8M	20x
Short	Polymarket Perps XRP-USD	1.5346	0.0100	get 0.0013% / 1h	55m 34s	$52K	$480K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Hyperliquid. 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 HyperliquidbpFee Polymarket PerpsbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$24.91
Price spread: −0.091% → −0.043%: −$4.81
Slippage, 4 orders: −$32.93
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$79.64
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Polymarket Perps: live order book, 23 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 Hyperliquid live order book, 8 min ago	0.32 bp	5.4 bp −$5	7.3 bp −$73	13.2 bp −$1,318	doesn't fit
Sell Polymarket Perps live order book, 23 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
Hotstuff XRP-PERP	−0.0080%	1h	1.5396	+0.234%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5378	+0.116%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	+0.456%	$69K	$109K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5432	+0.469%	$8.0M	$22.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	+0.772%	$251K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5425	+0.426%	$14.1M	$73.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.302%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0064%	1h	1.5439	+0.515%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5387	+0.177%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5384	+0.156%	$619K	$3.1M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5348	−0.078%	$17K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5373	+0.082%	$479K	$51K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5354	−0.036%	$989K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5343	−0.109%	$39.0M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5379	+0.123%	$608K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5344	−0.104%	$535.3M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5345	−0.098%	$356.5M	$907.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5344	−0.104%	$125.7M	$848.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5434	+0.482%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5356	−0.026%	$166K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5425	+0.420%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5363	+0.020%	$384.0M	$155.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5372	+0.078%	$306.2M	$896.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5384	+0.159%	$109.3M	$180.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5346	−0.091%	$272.2M	$361.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5359	−0.007%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5429	+0.452%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5432	+0.470%	$672K	$113.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5452	+0.601%	$1.1M	$32.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5438	+0.508%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5374	+0.090%	—	$15K	10x	as long as short
Polymarket Perps XRP-USDshort	+0.0100%	1h	1.5346	−0.091%	$52K	$480K	20x
Bullet XRP-USD	+0.0100%	1h	1.5440	+0.519%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5437	+0.501%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5430	+0.454%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5426	+0.430%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5426	+0.429%	$50.3M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5423	+0.410%	$54.8M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5357	−0.020%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5441	+0.525%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5347	−0.085%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5427	+0.436%	$5.3M	$45.8M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0145% / S −0.0112%	1h	1.5436	+0.492%	$827K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5451	+0.592%	$1.7M	$32.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0190%	1h	1.5428	+0.443%	$2.0M	$1.3M	25x	as long as short
Hyperliquid XRPlong	+0.0219%	1h	1.5360	long leg	$295.7M	$267.8M	20x
BloFin XRP-USDT	+0.0220%	8h	1.5443	+0.540%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5347	−0.082%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5442	+0.537%	$516K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0488%	1h	1.5458	+0.639%	$3K	$15K	10x	as long as short