Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: ApeX Omni against Polymarket Perps−0.112%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Polymarket Perps Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)−0.242%−$24 · spread now −0.112%, 7d avg +0.012%

Together, before fees−0.160%−$16 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: ApeX Omni is 0.124% cheaper against Polymarket Perps than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5136	0.0100	pay 0.0013% / 1h	6m 38s	$49K	$480K	20x
Short	ApeX Omni XRPUSDT	1.5119	0.0100	get 0.0013% / 1h	6m 38s	$1.2M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Polymarket Perps. 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 Polymarket PerpsbpFee ApeX OmnibpOrdersPrice spread, now −0.112%Rate

Funding earned: $0
Price spread: −0.112% → +0.012%: −$12.43
Slippage, 4 orders: −$14.25
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$44.68
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 46 min ago; ApeX Omni: live order book, 2 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 Polymarket Perps live order book, 46 min ago	1.64 bp	6.8 bp −$7	9.2 bp −$92	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 2 min ago	3.31 bp	8.5 bp −$8	12.9 bp −$129	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	1.5133	−0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5147	+0.074%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5142	+0.040%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5132	−0.023%	$258K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5141	+0.031%	$14.3M	$74.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.801%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5131	−0.034%	$794K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5153	+0.114%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5154	+0.119%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5128	−0.053%	$10K	$355K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5135	−0.003%	$982K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5152	+0.106%	$39.0M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	+0.125%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	+0.107%	$533.8M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5150	+0.092%	$343.9M	$947.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5149	+0.086%	$125.3M	$886.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5145	+0.059%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5154	+0.119%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	+0.016%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5149	+0.086%	$375.0M	$158.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5151	+0.099%	$294.2M	$910.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5153	+0.110%	$109.2M	$178.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5150	+0.092%	$269.0M	$391.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5149	+0.086%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5130	−0.042%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5113	−0.149%	$656K	$111.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5106	−0.198%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDTshort	+0.0100%	1h	1.5119	−0.112%	$1.2M	$1.1M	50x
Vest XRP-PERP	+0.0100%	1h	1.5130	−0.037%	—	$11K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5136	long leg	$49K	$480K	20x
Bullet XRP-USD	+0.0100%	1h	1.5129	−0.044%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5137	+0.007%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5138	+0.012%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5133	−0.017%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5139	+0.020%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5142	+0.042%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5139	+0.020%	$53.9M	$31.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5151	+0.101%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5147	+0.070%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5135	−0.007%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5140	+0.026%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0177%	8h	1.5141	+0.033%	$1.8M	$35.3M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5144	+0.053%	$5.7M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5129	−0.046%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5139	+0.020%	$24.2M	$75.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0235%	1h	1.5150	+0.092%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5122	−0.092%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5143	+0.044%	$516K	$777K	10x	as long as short
Hyperliquid XRP	+0.0378%	1h	1.5165	+0.192%	$290.9M	$255.8M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5110	−0.172%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0637%	1h	1.5136	0.000%	$2K	$15K	10x	as long as short