Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: BingX against Polymarket Perps+0.026%7-day average −0.028% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Polymarket Perps Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 3 days (all we have)−0.535%−$53 · spread now +0.026%, 7d avg −0.028%

Together, before fees−0.496%−$50 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: BingX is 0.053% dearer against Polymarket Perps than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5627	0.0100	pay 0.0013% / 1h	47m 48s	$54K	$436K	20x
Short	BingX XRP-USDT	1.5631	0.0100	get 0.0100% / 8h	1h 47m	—	$115.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now +0.026%Rate

Funding earned: $0
Price spread: +0.026% → −0.028%: $5.35
Slippage, 4 orders: −$10.01
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$22.66
Costs to cover: 0.280%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 35 min ago; BingX: live order book, 6 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, 35 min ago	2.27 bp	9.2 bp −$9	11.9 bp −$119	doesn't fit	doesn't fit
Sell BingX live order book, 6 min ago	0.96 bp	6.0 bp −$6	6.9 bp −$69	8.2 bp −$822	13.9 bp −$6,931

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	1.5591	−0.230%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5618	−0.055%	$1.1M	$104K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5623	−0.025%	$262K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−2.157%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5631	+0.024%	$15.7M	$67.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0052%	8h	1.5629	+0.013%	$82K	$935K	50x	as long as short
Hibachi XRP/USDT-P	+0.0064%	1h	1.5577	−0.323%	$19K	$73K	7x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0070%	1h	1.5631	+0.026%	$9.6M	$24.9M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0079% / S +0.0146%	1h	1.5622	−0.029%	$925K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5632	+0.032%	$3.0M	$11.7M	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	1.5634	+0.045%	$461K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5631	+0.028%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5623	−0.027%	$39.8M	$74.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5624	−0.019%	$675K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5631	+0.028%	$566.7M	$1.92B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5629	+0.013%	$355.0M	$870.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5628	+0.006%	$128.7M	$868.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5541	−0.550%	$579K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5632	+0.032%	$121K	$724K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5527	−0.640%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5620	−0.045%	$372.5M	$134.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5626	−0.006%	$290.8M	$822.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5618	−0.058%	$112.9M	$153.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5629	+0.013%	$271.3M	$352.7M	125x	as long as short
BingX XRP-USDTshort	+0.0100%	8h	1.5631	+0.026%	—	$115.2M	—
Variational Omni XRP	+0.0100%	8h	1.5524	−0.658%	$11.8M	$29.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5540	−0.557%	$675K	$98.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5571	−0.361%	$1.1M	$41.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5590	−0.237%	$1.0M	$882K	50x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5627	long leg	$54K	$436K	20x
Bullet XRP-USD	+0.0100%	1h	1.5627	0.000%	$42K	$62K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5629	+0.013%	$841K	$71K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5631	+0.023%	$131K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5628	+0.006%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5630	+0.021%	$51.4M	$15.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5629	+0.013%	$55.6M	$28.8M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5611	−0.101%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5618	−0.055%	$487K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5619	−0.051%	$12K	$248K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5619	−0.049%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5627	+0.001%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5634	+0.045%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5626	−0.009%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5635	+0.051%	$5.8M	$46.2M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5596	−0.198%	$24.6M	$71.7M	125x	as long as short
Kalshi KXXRPPERP	+0.0338%	8h	1.5628	+0.006%	$1.9M	$32.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0372%	1h	1.5631	+0.026%	$1.8M	$977K	25x	as long as short
Phoenix XRP	+0.0516%	1h	1.5590	−0.237%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5637	+0.065%	$409K	$530K	10x	as long as short
Aftermath Perps XRPUSD	+0.0585%	1h	1.5572	−0.350%	$1K	$11K	10x	as long as short
Hyperliquid XRP	+0.0656%	1h	1.5638	+0.070%	$289.6M	$195.3M	20x	as long as short