Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Derive against Polymarket Perps+0.060%50s7-day average −0.010% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on Derive

What this pair did over the last

the charts below follow

Funding, last 7 days+0.090%+$9 on $10k

Price spread, last 4 days (all we have)−0.586%−$59 · spread now +0.060%, 7d avg −0.010%

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: Derive is 0.070% dearer against Polymarket Perps than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.010%. The two prices were read 50 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	Polymarket Perps XRP-USD	1.5188	0.0100	pay 0.0013% / 1h	29m 24s	$42K	$450K	20x
Short	Derive XRP-PERP	1.5197	0.0100	get 0.0013% / 1h	29m 24s	$818K	$73K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now +0.060%Rate

Funding earned: $0
Price spread: +0.060% → −0.010%: $6.96
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Derive: 3 bp × 2 orders: −$6
Net: −$7.04
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 33 min ago; Derive: no order-book sample. Net counts fees only.

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, 33 min ago	0.99 bp	8.0 bp −$8	11.0 bp −$110	doesn't fit	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5187	−0.007%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	+0.003%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5183	−0.035%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.449%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0043%	1h	1.5183	−0.035%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5181	−0.046%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5179	−0.059%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5204	+0.105%	$7.7M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5186	−0.011%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5189	+0.007%	$513K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5172	−0.105%	$10K	$309K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5183	−0.036%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5197	+0.059%	$281.6M	$221.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5187	−0.004%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5187	−0.007%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5185	−0.022%	$538.3M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5184	−0.026%	$344.8M	$927.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5181	−0.046%	$126.0M	$868.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5171	−0.112%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5187	−0.007%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.210%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5183	−0.033%	$370.1M	$152.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5187	−0.007%	$292.1M	$898.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5181	−0.046%	$108.5M	$171.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5185	−0.020%	$268.1M	$380.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5186	−0.013%	—	$126.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5198	+0.068%	$5.8M	$36.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.075%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5214	+0.170%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	+0.132%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5190	+0.016%	—	$11K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5188	long leg	$42K	$450K	20x
Bullet XRP-USD	+0.0100%	1h	1.5185	−0.020%	$41K	$68K	20x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5197	+0.060%	$818K	$73K	10x
SunX XRP-USDT	+0.0100%	8h	1.5207	+0.122%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5201	+0.086%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5202	+0.090%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	+0.092%	$54.1M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	−0.001%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5181	−0.045%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5198	+0.066%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5208	+0.132%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5184	−0.027%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5202	+0.092%	$5.6M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	+0.138%	$24.2M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5198	+0.067%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0272%	1h	1.5199	+0.071%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5217	+0.191%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5187	−0.008%	$517K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.013%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0680%	1h	1.5182	−0.038%	$2K	$14K	10x	as long as short