XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0168%/8h= +18.4% APRnext payment +$0.21 per $10,000 · paid last 24h +0.090%

Price spread now: Hyperliquid against Polymarket Perps−0.065%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

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

Long on Polymarket Perps Short on Hyperliquid

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)−0.504%−$50 · spread now −0.065%, 7d avg +0.043%

Together, before fees−0.317%+ Points / potential airdropHyperliquid: Season 2 · farm board−$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.108% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread −0.065% now, against its 7-day average of +0.043%). If the spread goes back, that is −$11 on $10k: about 2.1 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5442	0.0100	pay 0.0013% / 1h	55m 54s	$53K	$480K	20x
Short	Hyperliquid XRP	1.5432	0.0268	get 0.0033% / 1h	55m 54s	$298.3M	$266.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.065%Rate

Funding earned: $35.19
Price spread: −0.065% → +0.043%: −$10.78
Slippage, 4 orders: −$32.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$25.51
Costs to cover: 0.499%
Break-even: 12.1 days

Slippage from Polymarket Perps: live order book, 22 min ago; Hyperliquid: live order book, 8 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, 22 min ago	1.96 bp	26.8 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.32 bp	4.8 bp −$5	5.4 bp −$54	8.5 bp −$851	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	1.5445	+0.019%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5437	−0.033%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5490	+0.311%	$70K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5432	−0.065%	$8.0M	$22.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	+0.237%	$251K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5425	−0.107%	$14.1M	$73.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.764%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0072%	1h	1.5438	−0.023%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5431	−0.074%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5428	−0.091%	$621K	$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	1.5438	−0.026%	$17K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5453	+0.072%	$482K	$51K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5435	−0.042%	$993K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5402	−0.256%	$39.1M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5442	+0.001%	$610K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5401	−0.266%	$537.3M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5397	−0.291%	$358.2M	$906.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5389	−0.343%	$126.2M	$849.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5434	−0.052%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5444	+0.013%	$167K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5425	−0.113%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5402	−0.259%	$385.0M	$155.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5405	−0.240%	$308.2M	$895.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5404	−0.244%	$109.4M	$180.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5406	−0.233%	$272.8M	$360.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5405	−0.240%	—	$105.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5429	−0.081%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5462	+0.130%	$672K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5484	+0.269%	$1.1M	$32.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5492	+0.324%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5444	+0.013%	—	$15K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5442	long leg	$53K	$480K	20x
Bullet XRP-USD	+0.0100%	1h	1.5440	−0.015%	$42K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5437	−0.032%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5430	−0.080%	$130K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5426	−0.104%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5426	−0.104%	$50.3M	$14.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5423	−0.123%	$54.8M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5400	−0.273%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5441	−0.008%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5440	−0.013%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5427	−0.097%	$5.3M	$45.8M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0145% / S −0.0112%	1h	1.5436	−0.042%	$827K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0170%	8h	1.5451	+0.058%	$1.7M	$32.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0190%	1h	1.5428	−0.091%	$2.0M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5443	+0.006%	$23.8M	$79.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5420	−0.143%	$1.4M	$4K	15x	as long as short
Hyperliquid XRPshort	+0.0268%	1h	1.5432	−0.065%	$298.3M	$266.9M	20x
RISEx XRP/USDC	+0.0272%	1h	1.5442	+0.003%	$516K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0488%	1h	1.5458	+0.104%	$3K	$15K	10x	as long as short