Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.009%

Price spread now: Orderly against Polymarket Perps0.000%7-day average −0.017% · you sell dearer than you buy

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

Long on Polymarket Perps Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)−0.223%−$22 · spread now 0.000%, 7d avg −0.017%

Together, before fees−0.249%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5163	0.0100	pay 0.0013% / 1h	37m 50s	$44K	$453K	20x
Short	Orderly PERP_XRP_USDC	1.5163	0.0081	get 0.0081% / 8h	4h 37m	$62K	$935K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now 0.000%Rate

Funding earned: −$4.03
Price spread: 0.000% → −0.017%: $1.67
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$16.36
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 20 min ago; Orderly: 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, 20 min ago	2.31 bp	6.9 bp −$7	9.3 bp −$93	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	1.5148	−0.099%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5159	−0.025%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5146	−0.112%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−0.086%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5160	−0.018%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5165	+0.013%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.618%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0040% / S +0.0030%	1h	1.5160	−0.017%	$789K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5159	−0.026%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDCshort	+0.0081%	8h	1.5163	0.000%	$62K	$935K	50x

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5159	−0.026%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5160	−0.020%	$510K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5153	−0.066%	$10K	$324K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5164	+0.010%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5169	+0.040%	$281.7M	$225.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5161	−0.013%	$38.3M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5149	−0.091%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5162	−0.007%	$534.2M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5164	+0.007%	$345.0M	$931.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5160	−0.020%	$125.9M	$875.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5175	+0.079%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5107	−0.369%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5146	−0.114%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5161	−0.013%	$370.0M	$153.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5159	−0.026%	$289.8M	$897.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5163	−0.001%	$108.0M	$173.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5160	−0.020%	$267.9M	$384.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5162	−0.007%	—	$126.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5148	−0.101%	$5.4M	$37.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5151	−0.078%	$658K	$108.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5180	+0.112%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5149	−0.092%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5163	long leg	$44K	$453K	20x
Bullet XRP-USD	+0.0100%	1h	1.5161	−0.011%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5166	+0.017%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5165	+0.015%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5161	−0.013%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5159	−0.024%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5158	−0.033%	$54.1M	$30.6M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5148	−0.099%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5162	−0.010%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5155	−0.055%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5164	+0.006%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5152	−0.070%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0164%	1h	1.5171	+0.053%	$1.9M	$1.3M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5170	+0.046%	$5.6M	$47.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5161	−0.012%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5141	−0.145%	$24.1M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5152	−0.073%	$2.1M	$34.5M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5159	−0.028%	$516K	$779K	10x	as long as short
Aftermath Perps XRPUSD	+0.0658%	1h	1.5155	−0.050%	$2K	$15K	10x	as long as short