Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.021%

Price spread now: Kalshi against Aevo+0.035%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kalshi is 0.035% dearer against Aevo than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.012% in total (about 0.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XRP-PERP	1.5189	0.0104	pay 0.0013% / 1h	9m 03s	$58K	$25K	3x
Short	Kalshi KXXRPPERP	1.5194	0.0344	get 0.0344% / 8h	1h 09m	$2.1M	$34.7M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now +0.035%Rate

Funding earned: $50.34
Price spread: +0.035% → 0.000%: $3.47
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $27.81
Costs to cover: 0.260%
Break-even: 3.1 days

Slippage unknown: Aevo: no order-book sample; Kalshi: live order book, 5 min ago. 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 Aevo no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 5 min ago	0.66 bp	10.3 bp −$10	12.3 bp −$123	18.4 bp −$1,843	doesn't fit

Aevo: 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	1.5192	+0.022%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5184	−0.031%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5192	+0.022%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5189	+0.002%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.444%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0037%	1h	1.5190	+0.005%	$796K	—	200x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5186	−0.018%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5188	−0.005%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5190	+0.011%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5190	+0.008%	$512K	$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	1.5182	−0.044%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5185	−0.021%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5195	+0.041%	$282.4M	$223.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5189	+0.002%	$38.4M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5189	+0.001%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5181	−0.049%	$536.2M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5182	−0.044%	$346.4M	$930.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5185	−0.025%	$126.0M	$872.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5180	−0.057%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5190	+0.008%	$114K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.226%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5183	−0.038%	$368.7M	$153.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5185	−0.025%	$297.0M	$903.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5191	+0.012%	$109.0M	$171.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5183	−0.038%	$269.5M	$381.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5185	−0.025%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5200	+0.071%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5202	+0.086%	$660K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5227	+0.252%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5221	+0.212%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5192	+0.024%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5187	−0.011%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5192	+0.022%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5189	+0.004%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5193	+0.028%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5189	+0.002%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5189	0.000%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5188	−0.005%	$54.0M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	−0.004%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5185	−0.028%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERPlong	+0.0104%	1h	1.5189	long leg	$58K	$25K	3x
Backpack XRP_USDC_PERP	+0.0186%	1h	1.5193	+0.028%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5207	+0.118%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5186	−0.020%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5195	+0.041%	$5.6M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5191	+0.015%	$24.3M	$75.5M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5187	−0.009%	$14.4M	$73.3M	50x	as long as short
Kalshi KXXRPPERPshort	+0.0344%	8h	1.5194	+0.035%	$2.1M	$34.7M	2.9x
RISEx XRP/USDC	+0.0484%	1h	1.5191	+0.018%	$517K	$778K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	+0.206%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0657%	1h	1.5210	+0.143%	$2K	$14K	10x	as long as short