Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0239%/8h= +26.2% APRpaid last 24h +0.022%

Price spread now: Kalshi against ApeX Omni−0.119%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 7 days+0.189%+$19 · spread now −0.119%, 7d avg +0.013%

Together, before fees+0.191%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.131% cheaper against ApeX Omni than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of +0.013%). If the spread goes back, that is −$13 on $10k: about 44 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.002% in total) that is about 17 months.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.002% in total (about 0.1% 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	ApeX Omni XRPUSDT	1.5189	0.0100	pay 0.0013% / 1h	5m 24s	$1.2M	$1.0M	50x
Short	Kalshi KXXRPPERP	1.5171	0.0339	get 0.0339% / 8h	1h 05m	$2.1M	$34.6M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now −0.119%Rate

Funding earned: $50.28
Price spread: −0.119% → +0.013%: −$13.12
Slippage, 4 orders: −$17.49
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$0.33
Costs to cover: 0.375%
Break-even: 7.0 days

Slippage from ApeX Omni: live order book, 4 min ago; Kalshi: live order book, 4 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 ApeX Omni live order book, 4 min ago	1.32 bp	6.7 bp −$7	11.2 bp −$112	doesn't fit	doesn't fit
Sell Kalshi live order book, 4 min ago	1.98 bp	8.4 bp −$8	11.2 bp −$112	18.8 bp −$1,882	doesn't fit

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	1.5156	−0.217%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5145	−0.287%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5152	−0.244%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5149	−0.262%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0036%	1h	1.5150	−0.256%	$832K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.443%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0056%	1h	1.5162	−0.178%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5150	−0.257%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5150	−0.257%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5153	−0.237%	$510K	$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	1.5159	−0.198%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5159	−0.194%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5172	−0.113%	$281.8M	$223.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5155	−0.226%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5152	−0.244%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	−0.245%	$535.0M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5152	−0.244%	$345.4M	$930.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5151	−0.250%	$125.7M	$871.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5169	−0.132%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5160	−0.191%	$114K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.224%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5155	−0.224%	$368.2M	$154.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5159	−0.198%	$297.4M	$904.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5160	−0.190%	$108.6M	$172.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5148	−0.270%	$268.9M	$381.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5149	−0.263%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5154	−0.233%	$5.9M	$36.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5173	−0.107%	$659K	$107.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5183	−0.040%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDTlong	+0.0100%	1h	1.5189	long leg	$1.2M	$1.0M	50x
Vest XRP-PERP	+0.0100%	1h	1.5160	−0.192%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5161	−0.184%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5159	−0.198%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5151	−0.248%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5157	−0.211%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5156	−0.217%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5161	−0.183%	$49.6M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5161	−0.184%	$53.9M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5152	−0.243%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5145	−0.292%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5149	−0.263%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0178%	1h	1.5166	−0.151%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5161	−0.183%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5158	−0.204%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5159	−0.198%	$5.6M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5179	−0.066%	$24.2M	$75.6M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5159	−0.198%	$14.3M	$73.3M	50x	as long as short
Kalshi KXXRPPERPshort	+0.0339%	8h	1.5171	−0.119%	$2.1M	$34.6M	2.9x
RISEx XRP/USDC	+0.0484%	1h	1.5165	−0.157%	$516K	$780K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.007%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0656%	1h	1.5186	−0.019%	$2K	$14K	10x	as long as short