Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0082%/8h= +9.0% APRpaid last 24h −0.002%

Price spread now: Kalshi against Coinbase International+0.039%7-day average +0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.027%+$3 on $10k

Price spread, last 3 days (all we have)+0.003%$0 · spread now +0.039%, 7d avg +0.010%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.029% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5374	0.0224	pay 0.0028% / 1h	21m 40s	$5.8M	$47.2M	50x
Short	Kalshi KXXRPPERP	1.5380	0.0306	get 0.0306% / 8h	4h 21m	$2.0M	$34.4M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Coinbase International. 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 Coinbase InternationalbpFee KalshibpOrdersPrice spread, now +0.039%Rate

Funding earned: $17.29
Price spread: +0.039% → +0.010%: $2.87
Slippage, 4 orders: −$15.62
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$15.46
Costs to cover: 0.356%
Break-even: 13.3 days

Slippage from Coinbase International: live order book, 2 min ago; Kalshi: live order book, 2 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 Coinbase International live order book, 2 min ago	0.32 bp	8.9 bp −$9	10.6 bp −$106	23.9 bp −$2,395	doesn't fit
Sell Kalshi live order book, 2 min ago	2.93 bp	11.3 bp −$11	13.1 bp −$131	20.2 bp −$2,018	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	1.5365	−0.059%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5358	−0.104%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5380	+0.039%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5370	−0.027%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0097%	1h	1.5371	−0.022%	$831K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5367	−0.046%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5368	−0.041%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5374	0.000%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.210%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5360	−0.090%	$2.9M	$13.0M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5363	−0.072%	$439K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5385	+0.075%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5362	−0.081%	$39.1M	$81.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5362	−0.078%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5360	−0.093%	$547.0M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5359	−0.098%	$341.8M	$924.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5359	−0.098%	$125.3M	$879.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	−0.189%	$572K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5365	−0.059%	$117K	$758K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.234%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5356	−0.117%	$361.2M	$147.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5360	−0.091%	$296.1M	$887.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5358	−0.105%	$110.1M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5356	−0.117%	$267.4M	$375.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5360	−0.091%	—	$121.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.070%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5367	−0.046%	$667K	$104.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.188%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5357	−0.111%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5375	+0.010%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5390	+0.104%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5376	+0.013%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5371	−0.018%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5376	+0.012%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5367	−0.046%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5369	−0.031%	$50.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5368	−0.039%	$54.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5359	−0.096%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5366	−0.052%	$12K	$269K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5356	−0.119%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5370	−0.027%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5367	−0.046%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5373	−0.008%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	−0.046%	$24.3M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0224%	1h	1.5374	long leg	$5.8M	$47.2M	50x
Backpack XRP_USDC_PERP	+0.0259%	1h	1.5378	+0.026%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5364	−0.062%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERPshort	+0.0306%	8h	1.5380	+0.039%	$2.0M	$34.4M	2.9x
Hyperliquid XRP	+0.0588%	1h	1.5377	+0.020%	$293.2M	$213.0M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5374	−0.001%	$500K	$638K	10x	as long as short
Aftermath Perps XRPUSD	+0.0784%	1h	1.5392	+0.119%	$1K	$11K	10x	as long as short