Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0220%/8h= +24.1% APRpaid last 24h +0.067%

Price spread now: Kalshi against dYdX−0.062%7-day average +0.041% · 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−$66as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.247%+$25 on $10k

Price spread, last 7 days+0.018%+$2 · spread now −0.062%, 7d avg +0.041%

Together, before fees+0.265%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.103% cheaper against dYdX than usual: you would sell low and buy high (spread −0.062% now, against its 7-day average of +0.041%). If the spread goes back, that is −$10 on $10k: about 37 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5141	0	get 0.0000% / 1h	50m 36s	$1.1M	$148K	10x
Short	Kalshi KXXRPPERP	1.5132	0.0220	get 0.0220% / 8h	5h 50m	$1.8M	$35.4M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now −0.062%Rate

Funding earned: $46.23
Price spread: −0.062% → +0.041%: −$10.28
Slippage, 4 orders: −$35.61
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$19.67
Costs to cover: 0.556%
Break-even: 10.0 days

Slippage from dYdX: live order book, 4 min ago; Kalshi: live order book, 3 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 dYdX live order book, 4 min ago	11.24 bp	22.1 bp −$22	24.6 bp −$246	31.7 bp −$3,169	78.9 bp −$39.4K
Sell Kalshi live order book, 3 min ago	0.66 bp	6.6 bp −$7	9.5 bp −$95	17.6 bp −$1,763	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	1.5125	−0.108%	$5K	$3K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5141	long leg	$1.1M	$148K	10x
Phoenix XRP	0.0000%	1h	1.5140	−0.009%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5132	−0.061%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5134	−0.052%	$14.4M	$75.3M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.764%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5154	+0.083%	$8K	$8K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0078% / S −0.0025%	1h	1.5133	−0.059%	$797K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5136	−0.036%	$7.7M	$25.1M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5146	+0.031%	$2.8M	$15.1M	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	1.5147	+0.037%	$546K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5146	+0.030%	$12K	$367K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5122	−0.129%	$994K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5143	+0.009%	$38.5M	$87.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5148	+0.045%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5146	+0.033%	$528.4M	$2.23B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5148	+0.043%	$344.5M	$967.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5151	+0.063%	$127.1M	$891.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5129	−0.082%	$563K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5156	+0.096%	$143K	$718K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5129	−0.083%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5150	+0.057%	$372.5M	$158.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5149	+0.050%	$298.8M	$918.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5145	+0.022%	$107.3M	$182.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5147	+0.037%	$266.6M	$399.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5140	−0.009%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5130	−0.075%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5141	−0.001%	$658K	$114.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5155	+0.090%	$1.1M	$36.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5146	+0.030%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5132	−0.064%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5136	−0.036%	$46K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5134	−0.049%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5131	−0.069%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5132	−0.066%	$814K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5134	−0.048%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5133	−0.056%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5151	+0.063%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5132	−0.062%	$54.0M	$32.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5156	+0.097%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5145	+0.027%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5131	−0.072%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0145%	1h	1.5147	+0.037%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0168%	1h	1.5125	−0.110%	$17K	$82K	7x	as long as short
Hyperliquid XRP	+0.0171%	1h	1.5157	+0.103%	$289.1M	$264.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5137	−0.029%	$5.7M	$48.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0219%	1h	1.5130	−0.073%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5137	−0.029%	$23.5M	$77.7M	125x	as long as short
Kalshi KXXRPPERPshort	+0.0220%	8h	1.5132	−0.062%	$1.8M	$35.4M	2.9x
RISEx XRP/USDC	+0.0316%	1h	1.5154	+0.086%	$522K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0562%	1h	1.5143	+0.011%	$2K	$16K	10x	as long as short