Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0202%/8h= +22.2% APRpaid last 24h +0.021%

Price spread now: Kalshi against Extended+0.147%7-day average +0.084% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$260.263% of the position

Long on Extended Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 7 days−0.032%−$3 · spread now +0.147%, 7d avg +0.084%

Together, before fees−0.038%+ Points / potential airdropExtended: Active · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kalshi is 0.064% dearer against Extended than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.084%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.007% in total (about -0.4% 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	Extended XRP-USD	1.5357	0.0104	pay 0.0013% / 1h	21m 50s	$2.1M	$7.2M	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 Extended. 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 ExtendedbpFee KalshibpOrdersPrice spread, now +0.147%Rate

Funding earned: $42.49
Price spread: +0.147% → +0.084%: $6.36
Slippage, 4 orders: −$11.28
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $22.57
Costs to cover: 0.263%
Break-even: 3.3 days

Slippage from Extended: 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 Extended live order book, 2 min ago	0.32 bp	2.8 bp −$3	4.9 bp −$49	doesn't fit	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	+0.049%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5365	+0.049%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5380	+0.147%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5370	+0.081%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0006% / S +0.0097%	1h	1.5371	+0.086%	$831K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5367	+0.062%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5368	+0.067%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5374	+0.108%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.319%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5368	+0.069%	$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	1.5369	+0.075%	$439K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5385	+0.183%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5363	+0.037%	$39.1M	$81.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5370	+0.083%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5362	+0.033%	$547.1M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5363	+0.036%	$341.8M	$924.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5362	+0.030%	$125.3M	$879.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5345	−0.081%	$573K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5378	+0.134%	$117K	$758K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	+0.342%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5360	+0.017%	$361.3M	$147.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5360	+0.017%	$295.9M	$887.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5363	+0.038%	$110.2M	$165.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5360	+0.017%	$267.5M	$375.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5362	+0.030%	—	$121.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5385	+0.178%	$11.4M	$30.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5367	+0.062%	$667K	$104.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5403	+0.296%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5357	−0.003%	$1.0M	$900K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5375	+0.118%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5390	+0.212%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5376	+0.122%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5371	+0.090%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5376	+0.120%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5367	+0.062%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5369	+0.077%	$50.5M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5368	+0.069%	$54.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5371	+0.089%	$479K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5379	+0.141%	$12K	$269K	20x	as long as short
Extended XRP-USDlong	+0.0104%	1h	1.5357	long leg	$2.1M	$7.2M	50x
Aevo XRP-PERP	+0.0104%	1h	1.5370	+0.081%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5387	+0.193%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5373	+0.100%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	+0.062%	$24.3M	$74.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5374	+0.108%	$5.8M	$47.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0259%	1h	1.5378	+0.134%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-P	+0.0264%	1h	1.5364	+0.046%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERPshort	+0.0306%	8h	1.5380	+0.147%	$2.0M	$34.4M	2.9x
Hyperliquid XRP	+0.0588%	1h	1.5377	+0.128%	$293.2M	$213.0M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5392	+0.225%	$500K	$638K	10x	as long as short
Aftermath Perps XRPUSD	+0.0784%	1h	1.5392	+0.228%	$1K	$11K	10x	as long as short