Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0379%/8h= +41.5% APRpaid last 24h +0.076%

Price spread now: Kalshi against Hotstuff+0.266%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kalshi is 0.266% dearer against Hotstuff than usual: you sell high and buy low: +$27 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff XRP-PERP	1.5416	−0.0080	get 0.0010% / 1h	8m 26s	$7K	$2K	20x
Short	Kalshi KXXRPPERP	1.5457	0.0299	get 0.0299% / 8h	6h 08m	$1.8M	$32.0M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hotstuff. 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 HotstuffbpFee KalshibpOrdersPrice spread, now +0.266%Rate

Funding earned: $79.52
Price spread: +0.266% → 0.000%: $26.6
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $91.12
Costs to cover: 0.150%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; Kalshi: live order book, 6 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 6 min ago	2.26 bp	9.8 bp −$10	11.9 bp −$119	18.8 bp −$1,877	doesn't fit

Hotstuff: 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-PERPlong	−0.0080%	1h	1.5416	long leg	$7K	$2K	20x
dYdX XRP-USD	0.0000%	1h	1.5422	+0.039%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	+0.221%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5433	+0.110%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5410	−0.037%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−0.817%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5415	−0.006%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0168%	1h	1.5410	−0.041%	$907K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5424	+0.054%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5422	+0.039%	$446K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5422	+0.042%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5414	−0.010%	$39.3M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5419	+0.020%	$674K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5412	−0.025%	$554.5M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5413	−0.019%	$346.6M	$852.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5411	−0.032%	$126.1M	$847.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5409	−0.045%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5423	+0.045%	$119K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.360%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5410	−0.039%	$368.1M	$133.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5412	−0.026%	$293.0M	$821.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5412	−0.024%	$112.2M	$149.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5413	−0.019%	$267.0M	$346.5M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5410	−0.039%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5487	+0.461%	$6.7M	$24.7M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5464	+0.309%	$671K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5471	+0.359%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5489	+0.474%	$1.0M	$878K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5416	+0.001%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5416	0.000%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5412	−0.025%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5432	+0.102%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5450	+0.223%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5429	+0.084%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5420	+0.029%	$50.8M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5415	−0.006%	$55.1M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5414	−0.010%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5417	+0.006%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5413	−0.020%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5431	+0.100%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5421	+0.032%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5427	+0.071%	$15.7M	$65.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5440	+0.156%	$5.6M	$45.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0200%	1h	1.5421	+0.032%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5412	−0.025%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5429	+0.084%	$24.2M	$68.5M	125x	as long as short
Hibachi XRP/USDT-P	+0.0296%	1h	1.5481	+0.422%	$19K	$66K	7x	as long as short
Kalshi KXXRPPERPshort	+0.0299%	8h	1.5457	+0.266%	$1.8M	$32.0M	2.9x
RISEx XRP/USDC	+0.0431%	1h	1.5426	+0.062%	$405K	$499K	10x	as long as short
Hyperliquid XRP	+0.0507%	1h	1.5431	+0.097%	$284.4M	$190.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0544%	1h	1.5436	+0.132%	$1K	$11K	10x	as long as short