Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0017%/8h= −1.9% APRpaid last 24h −0.037%

Price spread now: ApeX Omni against Kalshi−0.196%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$420.419% of the position

Long on Kalshi Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.196%, 7d avg −0.009%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and ApeX Omni is 0.187% cheaper against Kalshi than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5317	0.0117	pay 0.0117% / 8h	1h 06m	$1.9M	$35.4M	2.9x
Short	ApeX Omni XRPUSDT	1.5287	0.0100	get 0.0013% / 1h	6m 30s	$1.2M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now −0.196%Rate

Funding earned: −$3.64
Price spread: −0.196% → −0.009%: −$18.7
Slippage, 4 orders: −$21.89
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$64.23
Costs to cover: 0.419%
Break-even: never at this rate

Slippage from Kalshi: live order book, 6 min ago; ApeX Omni: live order book, 1 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 Kalshi live order book, 6 min ago	2.29 bp	11.2 bp −$11	12.4 bp −$124	18.5 bp −$1,853	doesn't fit
Sell ApeX Omni live order book, 1 min ago	4.24 bp	10.5 bp −$11	15.5 bp −$155	doesn't fit	doesn't fit

XRP on 51 exchanges

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	1.5395	+0.509%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5322	+0.030%	$13.8M	$69.3M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5317	0.000%	$1.1M	$154K	10x	as long as short
01 Exchange XRPUSD	0.0000%	1h	1.5331	+0.091%	$9K	$987	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5290	−0.176%	$68K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5318	+0.007%	$7.7M	$20.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5296	−0.136%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.586%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0088%	1h	1.5283	−0.222%	$17K	$70K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5323	+0.039%	$2.8M	$14.2M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5328	+0.072%	$599K	$3.2M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5324	+0.046%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5322	+0.033%	$10K	$410K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5321	+0.028%	$838K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5335	+0.118%	$297.4M	$264.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5327	+0.064%	$38.9M	$79.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5325	+0.052%	$589K	$987K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5329	+0.078%	$533.1M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5327	+0.065%	$361.3M	$860.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5328	+0.072%	$124.1M	$824.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5267	−0.326%	$562K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5330	+0.085%	$163K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5282	−0.228%	$1.6M	$66K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5324	+0.046%	$377.7M	$161.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5322	+0.033%	$316.3M	$908.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5322	+0.035%	$104.9M	$180.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5323	+0.039%	$271.3M	$350.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5318	+0.007%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5273	−0.290%	$4.9M	$38.0M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5277	−0.258%	$664K	$106.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5299	−0.117%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDTshort	+0.0100%	1h	1.5287	−0.196%	$1.2M	$1.2M	50x
Vest XRP-PERP	+0.0100%	1h	1.5310	−0.048%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5312	−0.033%	$52K	$470K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5312	−0.033%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5315	−0.013%	$83K	$601K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5303	−0.092%	$823K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5321	+0.024%	$128K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5316	−0.007%	$32K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5299	−0.117%	$49.9M	$13.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5316	−0.007%	$54.6M	$33.1M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5317	−0.003%	$2.2M	$6.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5311	−0.040%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5320	+0.020%	$5.5M	$42.6M	50x	as long as short
Kalshi KXXRPPERPlong	+0.0117%	8h	1.5317	long leg	$1.9M	$35.4M	2.9x
Backpack XRP_USDC_PERP	+0.0152%	1h	1.5329	+0.078%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5313	−0.026%	$23.7M	$77.5M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5295	−0.146%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5333	+0.102%	$507K	$723K	10x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0244% / S −0.0469%	1h	1.5316	−0.006%	$885K	—	200x	as long as short
Aftermath Perps XRPUSD	+0.0364%	1h	1.5292	−0.162%	$3K	$13K	10x	as long as short