Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h −0.067%

Price spread now: dYdX against Kalshi0.000%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$620.621% of the position

Long on Kalshi Short on dYdX

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−0.157%−$16 · spread now 0.000%, 7d avg −0.044%

Together, before fees−0.403%−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.044% dearer against Kalshi than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.044%): +$4 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5336	0.0138	pay 0.0138% / 8h	1h 50m	$1.9M	$35.0M	2.9x
Short	dYdX XRP-USD	1.5336	0	get 0.0000% / 1h	50m 02s	$1.1M	$154K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$28.9
Price spread: 0.000% → −0.044%: $4.39
Slippage, 4 orders: −$42.05
Fee Kalshi: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$86.56
Costs to cover: 0.621%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; dYdX: 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 Kalshi live order book, 2 min ago	1.96 bp	8.2 bp −$8	11.3 bp −$113	19.3 bp −$1,933	doesn't fit
Sell dYdX live order book, 2 min ago	17.60 bp	22.6 bp −$23	27.4 bp −$274	35.4 bp −$3,543	47.2 bp −$23.6K

XRP on 50 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	1.5403	+0.437%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5332	−0.026%	$14.0M	$70.8M	50x	as long as short
dYdX XRP-USDshort	0.0000%	1h	1.5336	0.000%	$1.1M	$154K	10x
Phoenix XRP	0.0000%	1h	1.5360	+0.156%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5333	−0.020%	$7.8M	$21.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5357	+0.135%	$246K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5335	−0.007%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.461%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0045%	1h	1.5329	−0.046%	$29K	$1.5M	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5333	−0.020%	$2.8M	$14.1M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5336	0.000%	$599K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5331	−0.036%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5332	−0.026%	$10K	$401K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5328	−0.055%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5345	+0.061%	$299.1M	$266.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5335	−0.007%	$39.3M	$81.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5329	−0.043%	$593K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5335	−0.007%	$534.9M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5338	+0.013%	$361.8M	$889.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5336	0.000%	$124.8M	$837.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5365	+0.189%	$563K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5338	+0.013%	$165K	$681K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5379	+0.280%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5333	−0.020%	$382.4M	$156.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5333	−0.020%	$313.8M	$889.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5336	−0.002%	$106.2M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5336	0.000%	$272.0M	$357.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5326	−0.065%	—	$4.2M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5345	+0.059%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5325	−0.074%	$5.0M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5351	+0.097%	$668K	$109.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5340	+0.028%	$1.1M	$30.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5358	+0.143%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5339	+0.017%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5340	+0.026%	$52K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5326	−0.064%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5327	−0.059%	$83K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5329	−0.044%	$129K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5319	−0.113%	$49.9M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5335	−0.007%	$54.6M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5330	−0.036%	$2.2M	$6.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5322	−0.091%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0112%	1h	1.5326	−0.067%	$17K	$76K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5332	−0.026%	$5.5M	$44.0M	50x	as long as short
Kalshi KXXRPPERPlong	+0.0138%	8h	1.5336	long leg	$1.9M	$35.0M	2.9x
GMX XRP/USD [ETH-USDC]	L +0.0203% / S −0.0551%	1h	1.5345	+0.057%	$805K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5329	−0.046%	$24.0M	$78.3M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5323	−0.085%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5341	+0.035%	$515K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0431%	1h	1.5361	+0.162%	$3K	$13K	10x	as long as short