Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0433%/8h= −47.4% APRpaid last 24h −0.131%

Price spread now: GMX against Kalshi−0.024%7-day average −0.008% · you buy dearer than you sell

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

Long on Kalshi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.297%−$30 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.024%, 7d avg −0.008%

Together, before fees−0.233%−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5526	0.0320	pay 0.0320% / 8h	5h 06m	$1.9M	$33.2M	2.9x
Short	GMX XRP/USD [ETH-USDC]	1.5522	L +0.0001% / S +0.0113%	pay 0.0014% / 1h	6m 15s	$853K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$90.85
Price spread: −0.024% → −0.008%: −$1.61
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$114.45
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 3 min ago; GMX: no order-book sample. 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 Kalshi live order book, 3 min ago	1.93 bp	8.8 bp −$9	12.5 bp −$125	19.1 bp −$1,913	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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-PERP	−0.0080%	1h	1.5513	−0.084%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5506	−0.126%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5521	−0.032%	$9.5M	$25.1M	50x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0001% / S +0.0113%	1h	1.5522	−0.024%	$853K	—	200x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5521	−0.032%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.219%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5519	−0.047%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0055%	8h	1.5521	−0.032%	$76K	$909K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5517	−0.057%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5520	−0.039%	$443K	$3.2M	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	1.5520	−0.041%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5524	−0.014%	$39.5M	$79.1M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5518	−0.053%	$639K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5516	−0.064%	$558.3M	$1.99B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5516	−0.064%	$346.3M	$903.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5513	−0.084%	$127.8M	$881.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5467	−0.380%	$576K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5522	−0.026%	$119K	$746K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5501	−0.159%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5514	−0.077%	$363.6M	$143.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5515	−0.071%	$300.0M	$868.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5515	−0.069%	$113.1M	$161.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5515	−0.071%	$271.0M	$366.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5516	−0.064%	—	$119.8M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5501	−0.158%	$11.8M	$30.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5508	−0.115%	$673K	$101.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5513	−0.083%	$1.1M	$41.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5507	−0.122%	$1.0M	$884K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5526	0.000%	$46K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5524	−0.011%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5523	−0.020%	$836K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5526	−0.003%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5520	−0.039%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5517	−0.056%	$51.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5517	−0.058%	$55.2M	$29.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5514	−0.079%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5517	−0.059%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5519	−0.045%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5517	−0.056%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5520	−0.041%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5527	+0.006%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5521	−0.035%	$1.4M	$8K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5529	+0.019%	$6.0M	$47.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5499	−0.174%	$24.6M	$73.6M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5494	−0.204%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0294%	1h	1.5525	−0.006%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERPlong	+0.0320%	8h	1.5526	long leg	$1.9M	$33.2M	2.9x
Phoenix XRP	+0.0516%	1h	1.5500	−0.167%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5534	+0.053%	$509K	$631K	10x	as long as short
Hyperliquid XRP	+0.0581%	1h	1.5533	+0.045%	$290.4M	$204.6M	20x	as long as short
Aftermath Perps XRPUSD	+0.0770%	1h	1.5520	−0.040%	$1K	$11K	10x	as long as short