XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0177%/8h= −19.4% APRnext payment −$1.77 per $10,000 · paid last 24h −0.037%

Price spread now: Phemex against Kalshi−0.066%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now −0.066%, 7d avg −0.035%

Together, before fees−0.185%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.031% cheaper against Kalshi than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5195	0.0277	pay 0.0277% / 8h	7h 20m	$1.9M	$35.2M	2.9x
Short	Phemex XRPUSDT	1.5185	0.0100	get 0.0100% / 8h	3h 20m	$54.0M	$31.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.066%Rate

Funding earned: −$37.17
Price spread: −0.066% → −0.035%: −$3.07
Slippage, 4 orders: −$16.26
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$78.5
Costs to cover: 0.383%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; Phemex: live order book, 4 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, 4 min ago	1.98 bp	10.9 bp −$11	12.4 bp −$124	18.9 bp −$1,886	doesn't fit
Sell Phemex live order book, 4 min ago	0.66 bp	7.5 bp −$7	11.4 bp −$114	22.1 bp −$2,207	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	1.5188	−0.046%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5179	−0.107%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5193	−0.013%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5184	−0.072%	$259K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5192	−0.018%	$14.5M	$74.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.402%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5184	−0.075%	$779K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5177	−0.117%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5173	−0.145%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5178	−0.112%	$9K	$350K	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	1.5185	−0.063%	$985K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5183	−0.082%	$38.8M	$85.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5181	−0.090%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5187	−0.053%	$536.3M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5189	−0.039%	$345.6M	$945.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5182	−0.086%	$126.5M	$884.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5187	−0.053%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5190	−0.033%	$138K	$720K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	−0.201%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5185	−0.066%	$372.5M	$156.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5184	−0.072%	$295.7M	$906.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5185	−0.066%	$109.4M	$177.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5183	−0.079%	$269.6M	$390.2M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5183	−0.079%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5187	−0.054%	$4.9M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5162	−0.216%	$658K	$110.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5166	−0.193%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5170	−0.165%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5182	−0.087%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5186	−0.059%	$46K	$478K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5183	−0.079%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5188	−0.046%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5189	−0.042%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5192	−0.019%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5189	−0.039%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5186	−0.058%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5185	−0.066%	$54.0M	$31.2M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5189	−0.039%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5182	−0.084%	$2.0M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5187	−0.055%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5190	−0.033%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5196	+0.007%	$5.8M	$48.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5182	−0.084%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5181	−0.092%	$24.2M	$75.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0258%	1h	1.5183	−0.079%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5191	−0.029%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERPlong	+0.0277%	8h	1.5195	long leg	$1.9M	$35.2M	2.9x
RISEx XRP/USDC	+0.0358%	1h	1.5187	−0.054%	$517K	$776K	10x	as long as short
Hyperliquid XRP	+0.0413%	1h	1.5196	+0.007%	$298.8M	$251.0M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	−0.033%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0644%	1h	1.5187	−0.056%	$2K	$15K	10x	as long as short