Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.037%

Price spread now: Kalshi against ApeX Omni+0.119%78s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.350% of the position

Long on ApeX Omni Short on Kalshi

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−0.055%−$5 · spread now +0.119%, 7d avg +0.011%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kalshi is 0.107% dearer against ApeX Omni than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.011%. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XRPUSDT	1.5138	0.0100	pay 0.0013% / 1h	3m 37s	$1.2M	$1.1M	50x
Short	Kalshi KXXRPPERP	1.5156	0.0184	get 0.0184% / 8h	7h 03m	$1.8M	$35.4M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now +0.119%Rate

Funding earned: $17.7
Price spread: +0.119% → +0.011%: $10.74
Slippage, 4 orders: −$15.04
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$6.6
Costs to cover: 0.350%
Break-even: 9.6 days

Slippage from ApeX Omni: live order book, just now; Kalshi: live order book, 5 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 ApeX Omni live order book, just now	4.29 bp	9.3 bp −$9	13.4 bp −$134	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	2.32 bp	8.5 bp −$9	12.9 bp −$129	20.7 bp −$2,074	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	1.5147	+0.059%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5114	−0.158%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5142	+0.023%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5147	+0.059%	$7.7M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5143	+0.033%	$14.3M	$74.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.788%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5142	+0.024%	$795K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5113	−0.163%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5137	−0.007%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5144	+0.040%	$10K	$355K	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	1.5151	+0.089%	$979K	$6.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5110	−0.185%	$38.9M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5114	−0.160%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5109	−0.192%	$531.3M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5110	−0.185%	$342.9M	$948.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5112	−0.172%	$125.0M	$884.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5150	+0.079%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5119	−0.126%	$137K	$722K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	+0.003%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5111	−0.178%	$372.7M	$158.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5109	−0.192%	$293.3M	$910.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5111	−0.178%	$108.9M	$178.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5110	−0.185%	$268.2M	$391.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5111	−0.178%	—	$128.0M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5147	+0.058%	$4.8M	$38.3M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5113	−0.162%	$656K	$111.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5150	+0.079%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDTlong	+0.0100%	1h	1.5138	long leg	$1.2M	$1.1M	50x
Polymarket Perps XRP-USD	+0.0100%	1h	1.5156	+0.119%	$49K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5143	+0.035%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5141	+0.020%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5142	+0.028%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5158	+0.130%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5143	+0.033%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5152	+0.090%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5146	+0.053%	$53.9M	$31.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5111	−0.176%	$471K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5152	+0.093%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5105	−0.216%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5140	+0.013%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5153	+0.099%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5148	+0.066%	$5.7M	$48.2M	50x	as long as short
Kalshi KXXRPPERPshort	+0.0184%	8h	1.5156	+0.119%	$1.8M	$35.4M	2.9x
Reya XRPRUSDPERP	+0.0217%	1h	1.5148	+0.066%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5154	+0.106%	$24.2M	$75.8M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0234%	1h	1.5157	+0.126%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5150	+0.081%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5114	−0.157%	$515K	$777K	10x	as long as short
Hyperliquid XRP	+0.0363%	1h	1.5150	+0.079%	$290.6M	$255.9M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5150	+0.079%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0630%	1h	1.5149	+0.072%	$2K	$15K	10x	as long as short