Funding you earn now, next payment 02:00 UTC+0.0019%/8h= +2.1% APRpaid last 24h +0.001%
Price spread now: Kalshi against Backpack−0.106%7-day average +0.123% · you buy dearer than you sell
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$54as in the Price arb table
costs, in and out, $10k−$320.316% of the position
Funding, last 7 days−0.030%−$3 on $10k
+Price spread, last 7 days+0.769%+$77 · spread now −0.106%, 7d avg +0.123%
=Funding pays, the price is against you. Kalshi is 0.229% cheaper against Backpack than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of +0.123%). If the spread goes back, that is −$23 on $10k: about 40 days of funding at the current rate (+$1 a day).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack XRP_USDC_PERP | 1.5156 | 0.0342 | pay 0.0043% / 1h | 18m 19s | $1.9M | $1.3M | 25x |
| Short | Kalshi KXXRPPERP | 1.5140 | 0.0361 | get 0.0361% / 8h | 2h 18m | $2.1M | $35.7M | 2.9x |
Backpack XRP_USDC_PERP
Kalshi KXXRPPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $4.01
- Price spread: −0.106% → +0.123%
- −$22.88
- Slippage, 4 orders
- −$11.57
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$50.44
- Costs to cover
- 0.316%
- Break-even
- 95.1 days
Slippage from Backpack: live order book, 1 min ago; Kalshi: live order book, 6 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 Backpack live order book, 1 min ago | 0.33 bp | 5.3 bp −$5 | 6.8 bp −$68 | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 6 min ago | 4.28 bp | 11.6 bp −$12 | 14.0 bp −$140 | 22.4 bp −$2,241 | doesn't fit |
XRP on 50 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 | 1.5146 | −0.066% | $5K | $3K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5152 | −0.029% | $1.1M | $110K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5170 | +0.092% | $67K | $110K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5143 | −0.088% | $253K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0022% / S +0.0057% | 1h | 1.5141 | −0.101% | $800K | — | 200x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.666% | $2K | $107K | 30x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0040% | 1h | 1.5143 | −0.084% | $14.5M | $72.7M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0072% | 8h | 1.5139 | −0.112% | $62K | $953K | 50x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0080% | 1h | 1.5146 | −0.066% | $7.6M | $25.3M | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5158 | +0.012% | $2.8M | $14.3M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Injective XRP/USDC PERP
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Deribit XRP_USDC-PERPETUAL
Lighter XRPShow all 50 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5157 | +0.007% | $511K | $3.3M | 20x | as long as short |
| Katana Perps XRP-USD | +0.0100% | 8h | 1.5124 | −0.211% | $10K | $307K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5137 | −0.122% | $934K | $6.0M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5141 | −0.100% | $38.5M | $84.2M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5156 | −0.001% | $609K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5146 | −0.069% | $537.2M | $2.11B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5143 | −0.086% | $340.9M | $940.5M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5143 | −0.086% | $124.2M | $871.8M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5130 | −0.172% | $564K | $28K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5139 | −0.112% | $114K | $701K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5190 | +0.221% | $1.6M | $330K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5143 | −0.086% | $368.4M | $152.7M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5143 | −0.086% | $289.6M | $915.1M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5135 | −0.135% | $106.9M | $171.4M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5141 | −0.099% | $266.7M | $384.4M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5133 | −0.152% | — | $4.1M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5151 | −0.035% | $6.2M | $35.7M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5154 | −0.015% | $658K | $109.2M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5186 | +0.198% | $1.1M | $37.0M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5155 | −0.007% | $1.2M | $1.0M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5141 | −0.102% | — | $11K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5136 | −0.132% | $44K | $445K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5144 | −0.078% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5142 | −0.090% | $815K | $75K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5151 | −0.032% | $127K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5143 | −0.086% | $29K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5139 | −0.113% | $49.6M | $15.4M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5144 | −0.079% | $53.8M | $29.8M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5156 | +0.001% | $473K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5130 | −0.175% | $2.0M | $6.9M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5139 | −0.112% | $58K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0136% | 1h | 1.5131 | −0.165% | $8K | $8K | 10x | as long as short |
| Hyperliquid XRP | +0.0192% | 1h | 1.5145 | −0.073% | $280.3M | $222.0M | 20x | as long as short |
| Reya XRPRUSDPERP | +0.0214% | 1h | 1.5133 | −0.154% | $1.3M | $7K | 15x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0216% | 1h | 1.5149 | −0.046% | $5.7M | $46.7M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0320% | 1h | 1.5132 | −0.158% | $17K | $82K | 7x | as long as short |
| Backpack XRP_USDC_PERPlong | +0.0342% | 1h | 1.5156 | long leg | $1.9M | $1.3M | 25x | |
| Kalshi KXXRPPERPshort | +0.0361% | 8h | 1.5140 | −0.106% | $2.1M | $35.7M | 2.9x | |
| RISEx XRP/USDC | +0.0456% | 1h | 1.5134 | −0.148% | $529K | $787K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0756% | 1h | 1.5153 | −0.018% | $2K | $14K | 10x | as long as short |
Lighter RH XRP
Katana Perps XRP-USD
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Hyperliquid XRP
Reya XRPRUSDPERP
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
RISEx XRP/USDC
Aftermath Perps XRPUSD