Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0126%/8h= +13.8% APRpaid last 24h −0.005%

Price spread now: Kalshi against Coinbase International−0.172%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$370.365% of the position

Long on Coinbase International Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.022%+$2 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.172%, 7d avg +0.010%

Together, before fees+0.220%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.182% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.172% now, against its 7-day average of +0.010%). If the spread goes back, that is −$18 on $10k: about 4.8 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.022% in total) that is about 58 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International XRP-PERP-INTX	1.5138	0.0216	pay 0.0027% / 1h	35m 44s	$5.7M	$46.6M	50x
Short	Kalshi KXXRPPERP	1.5112	0.0342	get 0.0342% / 8h	2h 35m	$2.1M	$36.1M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Coinbase International. 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 Coinbase InternationalbpFee KalshibpOrdersPrice spread, now −0.172%Rate

Funding earned: $26.4
Price spread: −0.172% → +0.010%: −$18.19
Slippage, 4 orders: −$16.54
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$28.32
Costs to cover: 0.365%
Break-even: 14.5 days

Slippage from Coinbase International: live order book, 3 min ago; Kalshi: live order book, 3 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 Coinbase International live order book, 3 min ago	0.33 bp	7.3 bp −$7	9.9 bp −$99	33.0 bp −$3,305	doesn't fit
Sell Kalshi live order book, 3 min ago	1.33 bp	9.2 bp −$9	12.2 bp −$122	20.0 bp −$2,004	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	1.5078	−0.396%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5124	−0.093%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5100	−0.251%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5124	−0.092%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0018% / S +0.0062%	1h	1.5123	−0.102%	$801K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.788%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5128	−0.065%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0070%	8h	1.5127	−0.073%	$58K	$947K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5131	−0.044%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5132	−0.040%	$517K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5110	−0.185%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5110	−0.187%	$800K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5134	−0.029%	$38.5M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5134	−0.029%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5131	−0.046%	$537.3M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5134	−0.026%	$340.2M	$942.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5135	−0.020%	$123.7M	$871.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5069	−0.456%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5116	−0.145%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5101	−0.244%	$1.6M	$307K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5133	−0.033%	$367.2M	$151.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5137	−0.007%	$289.2M	$907.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5136	−0.015%	$106.7M	$172.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5126	−0.079%	$265.5M	$385.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5130	−0.053%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5126	−0.078%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5093	−0.297%	$655K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5084	−0.359%	$1.1M	$38.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5108	−0.198%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5115	−0.152%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5129	−0.059%	$45K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5128	−0.067%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5131	−0.048%	$814K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5136	−0.013%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5130	−0.053%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5130	−0.052%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5130	−0.053%	$53.8M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5112	−0.173%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5132	−0.042%	$2.0M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5130	−0.056%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5120	−0.119%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0209%	1h	1.5140	+0.015%	$280.1M	$221.1M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5124	−0.090%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTXlong	+0.0216%	1h	1.5138	long leg	$5.7M	$46.6M	50x
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.363%	$24.0M	$75.2M	125x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0279%	1h	1.5133	−0.033%	$7.6M	$25.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5094	−0.292%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0337%	1h	1.5141	+0.020%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERPshort	+0.0342%	8h	1.5112	−0.172%	$2.1M	$36.1M	2.9x
RISEx XRP/USDC	+0.0456%	1h	1.5121	−0.113%	$535K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0798%	1h	1.5117	−0.141%	$2K	$14K	10x	as long as short