Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0130%/8h= −14.2% APRpaid last 24h −0.066%

Price spread now: gTrade (Gains Network) against Kalshi−0.065%71s7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$2872.870% of the position

Long on Kalshi Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.182%−$18 on $10k

Price spread, last 4 days (all we have)+0.105%+$10 · spread now −0.065%, 7d avg −0.060%

Together, before fees−0.077%−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.060%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 71 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	Kalshi KXXRPPERP	1.5296	0.0134	pay 0.0134% / 8h	1h 43m	$1.9M	$35.1M	2.9x
Short	gTrade (Gains Network) XRP/USD	1.5286	L +0.0003% / S −0.0004%	get 0.0000% / 1h	43m 18s	$242K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.065%Rate

Funding earned: −$27.32
Price spread: −0.065% → −0.060%: −$0.46
Slippage, 4 orders: −$266.98
Fee Kalshi: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$314.76
Costs to cover: 2.870%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle exchange), 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	2.28 bp	8.5 bp −$8	11.7 bp −$117	19.7 bp −$1,969	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle exchange), 4 min ago	130.02 bp	135.0 bp −$135	193.2 bp −$1,932	1958.2 bp −$195.8K	doesn't fit

XRP on 50 exchanges

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	1.5366	+0.458%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5307	+0.072%	$14.0M	$70.4M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5299	+0.021%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5290	−0.039%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5302	+0.039%	$7.8M	$21.0M	50x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5286	−0.065%	$242K	—	150x
01 Exchange XRPUSD	+0.0016%	1h	1.5306	+0.065%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.726%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0081%	1h	1.5300	+0.026%	$29K	$1.5M	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5302	+0.040%	$2.8M	$14.1M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5306	+0.065%	$598K	$3.1M	20x	as long as short
Hibachi XRP/USDT-P	+0.0096%	1h	1.5285	−0.072%	$17K	$76K	7x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5296	−0.003%	$477K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5296	0.000%	$10K	$399K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5299	+0.017%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5326	+0.196%	$298.5M	$267.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5320	+0.157%	$39.3M	$81.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5303	+0.045%	$591K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5318	+0.144%	$533.1M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5324	+0.183%	$361.1M	$885.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5324	+0.183%	$124.4M	$835.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5279	−0.111%	$562K	$36K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5309	+0.085%	$164K	$682K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5314	+0.119%	$1.6M	$26K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5315	+0.124%	$380.4M	$156.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5311	+0.098%	$311.8M	$893.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5311	+0.097%	$105.3M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5314	+0.118%	$271.7M	$356.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5319	+0.150%	—	$99.4M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5316	+0.131%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	+0.082%	$5.0M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5283	−0.086%	$664K	$110.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5321	+0.161%	$1.1M	$30.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5290	−0.039%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5310	+0.089%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5315	+0.124%	$52K	$474K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5315	+0.123%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5326	+0.196%	$83K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5301	+0.035%	$128K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5298	+0.014%	$49.9M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5310	+0.092%	$54.6M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5322	+0.172%	$2.2M	$6.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5322	+0.170%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5302	+0.039%	$5.5M	$43.7M	50x	as long as short
Kalshi KXXRPPERPlong	+0.0134%	8h	1.5296	long leg	$1.9M	$35.1M	2.9x
GMX XRP/USD [ETH-USDC]	L +0.0211% / S −0.0510%	1h	1.5283	−0.082%	$822K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5281	−0.098%	$23.9M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5279	−0.112%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5309	+0.082%	$514K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0450%	1h	1.5315	+0.126%	$3K	$13K	10x	as long as short