Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0386%/8h= +42.2% APRpaid last 24h −0.107%

Price spread now: GMX against Kalshi−0.072%7-day average −0.021% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.326%−$33 on $10k

Price spread, last 4 days (all we have)+0.112%+$11 · spread now −0.072%, 7d avg −0.021%

Together, before fees−0.214%−$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.051% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.072% now, against its 7-day average of −0.021%). If the spread goes back, that is −$5 on $10k: about 11 hours of funding at the current rate (+$12 a day). Mind the row above: over the last 4 days funding on this pair cost −0.326%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5315	0.0112	pay 0.0112% / 8h	54m 55s	$1.9M	$35.5M	2.9x
Short	GMX XRP/USD [ETH-USDC]	1.5304	L +0.0254% / S −0.0498%	get 0.0062% / 1h	54m 55s	$880K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.072%Rate

Funding earned: $80.96
Price spread: −0.072% → −0.021%: −$5.09
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $53.87
Costs to cover: 0.220%
Break-even: 2.3 days

Slippage unknown: Kalshi: live order book, 2 min ago; GMX: no order-book sample. Net counts fees only.

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, 2 min ago	1.96 bp	8.7 bp −$9	12.0 bp −$120	19.2 bp −$1,915	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XRP on 51 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	1.5378	+0.411%	$5K	$2K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0077%	1h	1.5309	−0.040%	$13.8M	$68.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5318	+0.016%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5320	+0.033%	$69K	$102K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5310	−0.033%	$7.7M	$19.9M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5304	−0.072%	$242K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.600%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5314	−0.007%	$17K	$69K	7x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5314	−0.007%	$9K	$987	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5308	−0.043%	$2.7M	$13.4M	20x	as long as short

Show all 51 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5312	−0.020%	$598K	$3.0M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0096%	1h	1.5309	−0.039%	$5.4M	$42.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5321	+0.036%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5310	−0.033%	$10K	$410K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5317	+0.016%	$840K	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5313	−0.013%	$297.6M	$259.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5300	−0.098%	$38.9M	$79.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5319	+0.026%	$589K	$985K	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5298	−0.111%	$532.4M	$2.03B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5300	−0.098%	$359.7M	$855.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5299	−0.104%	$124.0M	$820.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5287	−0.183%	$562K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5320	+0.033%	$163K	$692K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5312	−0.023%	$1.6M	$66K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5300	−0.098%	$377.1M	$156.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5299	−0.104%	$319.7M	$872.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5302	−0.084%	$104.7M	$180.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5300	−0.098%	$270.7M	$347.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5295	−0.131%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5304	−0.069%	$4.9M	$38.0M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5306	−0.057%	$665K	$105.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5310	−0.033%	$1.1M	$32.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5318	+0.020%	$1.2M	$1.2M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5312	−0.020%	$52K	$469K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5306	−0.061%	$41K	$64K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5306	−0.059%	$83K	$601K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5308	−0.046%	$824K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5324	+0.056%	$128K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5306	−0.059%	$31K	$1.4M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5305	−0.065%	$49.9M	$13.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5304	−0.072%	$54.7M	$33.3M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5312	−0.017%	—	$15K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5296	−0.126%	$2.2M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5301	−0.091%	$59K	$25K	3x	as long as short
Kalshi KXXRPPERPlong	+0.0112%	8h	1.5315	long leg	$1.9M	$35.5M	2.9x
Backpack XRP_USDC_PERP	+0.0185%	1h	1.5314	−0.007%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5302	−0.085%	$23.8M	$77.4M	125x	as long as short
Reya XRPRUSDPERP	+0.0224%	1h	1.5302	−0.087%	$1.4M	$1K	15x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0254% / S −0.0498%	1h	1.5304	−0.072%	$880K	—	200x
RISEx XRP/USDC	+0.0300%	1h	1.5319	+0.029%	$507K	$723K	10x	as long as short
Aftermath Perps XRPUSD	+0.0391%	1h	1.5316	+0.005%	$3K	$13K	10x	as long as short