XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0045%/8h= −4.9% APRnext payment −$0.45 per $10,000 · paid last 24h −0.037%

Price spread now: Phemex against Kalshi−0.104%7-day average −0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

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

costs, in and out, $10k−$480.482% of the position

Long on Kalshi Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now −0.104%, 7d avg −0.038%

Together, before fees−0.204%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.065% cheaper against Kalshi than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.038%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5421	0.0145	pay 0.0145% / 8h	2h 02m	$1.9M	$34.7M	2.9x
Short	Phemex XRPUSDT	1.5405	0.0100	get 0.0100% / 8h	6h 02m	$54.9M	$33.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$9.42
Price spread: −0.104% → −0.038%: −$6.55
Slippage, 4 orders: −$26.23
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$64.2
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from Kalshi: live order book, 5 min ago; Phemex: 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 Kalshi live order book, 5 min ago	4.55 bp	10.3 bp −$10	11.7 bp −$117	21.0 bp −$2,100	doesn't fit
Sell Phemex live order book, 5 min ago	3.57 bp	13.0 bp −$13	18.1 bp −$181	25.9 bp −$2,590	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	1.5416	−0.032%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5407	−0.091%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5408	−0.084%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5402	−0.122%	$246K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5406	−0.096%	$14.1M	$72.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+0.901%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5401	−0.130%	$9K	$1K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5403	−0.118%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5408	−0.084%	$608K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5405	−0.102%	$480K	$47K	50x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5397	−0.156%	$10K	$400K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5406	−0.098%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5413	−0.052%	$300.6M	$267.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5400	−0.134%	$39.5M	$82.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5411	−0.065%	$593K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5400	−0.136%	$536.7M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5404	−0.110%	$365.2M	$894.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5394	−0.175%	$125.1M	$843.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5424	+0.019%	$565K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5407	−0.091%	$165K	$686K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5402	−0.123%	$382.8M	$162.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5400	−0.136%	$313.3M	$923.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5403	−0.115%	$107.0M	$181.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5394	−0.175%	$273.2M	$358.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5398	−0.149%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5394	−0.176%	$5.1M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5405	−0.107%	$669K	$110.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5414	−0.045%	$1.1M	$31.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5421	0.000%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5411	−0.063%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5404	−0.110%	$53K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5399	−0.143%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5404	−0.110%	$76K	$606K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5407	−0.091%	$129K	$1.5M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5405	−0.104%	$32K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5399	−0.141%	$50.2M	$14.1M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5405	−0.104%	$54.9M	$33.3M	50x
Bulk XRP-USD	+0.0100%	1h	1.5369	−0.336%	$1.6M	$25K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5400	−0.138%	$2.2M	$6.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5397	−0.158%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5406	−0.097%	$5.5M	$45.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0128%	1h	1.5420	−0.006%	$17K	$76K	7x	as long as short
Kalshi KXXRPPERPlong	+0.0145%	8h	1.5421	long leg	$1.9M	$34.7M	2.9x
GMX XRP/USD [ETH-USDC]	L +0.0165% / S −0.0356%	1h	1.5402	−0.121%	$611K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0198%	1h	1.5436	+0.097%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5431	+0.065%	$23.9M	$79.1M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5399	−0.143%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5403	−0.117%	$514K	$781K	10x	as long as short
Aftermath Perps XRPUSD	+0.0441%	1h	1.5403	−0.119%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5410	−0.071%	$69K	$109K	15x	as long as short