Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0095%/8h= +10.4% APRpaid last 24h +0.083%

Price spread now: RISEx against Kalshi+0.147%7-day average −0.011% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$280.279% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.235%+$23 on $10k

Price spread, last 4 days (all we have)−0.236%−$24 · spread now +0.147%, 7d avg −0.011%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and RISEx is 0.157% dearer against Kalshi than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5187	0.0264	pay 0.0264% / 8h	7h 37m	$2.0M	$35.2M	2.9x
Short	RISEx XRP/USDC	1.5209	0.0358	get 0.0045% / 1h	37m 19s	$518K	$775K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.147%Rate

Funding earned: $19.89
Price spread: +0.147% → −0.011%: $15.74
Slippage, 4 orders: −$11.92
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: $7.7
Costs to cover: 0.279%
Break-even: 4.3 days

Slippage from Kalshi: live order book, 2 min ago; RISEx: live order book, 16 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, 2 min ago	2.30 bp	9.7 bp −$10	11.8 bp −$118	17.4 bp −$1,743	doesn't fit
Sell RISEx live order book, 16 min ago	1.61 bp	4.6 bp −$5	10.5 bp −$105	doesn't fit	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	1.5196	+0.059%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5199	+0.078%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5211	+0.155%	$254K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0021%	1h	1.5200	+0.086%	$14.4M	$74.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.456%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0052% / S +0.0012%	1h	1.5210	+0.150%	$805K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5203	+0.105%	$7.8M	$25.5M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5201	+0.094%	$2.9M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5203	+0.105%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5201	+0.092%	$12K	$340K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5197	+0.066%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5203	+0.105%	$38.4M	$84.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5200	+0.086%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5213	+0.169%	$534.6M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5213	+0.171%	$346.9M	$940.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5211	+0.158%	$127.2M	$886.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5151	−0.237%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5207	+0.132%	$118K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.106%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5208	+0.138%	$372.0M	$154.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5210	+0.151%	$295.2M	$901.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5205	+0.120%	$109.0M	$177.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5214	+0.178%	$269.7M	$388.3M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5211	+0.158%	—	$127.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5173	−0.093%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5174	−0.086%	$659K	$109.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5179	−0.052%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5182	−0.033%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5202	+0.097%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5208	+0.138%	$45K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5211	+0.155%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5209	+0.145%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5211	+0.160%	$818K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5179	−0.051%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5201	+0.092%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5197	+0.068%	$49.7M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5201	+0.092%	$54.2M	$31.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5198	+0.074%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5197	+0.067%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5211	+0.155%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5210	+0.151%	$9K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5205	+0.119%	$5.6M	$47.5M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5203	+0.107%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5170	−0.112%	$24.2M	$76.0M	125x	as long as short
Kalshi KXXRPPERPlong	+0.0264%	8h	1.5187	long leg	$2.0M	$35.2M	2.9x
Hibachi XRP/USDT-P	+0.0272%	1h	1.5199	+0.078%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0296%	1h	1.5212	+0.165%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0328%	1h	1.5217	+0.198%	$292.5M	$235.3M	20x	as long as short
RISEx XRP/USDCshort	+0.0358%	1h	1.5209	+0.147%	$518K	$775K	10x
Phoenix XRP	+0.0528%	1h	1.5170	−0.112%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0660%	1h	1.5197	+0.067%	$2K	$15K	10x	as long as short