Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h −0.037%

Price spread now: SoDEX against Kalshi+0.026%7-day average −0.047% · 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−$21as in the Price arb table

costs, in and out, $10k−$280.280% of the position

Long on Kalshi Short on SoDEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.092%−$9 on $10k

Price spread, last 4 days (all we have)−0.126%−$13 · spread now +0.026%, 7d avg −0.047%

Together, before fees−0.218%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SoDEX is 0.074% dearer against Kalshi than usual: you sell high and buy low (spread +0.026% now, against its 7-day average of −0.047%): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5161	0.0213	pay 0.0213% / 8h	6h 09m	$1.7M	$35.5M	2.9x
Short	SoDEX XRP-USD	1.5165	0.0100	get 0.0013% / 1h	9m 45s	$29K	$1.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SoDEX 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 SoDEXbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$23.83
Price spread: +0.026% → −0.047%: $7.38
Slippage, 4 orders: −$9.97
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SoDEX: 4 bp × 2 orders: −$8
Net: −$44.42
Costs to cover: 0.280%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; SoDEX: live order book, 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	1.98 bp	8.4 bp −$8	11.5 bp −$115	18.7 bp −$1,871	doesn't fit
Sell SoDEX live order book, 4 min ago	0.33 bp	4.3 bp −$4	7.5 bp −$75	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	1.5155	−0.040%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5165	+0.023%	$14.2M	$74.6M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5162	+0.004%	$1.1M	$148K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	−0.468%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5157	−0.025%	$245K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.632%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0073% / S −0.0017%	1h	1.5157	−0.029%	$799K	—	200x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5156	−0.033%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5168	+0.049%	$2.8M	$15.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5171	+0.066%	$548K	$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	+0.0099%	8h	1.5146	−0.099%	$11K	$362K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5151	−0.063%	$984K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5170	+0.058%	$38.5M	$87.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5170	+0.062%	$603K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5169	+0.054%	$527.9M	$2.22B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5164	+0.020%	$344.4M	$965.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5164	+0.020%	$126.6M	$888.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5137	−0.158%	$563K	$35K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5162	+0.007%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5132	−0.192%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5158	−0.020%	$372.6M	$161.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5165	+0.026%	$297.9M	$927.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5165	+0.026%	$107.2M	$181.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5164	+0.020%	$266.5M	$398.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5160	−0.007%	—	$106.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5143	−0.120%	$4.6M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5116	−0.294%	$656K	$113.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5088	−0.481%	$1.1M	$37.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5129	−0.211%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5154	−0.045%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5158	−0.020%	$51K	$488K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5155	−0.040%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5162	+0.007%	$62K	$932K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5164	+0.017%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5169	+0.055%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USDshort	+0.0100%	1h	1.5165	+0.026%	$29K	$1.6M	10x
HTX XRP-USDT	+0.0100%	8h	1.5158	−0.022%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5152	−0.059%	$54.0M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5169	+0.053%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5153	−0.051%	$1.9M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5163	+0.013%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0141%	1h	1.5178	+0.112%	$290.7M	$263.2M	20x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0146%	1h	1.5169	+0.053%	$7.8M	$25.4M	50x	as long as short
Hibachi XRP/USDT-P	+0.0176%	1h	1.5130	−0.204%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5169	+0.053%	$5.7M	$48.6M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5168	+0.046%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERPlong	+0.0213%	8h	1.5161	long leg	$1.7M	$35.5M	2.9x
Reya XRPRUSDPERP	+0.0218%	1h	1.5152	−0.060%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5145	−0.106%	$23.2M	$77.4M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5160	−0.006%	$517K	$790K	10x	as long as short
Aftermath Perps XRPUSD	+0.0590%	1h	1.5111	−0.329%	$2K	$16K	10x	as long as short