XRP

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0046%/8h= +5.1% APRnext payment +$0.46 per $10,000 · paid last 24h +0.037%

Price spread now: Kalshi against Phemex−0.091%7-day average +0.038% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$380.380% of the position

Long on Phemex Short on Kalshi

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)+0.296%+$30 · spread now −0.091%, 7d avg +0.038%

Together, before fees+0.399%+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.129% cheaper against Phemex than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of +0.038%). If the spread goes back, that is −$13 on $10k: about 9.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5400	0.0100	pay 0.0100% / 8h	6h 07m	$55.0M	$33.2M	50x
Short	Kalshi KXXRPPERP	1.5386	0.0146	get 0.0146% / 8h	2h 07m	$1.9M	$34.5M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Phemex. 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 PhemexbpFee KalshibpOrdersPrice spread, now −0.091%Rate

Funding earned: $9.69
Price spread: −0.091% → +0.038%: −$12.92
Slippage, 4 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$41.23
Costs to cover: 0.380%
Break-even: 36.8 days

Slippage from Phemex: live order book, 5 min ago; Kalshi: 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 Phemex live order book, 5 min ago	1.30 bp	10.2 bp −$10	11.4 bp −$114	27.9 bp −$2,794	doesn't fit
Sell Kalshi live order book, 5 min ago	1.95 bp	8.6 bp −$9	12.7 bp −$127	19.0 bp −$1,905	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	1.5380	−0.130%	$5K	$4K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5384	−0.106%	$1.1M	$155K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5402	+0.013%	$7.9M	$21.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5378	−0.143%	$244K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0015%	1h	1.5406	+0.040%	$14.2M	$72.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.039%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0048%	1h	1.5372	−0.182%	$9K	$1K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5403	+0.019%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5407	+0.045%	$609K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5383	−0.110%	$480K	$48K	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	1.5368	−0.208%	$9K	$397K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5375	−0.165%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5413	+0.084%	$300.0M	$266.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5399	−0.006%	$39.5M	$82.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5382	−0.114%	$592K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5405	+0.032%	$537.1M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5406	+0.039%	$363.7M	$894.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5408	+0.052%	$124.8M	$844.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5375	−0.162%	$566K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5380	−0.130%	$165K	$691K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5353	−0.308%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5403	+0.019%	$381.9M	$161.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5406	+0.039%	$316.1M	$920.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5401	+0.010%	$106.8M	$181.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5415	+0.097%	$273.3M	$358.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5397	−0.019%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5387	−0.084%	$5.2M	$38.4M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5379	−0.134%	$668K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5390	−0.063%	$1.1M	$31.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5400	0.000%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5377	−0.148%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5370	−0.195%	$53K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5382	−0.117%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5391	−0.058%	$76K	$607K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5406	+0.038%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5402	+0.013%	$31K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5364	−0.234%	$50.1M	$14.1M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5400	long leg	$55.0M	$33.2M	50x
Extended XRP-USD	+0.0104%	1h	1.5408	+0.049%	$2.2M	$6.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5390	−0.065%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0112%	1h	1.5380	−0.129%	$17K	$76K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5402	+0.013%	$5.5M	$45.4M	50x	as long as short
Kalshi KXXRPPERPshort	+0.0146%	8h	1.5386	−0.091%	$1.9M	$34.5M	2.9x
GMX XRP/USD [ETH-USDC]	L +0.0160% / S −0.0335%	1h	1.5379	−0.136%	$610K	—	200x	as long as short
Backpack XRP_USDC_PERP	+0.0195%	1h	1.5414	+0.091%	$2.0M	$1.2M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5400	0.000%	$23.9M	$79.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5366	−0.221%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5378	−0.142%	$513K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0447%	1h	1.5385	−0.099%	$3K	$14K	10x	as long as short
Phoenix XRP	+0.0516%	1h	1.5390	−0.065%	$69K	$109K	15x	as long as short