Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0035%/8h= +3.8% APRpaid last 24h +0.037%

Price spread now: Kalshi against Polymarket Perps+0.046%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Polymarket Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$12 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now +0.046%, 7d avg +0.022%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.024% dearer against Polymarket Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps XRP-USD	1.5284	0.0100	pay 0.0013% / 1h	45m 04s	$52K	$474K	20x
Short	Kalshi KXXRPPERP	1.5291	0.0135	get 0.0135% / 8h	1h 45m	$1.9M	$35.1M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Polymarket Perps. 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 Polymarket PerpsbpFee KalshibpOrdersPrice spread, now +0.046%Rate

Funding earned: $7.25
Price spread: +0.046% → +0.022%: $2.35
Slippage, 4 orders: −$13.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$22.33
Costs to cover: 0.319%
Break-even: 28.6 days

Slippage from Polymarket Perps: live order book, 65 min ago; Kalshi: live order book, 2 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 Polymarket Perps live order book, 65 min ago	2.28 bp	8.1 bp −$8	11.0 bp −$110	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	2.28 bp	8.5 bp −$8	10.9 bp −$109	16.5 bp −$1,651	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	1.5356	+0.471%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0063%	1h	1.5288	+0.023%	$13.9M	$70.3M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5286	+0.011%	$1.1M	$154K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5340	+0.366%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5287	+0.020%	$7.8M	$21.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5286	+0.014%	$242K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5291	+0.046%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.806%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0068%	1h	1.5283	−0.007%	$29K	$1.5M	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5284	−0.002%	$2.8M	$14.1M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5291	+0.046%	$598K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5286	+0.012%	$477K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5284	0.000%	$10K	$399K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5284	+0.003%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5299	+0.098%	$297.8M	$267.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5290	+0.039%	$39.2M	$81.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5289	+0.030%	$590K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5283	−0.007%	$532.7M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5282	−0.013%	$360.5M	$887.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5280	−0.026%	$124.6M	$832.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5279	−0.033%	$562K	$36K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5292	+0.052%	$164K	$682K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5314	+0.197%	$1.6M	$26K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5288	+0.026%	$380.0M	$156.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5286	+0.013%	$310.8M	$891.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5285	+0.009%	$105.0M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5282	−0.013%	$271.2M	$356.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5281	−0.020%	—	$4.2M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5298	+0.092%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRP	+0.0100%	8h	1.5309	+0.161%	$5.0M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5313	+0.193%	$665K	$109.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5321	+0.240%	$1.1M	$30.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5317	+0.216%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5291	+0.045%	—	$15K	10x	as long as short
Polymarket Perps XRP-USDlong	+0.0100%	1h	1.5284	long leg	$52K	$474K	20x
Bullet XRP-USD	+0.0100%	1h	1.5283	−0.007%	$41K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5283	−0.007%	$83K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5287	+0.022%	$128K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5284	+0.001%	$49.8M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5289	+0.033%	$54.5M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5276	−0.049%	$2.2M	$6.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0104%	1h	1.5313	+0.188%	$17K	$76K	7x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5277	−0.043%	$59K	$25K	3x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5291	+0.046%	$5.4M	$43.7M	50x	as long as short
Kalshi KXXRPPERPshort	+0.0135%	8h	1.5291	+0.046%	$1.9M	$35.1M	2.9x
GMX XRP/USD [ETH-USDC]	L +0.0211% / S −0.0510%	1h	1.5283	−0.004%	$822K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5281	−0.020%	$23.9M	$78.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5279	−0.033%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5291	+0.047%	$513K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0443%	1h	1.5332	+0.314%	$3K	$13K	10x	as long as short