Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0213%/8h= +23.3% APRpaid last 24h +0.067%

Price spread now: Kalshi against dYdX+0.063%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$900.901% of the position

Long on dYdX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days+0.247%+$25 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.063%, 7d avg +0.044%

Together, before fees+0.225%+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.044%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5151	0	get 0.0000% / 1h	40m 13s	$1.1M	$148K	10x
Short	Kalshi KXXRPPERP	1.5161	0.0213	get 0.0213% / 8h	5h 40m	$1.8M	$35.3M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against dYdX. 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 dYdXbpFee KalshibpOrdersPrice spread, now +0.063%Rate

Funding earned: $44.7
Price spread: +0.063% → +0.044%: $1.96
Slippage, 4 orders: −$70.05
Fee dYdX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$43.4
Costs to cover: 0.901%
Break-even: 13.8 days

Slippage from dYdX: live order book, 4 min ago; Kalshi: 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 dYdX live order book, 4 min ago	16.87 bp	44.3 bp −$44	44.4 bp −$444	65.6 bp −$6,556	148.9 bp −$74.5K
Sell Kalshi live order book, 4 min ago	2.31 bp	7.3 bp −$7	10.1 bp −$101	18.0 bp −$1,804	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	1.5157	+0.037%	$5K	$3K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5151	long leg	$1.1M	$148K	10x
Phoenix XRP	0.0000%	1h	1.5150	−0.009%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5140	−0.078%	$245K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0025%	1h	1.5138	−0.088%	$14.4M	$75.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.697%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5159	+0.050%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0080%	1h	1.5140	−0.075%	$7.7M	$24.9M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0081% / S −0.0029%	1h	1.5142	−0.059%	$799K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5138	−0.088%	$2.8M	$15.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5139	−0.082%	$544K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0099%	8h	1.5150	−0.009%	$13K	$368K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5153	+0.014%	$988K	$6.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5140	−0.075%	$38.5M	$87.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5160	+0.055%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5137	−0.095%	$529.6M	$2.23B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5133	−0.122%	$344.9M	$969.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5135	−0.108%	$127.1M	$888.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5161	+0.063%	$564K	$32K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5160	+0.057%	$143K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5145	−0.042%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5146	−0.036%	$372.7M	$159.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5137	−0.095%	$298.1M	$921.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5138	−0.088%	$107.2M	$182.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5132	−0.128%	$267.0M	$399.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5143	−0.056%	—	$106.4M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5148	−0.024%	$4.7M	$38.5M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5135	−0.108%	$657K	$114.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5145	−0.044%	$1.1M	$36.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	−0.029%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5155	+0.023%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5152	+0.004%	$47K	$491K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5145	−0.040%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5137	−0.095%	$65K	$774K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.007%	$815K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	−0.042%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5135	−0.108%	$29K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5140	−0.075%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5135	−0.108%	$54.1M	$32.2M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5166	+0.095%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5131	−0.135%	$2.1M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5136	−0.102%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0156%	1h	1.5159	+0.050%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5151	−0.002%	$17K	$79K	7x	as long as short
Hyperliquid XRP	+0.0165%	1h	1.5160	+0.057%	$288.3M	$265.4M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5145	−0.042%	$5.7M	$48.3M	50x	as long as short
Kalshi KXXRPPERPshort	+0.0213%	8h	1.5161	+0.063%	$1.8M	$35.3M	2.9x
Reya XRPRUSDPERP	+0.0219%	1h	1.5143	−0.054%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5151	−0.003%	$23.6M	$77.9M	125x	as long as short
RISEx XRP/USDC	+0.0316%	1h	1.5158	+0.044%	$523K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0566%	1h	1.5157	+0.035%	$2K	$16K	10x	as long as short