Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0323%/8h= +35.4% APRpaid last 24h +0.103%

Price spread now: Kalshi against GMX−0.070%7-day average +0.010% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.243%+$24 on $10k

Price spread, last 3 days (all we have)+0.056%+$6 · spread now −0.070%, 7d avg +0.010%

Together, before fees+0.299%+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kalshi is 0.080% cheaper against GMX than usual: you would sell low and buy high (spread −0.070% now, against its 7-day average of +0.010%). If the spread goes back, that is −$8 on $10k: about 20 hours of funding at the current rate (+$10 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX XRP/USD [ETH-USDC]	1.5123	L +0.0018% / S +0.0062%	pay 0.0002% / 1h	36m 18s	$801K	—	200x
Short	Kalshi KXXRPPERP	1.5112	0.0342	get 0.0342% / 8h	2h 36m	$2.1M	$36.1M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against GMX. 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 GMXbpFee KalshibpOrdersPrice spread, now −0.070%Rate

Funding earned: $67.89
Price spread: −0.070% → +0.010%: −$7.99
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $37.9
Costs to cover: 0.220%
Break-even: 3.1 days

Slippage unknown: GMX: no order-book sample; Kalshi: live order book, 3 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	1.33 bp	9.2 bp −$9	12.2 bp −$122	20.0 bp −$2,004	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5078	−0.295%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5095	−0.181%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5100	−0.149%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5124	+0.009%	$252K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]long	L +0.0018% / S +0.0062%	1h	1.5123	long leg	$801K	—	200x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.893%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5128	+0.037%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0070%	8h	1.5127	+0.029%	$58K	$947K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5132	+0.066%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5135	+0.082%	$517K	$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	+0.0100%	8h	1.5110	−0.083%	$10K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5110	−0.085%	$800K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5128	+0.038%	$38.5M	$84.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5106	−0.107%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5133	+0.069%	$537.4M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5130	+0.049%	$340.2M	$944.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5130	+0.049%	$123.6M	$872.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5069	−0.354%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5116	−0.043%	$115K	$723K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5101	−0.143%	$1.6M	$307K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5127	+0.029%	$367.0M	$151.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5130	+0.049%	$289.4M	$906.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5126	+0.025%	$106.7M	$172.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5129	+0.043%	$265.5M	$385.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5120	−0.017%	—	$4.1M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5126	+0.024%	$6.2M	$35.8M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5093	−0.195%	$655K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5084	−0.257%	$1.1M	$38.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5108	−0.096%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5115	−0.051%	—	$12K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5129	+0.043%	$45K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5128	+0.035%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5131	+0.054%	$814K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5136	+0.089%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5130	+0.049%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5130	+0.050%	$49.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5130	+0.049%	$53.8M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5112	−0.071%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5124	+0.008%	$2.0M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5130	+0.046%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5120	−0.017%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0206%	1h	1.5138	+0.102%	$279.9M	$220.8M	20x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5124	+0.012%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5138	+0.102%	$5.7M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5193	+0.466%	$24.0M	$75.2M	125x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0279%	1h	1.5133	+0.069%	$7.6M	$25.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5094	−0.190%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0330%	1h	1.5105	−0.116%	$1.9M	$1.3M	25x	as long as short
Kalshi KXXRPPERPshort	+0.0342%	8h	1.5112	−0.070%	$2.1M	$36.1M	2.9x
RISEx XRP/USDC	+0.0456%	1h	1.5121	−0.011%	$535K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0798%	1h	1.5117	−0.039%	$2K	$14K	10x	as long as short