Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0273%/8h= −29.9% APRpaid last 24h −0.066%

Price spread now: gTrade (Gains Network) against Kalshi−0.067%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$289as in the Price arb table

costs, in and out, $10k−$2872.868% of the position

Long on Kalshi Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.182%−$18 on $10k

Price spread, last 4 days (all we have)+0.107%+$11 · spread now −0.067%, 7d avg −0.042%

Together, before fees−0.076%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and gTrade (Gains Network) is 0.025% cheaper against Kalshi than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5186	0.0277	pay 0.0277% / 8h	7h 40m	$2.0M	$35.1M	2.9x
Short	gTrade (Gains Network) XRP/USD	1.5176	L +0.0003% / S −0.0004%	get 0.0000% / 1h	40m 01s	$262K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.067%Rate

Funding earned: −$57.43
Price spread: −0.067% → −0.042%: −$2.49
Slippage, 4 orders: −$266.77
Fee Kalshi: 5 bp × 2 orders: −$10
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$346.69
Costs to cover: 2.868%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; gTrade (Gains Network): virtual book (oracle venue), 14 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	1.64 bp	8.3 bp −$8	11.4 bp −$114	19.1 bp −$1,914	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 14 min ago	130.04 bp	135.0 bp −$135	193.2 bp −$1,932	1958.1 bp −$195.8K	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	1.5178	−0.053%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5177	−0.057%	$1.1M	$111K	10x	as long as short
gTrade (Gains Network) XRP/USDshort	L +0.0003% / S −0.0004%	1h	1.5176	−0.067%	$262K	—	150x
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5179	−0.046%	$7.8M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5174	−0.077%	$14.4M	$74.2M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.463%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0052% / S +0.0013%	1h	1.5176	−0.067%	$779K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5180	−0.040%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5179	−0.046%	$497K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5173	−0.086%	$12K	$343K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5176	−0.066%	$62K	$934K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5177	−0.061%	$1.0M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5177	−0.059%	$38.4M	$84.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5179	−0.046%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5180	−0.039%	$533.3M	$2.14B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5182	−0.026%	$346.0M	$942.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5184	−0.013%	$127.1M	$887.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5151	−0.230%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5181	−0.033%	$118K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5203	+0.112%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5174	−0.079%	$370.3M	$154.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5180	−0.040%	$293.1M	$900.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5183	−0.022%	$108.9M	$177.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5180	−0.040%	$268.9M	$389.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5171	−0.099%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5173	−0.087%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5203	+0.112%	$661K	$109.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5201	+0.099%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5209	+0.151%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5179	−0.043%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5184	−0.013%	$45K	$476K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5178	−0.052%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5180	−0.039%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5182	−0.024%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5175	−0.072%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5179	−0.044%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5176	−0.066%	$54.1M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5177	−0.059%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5178	−0.051%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5175	−0.070%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5183	−0.020%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5182	−0.026%	$5.6M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5181	−0.035%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5176	−0.066%	$24.1M	$76.0M	125x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5170	−0.104%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERPlong	+0.0277%	8h	1.5186	long leg	$2.0M	$35.1M	2.9x
Backpack XRP_USDC_PERP	+0.0289%	1h	1.5185	−0.007%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0320%	1h	1.5191	+0.033%	$292.0M	$235.4M	20x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5183	−0.018%	$517K	$774K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5170	−0.105%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5190	+0.026%	$2K	$15K	10x	as long as short