Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0057%/8h= −6.2% APRpaid last 24h −0.120%

Price spread now: GMX against Kalshi−0.152%7-day average −0.018% · you buy dearer than you sell

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

Long on Kalshi Short on GMX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.331%−$33 on $10k

Price spread, last 4 days (all we have)+0.249%+$25 · spread now −0.152%, 7d avg −0.018%

Together, before fees−0.082%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.135% cheaper against Kalshi than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.018%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5371	0.0170	pay 0.0170% / 8h	2h 55m	$1.7M	$32.9M	2.9x
Short	GMX XRP/USD [ETH-USDC]	1.5348	L +0.0145% / S −0.0113%	get 0.0014% / 1h	55m 11s	$822K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.152%Rate

Funding earned: −$11.96
Price spread: −0.152% → −0.018%: −$13.46
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$47.43
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 4 min ago; GMX: no order-book sample. 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 Kalshi live order book, 4 min ago	2.27 bp	8.4 bp −$8	12.2 bp −$122	20.9 bp −$2,089	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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 50 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	1.5396	+0.163%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5378	+0.044%	$1.1M	$155K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	+0.384%	$69K	$109K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5353	−0.117%	$7.9M	$22.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5479	+0.700%	$251K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0016%	1h	1.5354	−0.110%	$14.0M	$73.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.230%	$2K	$107K	30x	as long as short
Hibachi XRP/USDT-P	+0.0064%	1h	1.5439	+0.443%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5353	−0.118%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5356	−0.098%	$618K	$3.1M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5348	−0.150%	$17K	$378K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5373	+0.010%	$479K	$51K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5354	−0.107%	$989K	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5350	−0.137%	$39.0M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5379	+0.051%	$608K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5347	−0.158%	$535.4M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5341	−0.195%	$356.2M	$907.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5339	−0.208%	$125.3M	$849.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5434	+0.410%	$567K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5356	−0.098%	$166K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5425	+0.349%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5341	−0.195%	$383.2M	$156.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5340	−0.202%	$304.6M	$896.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5351	−0.128%	$109.1M	$180.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5340	−0.202%	$271.4M	$362.0M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5337	−0.221%	—	$4.2M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5429	+0.381%	$4.9M	$38.2M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5432	+0.398%	$672K	$113.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5452	+0.529%	$1.1M	$32.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5438	+0.436%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5374	+0.018%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5346	−0.163%	$52K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5351	−0.130%	$41K	$66K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5359	−0.078%	$78K	$623K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5354	−0.112%	$129K	$1.6M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5353	−0.117%	$30K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5344	−0.176%	$50.1M	$14.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5353	−0.117%	$54.6M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5349	−0.143%	$2.1M	$5.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5371	0.000%	$59K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5347	−0.156%	$9K	$2K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0120%	1h	1.5353	−0.117%	$5.4M	$46.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0126%	1h	1.5346	−0.163%	$2.0M	$1.3M	25x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0145% / S −0.0113%	1h	1.5348	−0.152%	$822K	—	200x
Kalshi KXXRPPERPlong	+0.0170%	8h	1.5371	long leg	$1.7M	$32.9M	2.9x
Hyperliquid XRP	+0.0200%	1h	1.5353	−0.117%	$295.1M	$268.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5343	−0.182%	$23.8M	$79.0M	125x	as long as short
Reya XRPRUSDPERP	+0.0222%	1h	1.5347	−0.153%	$1.4M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0272%	1h	1.5355	−0.103%	$513K	$796K	10x	as long as short
Aftermath Perps XRPUSD	+0.0496%	1h	1.5446	+0.489%	$3K	$15K	10x	as long as short