Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h −0.022%

Price spread now: Pacifica against Kalshi−0.249%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Kalshi Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.249%, 7d avg −0.045%

Together, before fees+0.039%+ Points / potential airdropPacifica: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Pacifica is 0.204% cheaper against Kalshi than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.024% in total (about -1.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXXRPPERP	1.5236	0.0322	pay 0.0322% / 8h	3h 00m	$2.0M	$34.8M	2.9x
Short	Pacifica XRP	1.5198	0.0100	get 0.0013% / 1h	0m 30s	$625K	$1.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.249%Rate

Funding earned: −$46.68
Price spread: −0.249% → −0.045%: −$20.45
Slippage, 4 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$97.13
Costs to cover: 0.300%
Break-even: never at this rate

Slippage from Kalshi: live order book, 4 min ago; Pacifica: live order book, 3 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	2.29 bp	8.4 bp −$8	11.0 bp −$110	17.4 bp −$1,741	doesn't fit
Sell Pacifica live order book, 3 min ago	1.97 bp	6.0 bp −$6	doesn't fit	doesn't fit	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	1.5203	−0.217%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5193	−0.279%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5215	−0.138%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5216	−0.131%	$9.2M	$24.6M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0070%	1h	1.5213	−0.152%	$834K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.127%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5217	−0.125%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5198	−0.249%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5210	−0.168%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5199	−0.243%	$508K	$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	1.5194	−0.276%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5195	−0.267%	$474K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5203	−0.214%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5204	−0.210%	$38.4M	$83.5M	100x	as long as short
Pacifica XRPshort	+0.0100%	1h	1.5198	−0.249%	$625K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5208	−0.183%	$536.3M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5208	−0.184%	$339.0M	$922.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5200	−0.236%	$122.5M	$864.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5210	−0.171%	$567K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5203	−0.217%	$114K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.746%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5199	−0.243%	$366.9M	$154.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5198	−0.249%	$297.9M	$919.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5204	−0.212%	$110.0M	$168.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5199	−0.243%	$266.4M	$377.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5198	−0.249%	—	$125.6M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5216	−0.132%	$6.4M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5260	+0.156%	$663K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.602%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.105%	$1.2M	$999K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5205	−0.205%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5207	−0.190%	$44K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	−0.116%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5219	−0.113%	$819K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5221	−0.096%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5215	−0.138%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5210	−0.172%	$49.9M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5214	−0.144%	$54.0M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5195	−0.272%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5213	−0.149%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5198	−0.248%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5210	−0.171%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5220	−0.105%	$5.7M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0246%	1h	1.5213	−0.152%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0303%	1h	1.5218	−0.118%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5252	+0.103%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERPlong	+0.0322%	8h	1.5236	long leg	$2.0M	$34.8M	2.9x
Hyperliquid XRP	+0.0355%	1h	1.5211	−0.164%	$283.7M	$218.3M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	+0.026%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5201	−0.230%	$537K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0853%	1h	1.5298	+0.406%	$2K	$13K	10x	as long as short