Funding arb · Price arb /

XRP

all XRP markets

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: Kalshi against Pacifica+0.044%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

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

Long on Pacifica Short on Kalshi

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)+0.142%+$14 · spread now +0.044%, 7d avg +0.045%

Together, before fees+0.166%+ Points / potential airdropPacifica: Active · farm board+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

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	Pacifica XRP	1.5250	0.0100	pay 0.0013% / 1h	2m 10s	$627K	$1.1M	20x
Short	Kalshi KXXRPPERP	1.5257	0.0322	get 0.0322% / 8h	3h 02m	$2.0M	$34.8M	2.9x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Pacifica. 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 PacificabpFee KalshibpOrdersPrice spread, now +0.044%Rate

Funding earned: $46.53
Price spread: +0.044% → +0.045%: −$0.04
Slippage, 4 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $16.49
Costs to cover: 0.300%
Break-even: 4.5 days

Slippage from Pacifica: live order book, 2 min ago; Kalshi: live order book, 2 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 Pacifica live order book, 2 min ago	1.97 bp	6.5 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	2.29 bp	9.1 bp −$9	12.0 bp −$120	20.3 bp −$2,028	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	1.5241	−0.061%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5241	−0.064%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5246	−0.025%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0012%	1h	1.5249	−0.008%	$9.2M	$24.5M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0019% / S +0.0071%	1h	1.5246	−0.027%	$835K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.031%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5254	+0.025%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5243	−0.048%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5253	+0.017%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5251	+0.005%	$510K	$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	1.5245	−0.034%	$9K	$282K	20x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5237	−0.087%	$475K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5253	+0.017%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5242	−0.054%	$38.5M	$83.4M	100x	as long as short
Pacifica XRPlong	+0.0100%	1h	1.5250	long leg	$627K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5250	−0.002%	$538.8M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5245	−0.034%	$340.4M	$920.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5245	−0.034%	$123.1M	$864.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5215	−0.231%	$571K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5235	−0.100%	$114K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.652%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5246	−0.028%	$366.8M	$153.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5243	−0.048%	$301.7M	$918.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5250	−0.003%	$110.4M	$167.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5248	−0.015%	$267.5M	$376.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5244	−0.041%	—	$3.7M	—	as long as short
Variational Omni XRP	+0.0100%	8h	1.5315	+0.422%	$6.5M	$35.6M	—	as long as short
edgeX XRPUSDC	+0.0100%	4h	1.5348	+0.642%	$666K	$106.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.508%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5318	+0.444%	$1.2M	$998K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5247	−0.019%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5249	−0.008%	$45K	$448K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5250	+0.001%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5257	+0.047%	$821K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5256	+0.041%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5243	−0.048%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5240	−0.067%	$50.0M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5251	+0.005%	$54.1M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5249	−0.008%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5253	+0.019%	$59K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5242	−0.053%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5232	−0.120%	$24.0M	$73.7M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5248	−0.015%	$5.7M	$46.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0245%	1h	1.5242	−0.052%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0302%	1h	1.5254	+0.025%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5315	+0.427%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERPshort	+0.0322%	8h	1.5257	+0.044%	$2.0M	$34.8M	2.9x
Hyperliquid XRP	+0.0361%	1h	1.5258	+0.051%	$287.4M	$215.8M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5330	+0.523%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5239	−0.072%	$539K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0851%	1h	1.5311	+0.398%	$2K	$13K	10x	as long as short