Funding you earn now, next payment 04:00 UTC+0.0214%/8h= +23.4% APRnext payment +$2.14 per $10,000 · paid last 24h +0.022%
Price spread now: Kalshi against Phemex+0.020%7-day average +0.034% · you sell dearer than you buy
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$35as in the Price arb table
costs, in and out, $10k−$340.339% of the position
Funding, last 7 days+0.071%+$7 on $10k
+Price spread, last 4 days (all we have)+0.186%+$19 · spread now +0.020%, 7d avg +0.034%
=The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: +$6 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 0.071% in total (about 3.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.14 per $10,000. 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 | Phemex XRPUSDT | 1.5114 | 0.0100 | pay 0.0100% / 8h | 4h 05m | $53.7M | $31.0M | 50x |
| Short | Kalshi KXXRPPERP | 1.5117 | 0.0314 | get 0.0314% / 8h | 5m 49s | $2.1M | $34.7M | 2.9x |
Phemex XRPUSDT
Kalshi KXXRPPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $44.97
- Price spread: +0.020% → +0.034%
- −$1.46
- Slippage, 4 orders
- −$11.94
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- $9.58
- Costs to cover
- 0.339%
- Break-even
- 5.5 days
Slippage from Phemex: live order book, 3 min ago; Kalshi: 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 Phemex live order book, 3 min ago | 0.99 bp | 8.4 bp −$8 | 10.8 bp −$108 | 20.2 bp −$2,016 | doesn't fit |
| Sell Kalshi live order book, 3 min ago | 1.98 bp | 8.4 bp −$8 | 10.8 bp −$108 | 17.8 bp −$1,780 | 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 | 1.5113 | −0.007% | $5K | $3K | 20x | as long as short |
| Kraken Futures PF_XRPUSD | −0.0071% | 1h | 1.5108 | −0.038% | $14.2M | $73.8M | 50x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5109 | −0.030% | $1.1M | $111K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5140 | +0.172% | $67K | $110K | 15x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5109 | −0.034% | $252K | — | 150x | as long as short |
| Deribit XRP_USDC-PERPETUAL | +0.0015% | 1h | 1.5115 | +0.007% | $7.7M | $25.5M | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0033% | 1h | 1.5560 | +2.951% | $2K | $107K | 30x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0046% / S +0.0020% | 1h | 1.5107 | −0.045% | $788K | — | 200x | as long as short |
| Orderly PERP_XRP_USDC | +0.0092% | 8h | 1.5111 | −0.020% | $62K | $934K | 50x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5117 | +0.018% | $2.8M | $14.6M | 20x | as long as short |
Hotstuff XRP-PERP
Kraken Futures PF_XRPUSD
dYdX XRP-USD
Phoenix XRP
gTrade (Gains Network) XRP/USD
Deribit XRP_USDC-PERPETUAL
Injective XRP/USDC PERP
GMX XRP/USD [ETH-USDC]
Orderly PERP_XRP_USDC
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5117 | +0.020% | $497K | $3.3M | 20x | as long as short |
| Katana Perps XRP-USD | +0.0098% | 8h | 1.5107 | −0.046% | $10K | $330K | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5113 | −0.003% | $1.1M | $6.0M | 20x | as long as short |
| Hyperliquid XRP | +0.0100% | 1h | 1.5125 | +0.073% | $280.0M | $227.9M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5113 | −0.008% | $38.2M | $83.7M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5113 | −0.007% | $606K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5112 | −0.011% | $532.0M | $2.12B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5113 | −0.007% | $344.8M | $937.1M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5115 | +0.007% | $126.7M | $873.2M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5096 | −0.119% | $563K | $28K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5114 | 0.000% | $110K | $712K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5130 | +0.109% | $1.6M | $49K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5110 | −0.026% | $368.3M | $154.8M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5109 | −0.033% | $292.9M | $903.6M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5111 | −0.017% | $107.6M | $175.1M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5112 | −0.013% | $267.5M | $385.0M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5111 | −0.020% | — | $4.2M | — | as long as short |
| Variational Omni XRP | +0.0100% | 8h | 1.5110 | −0.027% | $5.2M | $37.7M | — | as long as short |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5141 | +0.182% | $658K | $108.5M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5130 | +0.106% | $1.1M | $36.0M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5147 | +0.218% | $1.2M | $1.1M | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5114 | +0.001% | — | $11K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5112 | −0.013% | $44K | $454K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5112 | −0.013% | $41K | $68K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5113 | −0.007% | $813K | $72K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5116 | +0.016% | $126K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5113 | −0.007% | $28K | $1.7M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5107 | −0.046% | $49.4M | $15.7M | 75x | as long as short |
| Phemex XRPUSDTlong | +0.0100% | 8h | 1.5114 | long leg | $53.7M | $31.0M | 50x | |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5113 | −0.004% | $471K | $55K | 50x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5108 | −0.038% | $2.0M | $6.8M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5111 | −0.021% | $58K | $25K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0112% | 1h | 1.5116 | +0.013% | $8K | $8K | 10x | as long as short |
| Backpack XRP_USDC_PERP | +0.0185% | 1h | 1.5119 | +0.033% | $2.0M | $1.4M | 25x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0192% | 1h | 1.5117 | +0.020% | $5.6M | $47.0M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0208% | 1h | 1.5124 | +0.065% | $17K | $82K | 7x | as long as short |
| Reya XRPRUSDPERP | +0.0216% | 1h | 1.5109 | −0.032% | $1.3M | $7K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5118 | +0.026% | $24.2M | $75.9M | 125x | as long as short |
| Kalshi KXXRPPERPshort | +0.0314% | 8h | 1.5117 | +0.020% | $2.1M | $34.7M | 2.9x | |
| RISEx XRP/USDC | +0.0352% | 1h | 1.5116 | +0.016% | $515K | $773K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0702% | 1h | 1.5133 | +0.125% | $2K | $15K | 10x | as long as short |
Lighter RH XRP
Katana Perps XRP-USD
Nado XRP-PERP
Hyperliquid XRP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
Variational Omni XRP
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Paradex XRP-USD-PERP
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Backpack XRP_USDC_PERP
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
Reya XRPRUSDPERP
BloFin XRP-USDT
RISEx XRP/USDC
Aftermath Perps XRPUSD