Yes, there are actually several power meters you can install on a SRAM RED AXS crankset.
To begin with, we are referring to the latest generation SRAM RED AXS cranks, pictured below. These cranks use the SRAM 8-bolt interface and are available in DUB and GXP versions. (The power meters we mention in this article will not fit if you have a previous version of SRAM RED crank arm.)
SRAM RED AXS Cranks
SRAM RED AXS Power Meter Spider
When most people refer to “SRAM RED power meter”, they are talking about the SRAM RED AXS Power Meter Spider. This power meter spider bolts right on to SRAM RED DUB and GXP cranks. It features a 1-piece fully integrated power meter spider and chainrings, which makes it lightweight and stiff. We also like that the power meter measures power from both legs as well as provides left vs. right power balance. This power meter also comes in an 1x aero version.
SRAM RED AXS Power Meter Spider
Quarq DZero and DFour DUB Power Meters
However, Quarq also makes the DZero Power Meter and the DFour Power Meter which are also fully compatible with SRAM RED AXS cranksets. Unlike the RED AXS Spider (above) that uses integrated chainrings, the DZero and the DFour power meter spiders use standard, replaceable chainrings. The DZero fits 110 BCD 5-bolt and 130 BCD 5-bolt chainrings, whereas the DFour fits 110 BCD 4-bolt (Shimano) chainrings. Both of these options are a bit more affordable than the SRAM RED AXS Power Meter Spider.