Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Arcus+0.562%7-day average +0.011% · you sell dearer than you buy

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.415%−$41 · spread now +0.562%, 7d avg +0.011%

Together, before fees−0.422%+ Points / potential airdropVariational Omni: Active · farm board−$42 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.551% dearer against Arcus than usual: you sell high and buy low, +$55 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5602	0.0100	pay 0.0013% / 1h	37m 45s	$119K	$729K	20x
Short	Variational Omni XRP	1.5690	0.0100	get 0.0100% / 8h	1h 37m	$12.0M	$29.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Arcus. 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 ArcusbpFee Variational OmnibpOrdersPrice spread, now +0.562%Rate

Funding earned: $0
Price spread: +0.562% → +0.011%: $55.06
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $50.56
Costs to cover: 0.045%
Break-even: from the start

Slippage unknown: Arcus: live order book, 46 min ago; Variational Omni: RFQ quote, 1 min ago. 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 Arcus live order book, 46 min ago	1.30 bp	5.3 bp −$5	8.4 bp −$84	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.01 bp	doesn't fit	5.8 bp −$58	28.4 bp −$2,835	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	1.5649	+0.301%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5594	−0.053%	$1.1M	$104K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5617	+0.096%	$9.7M	$25.1M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5653	+0.328%	$262K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−2.000%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5606	+0.026%	$15.6M	$68.0M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5643	+0.263%	$81K	$938K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0134%	1h	1.5653	+0.325%	$922K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5594	−0.049%	$3.0M	$11.9M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5600	−0.013%	$461K	$3.1M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5674	+0.465%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5606	+0.026%	$39.7M	$76.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5594	−0.051%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5589	−0.083%	$562.8M	$1.94B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5592	−0.064%	$351.0M	$880.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5593	−0.058%	$127.4M	$872.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5693	+0.583%	$584K	$41K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5602	long leg	$119K	$729K	20x
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.519%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5595	−0.045%	$374.4M	$137.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5591	−0.071%	$293.2M	$836.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5592	−0.062%	$114.9M	$156.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5596	−0.038%	$271.3M	$357.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5591	−0.071%	—	$3.7M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5690	+0.562%	$12.0M	$29.9M	—
edgeX XRPUSDC	+0.0100%	4h	1.5681	+0.505%	$681K	$99.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5652	+0.322%	$1.1M	$41.6M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5674	+0.461%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5660	+0.370%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5676	+0.474%	$47K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5653	+0.327%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5645	+0.273%	$842K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5668	+0.420%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5613	+0.071%	$31K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5604	+0.014%	$51.3M	$15.2M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5614	+0.077%	$55.6M	$29.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5592	−0.063%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5601	−0.006%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5592	−0.065%	$2.2M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5615	+0.083%	$73K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0120%	1h	1.5683	+0.519%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0160%	1h	1.5675	+0.468%	$9K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5661	+0.377%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5619	+0.109%	$5.8M	$46.7M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5633	+0.199%	$24.5M	$72.9M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0315%	1h	1.5625	+0.147%	$1.8M	$972K	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5650	+0.308%	$1.9M	$32.3M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5730	+0.820%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5608	+0.038%	$509K	$615K	10x	as long as short
Hyperliquid XRP	+0.0616%	1h	1.5617	+0.096%	$291.2M	$199.4M	20x	as long as short
Aftermath Perps XRPUSD	+0.0647%	1h	1.5674	+0.460%	$1K	$11K	10x	as long as short