Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Bulk+0.339%7-day average −0.017% · you sell dearer than you buy

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

Long on Bulk Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.348%−$35 · spread now +0.339%, 7d avg −0.017%

Together, before fees−0.349%+ Points / potential airdropVariational Omni: Active · farm board−$35 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 0.356% dearer against Bulk than usual: you sell high and buy low, +$36 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5101	0.0100	pay 0.0013% / 1h	29m 28s	$1.6M	$307K	20x
Short	Variational Omni XRP	1.5152	0.0100	get 0.0100% / 8h	6h 29m	$6.2M	$35.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bulk. 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 BulkbpFee Variational OmnibpOrdersPrice spread, now +0.339%Rate

Funding earned: $0
Price spread: +0.339% → −0.017%: $35.57
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $28.57
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Bulk: live order book, 5 min ago; Variational Omni: RFQ quote, 5 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 Bulk live order book, 5 min ago	0.66 bp	4.2 bp −$4	5.4 bp −$54	13.0 bp −$1,300	31.4 bp −$15.7K
Sell Variational Omni RFQ quote, 5 min ago	2.01 bp	doesn't fit	2.7 bp −$27	24.1 bp −$2,406	doesn't fit

XRP on 50 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	1.5162	+0.404%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5166	+0.432%	$1.1M	$120K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5160	+0.391%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5151	+0.331%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0060%	1h	1.5151	+0.329%	$803K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.040%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5170	+0.458%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0071%	8h	1.5154	+0.351%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5171	+0.464%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5175	+0.490%	$517K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5159	+0.384%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5170	+0.460%	$870K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5170	+0.455%	$38.6M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5174	+0.483%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5155	+0.361%	$539.1M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5153	+0.344%	$341.7M	$940.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5153	+0.344%	$124.4M	$872.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5136	+0.232%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5174	+0.483%	$115K	$700K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5101	long leg	$1.6M	$307K	20x
Gate XRP_USDT	+0.0100%	8h	1.5155	+0.358%	$368.4M	$152.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5155	+0.358%	$289.8M	$911.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5156	+0.368%	$107.0M	$171.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5160	+0.391%	$265.8M	$383.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5153	+0.344%	—	$127.4M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5152	+0.339%	$6.2M	$35.7M	—
edgeX XRPUSDC	+0.0100%	4h	1.5154	+0.349%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5144	+0.288%	$1.1M	$38.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	+0.397%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5168	+0.447%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5169	+0.450%	$44K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5156	+0.362%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5166	+0.430%	$816K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5166	+0.430%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5172	+0.470%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5154	+0.352%	$49.7M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5172	+0.470%	$54.0M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5172	+0.471%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5164	+0.415%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5166	+0.430%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0136%	1h	1.5170	+0.457%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0212%	1h	1.5170	+0.457%	$7.7M	$25.3M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5157	+0.373%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5175	+0.490%	$5.7M	$46.7M	50x	as long as short
Hyperliquid XRP	+0.0219%	1h	1.5178	+0.510%	$281.5M	$222.7M	20x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5159	+0.387%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0351%	8h	1.5172	+0.470%	$2.1M	$35.9M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0361%	1h	1.5186	+0.563%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5174	+0.484%	$537K	$783K	10x	as long as short
Aftermath Perps XRPUSD	+0.0764%	1h	1.5149	+0.321%	$2K	$14K	10x	as long as short