Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0086%/8h= +9.4% APRpaid last 24h +0.024%

Price spread now: Variational Omni against Deribit−0.015%7-day average −0.041% · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.026%+$3 on $10k

Price spread, last 4 days (all we have)−0.198%−$20 · spread now −0.015%, 7d avg −0.041%

Together, before fees−0.172%+ Points / potential airdropVariational Omni: Active · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Variational Omni is 0.026% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5132	0.0014	pay 0.0002% / 1h	9m 19s	$7.7M	$25.6M	50x
Short	Variational Omni XRP	1.5130	0.0100	get 0.0100% / 8h	3h 09m	$4.8M	$38.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.015%Rate

Funding earned: $18.06
Price spread: −0.015% → −0.041%: $2.59
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $13.65
Costs to cover: 0.070%
Break-even: 1.7 days

Slippage unknown: Deribit: 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 Deribit live order book, 5 min ago	0.66 bp	6.1 bp −$6	8.2 bp −$82	46.7 bp −$4,672	doesn't fit
Sell Variational Omni RFQ quote, 5 min ago	2.01 bp	doesn't fit	4.3 bp −$43	20.8 bp −$2,084	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	1.5130	−0.013%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5123	−0.060%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5105	−0.178%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0014%	1h	1.5132	long leg	$7.7M	$25.6M	50x
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5127	−0.030%	$14.4M	$74.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.828%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5104	−0.186%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5131	−0.005%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5127	−0.033%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5122	−0.066%	$10K	$351K	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	1.5119	−0.083%	$961K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5102	−0.200%	$38.8M	$85.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5126	−0.042%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5102	−0.198%	$532.0M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5098	−0.225%	$343.1M	$946.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5099	−0.218%	$125.3M	$882.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5110	−0.145%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5127	−0.033%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	+0.042%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5106	−0.172%	$373.6M	$157.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5103	−0.192%	$295.7M	$908.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5124	−0.056%	$109.0M	$178.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5118	−0.093%	$268.4M	$390.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5105	−0.178%	—	$127.9M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5130	−0.015%	$4.8M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5144	+0.079%	$658K	$110.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5137	+0.035%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5150	+0.119%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5121	−0.074%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5120	−0.079%	$44K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5103	−0.190%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5096	−0.238%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5098	−0.226%	$812K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5130	−0.011%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5128	−0.026%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5126	−0.042%	$49.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5129	−0.020%	$53.8M	$31.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5130	−0.014%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5112	−0.135%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5094	−0.249%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5126	−0.040%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5135	+0.020%	$5.7M	$48.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0197%	8h	1.5139	+0.046%	$1.9M	$35.3M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5109	−0.152%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5132	0.000%	$24.3M	$75.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0240%	1h	1.5133	+0.007%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0288%	1h	1.5128	−0.026%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5125	−0.046%	$516K	$777K	10x	as long as short
Hyperliquid XRP	+0.0389%	1h	1.5132	0.000%	$295.9M	$252.6M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5140	+0.053%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0662%	1h	1.5144	+0.081%	$2K	$15K	10x	as long as short