Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Variational Omni against Derive−0.118%46s7-day average −0.020% · you buy dearer than you sell

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

Long on Derive Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.118%, 7d avg −0.020%

Together, before fees−0.007%+ Points / potential airdropVariational Omni: Active · farm board−$1 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 0.098% cheaper against Derive than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.020%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5350	0.0100	pay 0.0013% / 1h	15m 28s	$826K	$74K	10x
Short	Variational Omni XRP	1.5332	0.0100	get 0.0100% / 8h	7h 15m	$6.4M	$35.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Derive. 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 DerivebpFee Variational OmnibpOrdersPrice spread, now −0.118%Rate

Funding earned: $0
Price spread: −0.118% → −0.020%: −$9.85
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$15.85
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Variational Omni: RFQ quote, 4 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 Derive no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	2.02 bp	doesn't fit	6.5 bp −$65	24.9 bp −$2,494	doesn't fit

Derive: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5367	+0.109%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5363	+0.081%	$1.1M	$112K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5340	−0.067%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0017% / S +0.0075%	1h	1.5340	−0.067%	$841K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.366%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0063%	8h	1.5347	−0.021%	$58K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5354	+0.024%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5360	+0.063%	$2.8M	$14.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5363	+0.083%	$516K	$3.2M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5357	+0.044%	$9K	$280K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XRP-USD-PERP	+0.0100%	8h	1.5365	+0.094%	$479K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5355	+0.034%	$1.0M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5360	+0.066%	$38.8M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5366	+0.100%	$635K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5365	+0.096%	$543.0M	$2.05B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5364	+0.090%	$342.6M	$919.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5362	+0.077%	$125.0M	$868.5M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5317	−0.217%	$570K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5368	+0.116%	$117K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5274	−0.493%	$1.6M	$378K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5361	+0.070%	$375.1M	$151.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5362	+0.077%	$307.9M	$911.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5357	+0.047%	$110.6M	$166.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5362	+0.077%	$268.9M	$374.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5361	+0.070%	—	$3.7M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5332	−0.118%	$6.4M	$35.6M	—
edgeX XRPUSDC	+0.0100%	4h	1.5313	−0.246%	$665K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5336	−0.093%	$1.1M	$37.9M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5325	−0.164%	$1.2M	$997K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5355	+0.031%	—	$9K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5367	+0.109%	$49K	$444K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5360	+0.061%	$41K	$68K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5350	long leg	$826K	$74K	10x
SunX XRP-USDT	+0.0100%	8h	1.5344	−0.042%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5355	+0.031%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5344	−0.044%	$50.3M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5352	+0.011%	$54.6M	$29.6M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5359	+0.058%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5349	−0.010%	$59K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0206%	1h	1.5355	+0.031%	$9.3M	$25.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5359	+0.059%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5323	−0.177%	$24.1M	$73.6M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5360	+0.064%	$5.8M	$46.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5358	+0.049%	$14.6M	$70.2M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0299%	1h	1.5362	+0.077%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5337	−0.084%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5348	−0.015%	$2.0M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0382%	1h	1.5377	+0.172%	$289.8M	$214.9M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5320	−0.197%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0793%	1h	1.5332	−0.119%	$2K	$13K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5363	+0.084%	$543K	$773K	10x	as long as short