Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Variational Omni against dYdX+0.286%7-day average +0.010% · you sell dearer than you buy

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

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now +0.286%, 7d avg +0.010%

Together, before fees−0.017%+ Points / potential airdropVariational Omni: Active · farm board−$2 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 0.276% dearer against dYdX than usual: you sell high and buy low: +$28 more if the spread goes back to its 7-day average of +0.010%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5550	0	get 0.0000% / 1h	34m 19s	$1.1M	$104K	10x
Short	Variational Omni XRP	1.5595	0.0100	get 0.0100% / 8h	1h 34m	$11.8M	$30.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now +0.286%Rate

Funding earned: $21
Price spread: +0.286% → +0.010%: $27.6
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $38.6
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: dYdX: 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 dYdX live order book, 5 min ago	20.14 bp	25.1 bp −$25	25.1 bp −$251	30.6 bp −$3,057	85.0 bp −$42.5K
Sell Variational Omni RFQ quote, 5 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	1.5561	+0.069%	$7K	$2K	20x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5550	long leg	$1.1M	$104K	10x
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5542	−0.053%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5532	−0.119%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.674%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5545	−0.032%	$15.6M	$68.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0053%	8h	1.5541	−0.060%	$78K	$941K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0082% / S +0.0130%	1h	1.5530	−0.132%	$915K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5543	−0.046%	$3.0M	$12.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5558	+0.050%	$456K	$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	1.5496	−0.346%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5512	−0.243%	$39.4M	$77.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5556	+0.040%	$671K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5520	−0.198%	$558.9M	$1.95B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5533	−0.111%	$349.1M	$886.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5540	−0.066%	$127.2M	$873.2M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5561	+0.069%	$580K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5548	−0.015%	$118K	$732K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5683	+0.853%	$1.7M	$616K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5517	−0.214%	$374.5M	$138.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5497	−0.343%	$289.4M	$840.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5506	−0.284%	$113.7M	$157.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5542	−0.053%	$270.5M	$359.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5533	−0.111%	—	$116.9M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5595	+0.286%	$11.8M	$30.1M	—
edgeX XRPUSDC	+0.0100%	4h	1.5600	+0.318%	$677K	$100.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5597	+0.300%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5645	+0.609%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5515	−0.228%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5500	−0.323%	$46K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5504	−0.297%	$42K	$64K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5542	−0.054%	$837K	$79K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5509	−0.266%	$130K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5541	−0.060%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5525	−0.162%	$51.0M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5540	−0.066%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5555	+0.029%	$485K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5534	−0.105%	$12K	$249K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5540	−0.068%	$2.2M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5541	−0.061%	$72K	$40K	3x	as long as short
Hibachi XRP/USDT-P	+0.0144%	1h	1.5580	+0.194%	$18K	$81K	7x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5528	−0.143%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5495	−0.356%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5552	+0.011%	$5.8M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5551	+0.005%	$24.5M	$73.2M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0282%	1h	1.5571	+0.133%	$1.8M	$978K	25x	as long as short
Kalshi KXXRPPERP	+0.0317%	8h	1.5564	+0.088%	$1.9M	$32.4M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5600	+0.320%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5544	−0.041%	$509K	$621K	10x	as long as short
Hyperliquid XRP	+0.0596%	1h	1.5516	−0.221%	$290.0M	$200.2M	20x	as long as short
Aftermath Perps XRPUSD	+0.0697%	1h	1.5607	+0.364%	$1K	$11K	10x	as long as short