Funding you earn now, next payment 00:00 UTC−0.0484%/8h= −53.0% APRpaid last 24h −0.075%
Price spread now: Variational Omni against Hyperliquid+0.050%7-day average −0.046% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.106%−$11 on $10k
+Price spread, last 7 days−0.064%−$6 · spread now +0.050%, 7d avg −0.046%
=Together, before fees−0.170%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board−$17 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Variational Omni is 0.096% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of −0.046%): +$10 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 16 hours. At the pace of the last 3 days (−0.106% in total) that is about 3.0 days.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.106% in total (about -11.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid XRP | 1.5462 | 0.0584 | pay 0.0073% / 1h | 34m 01s | $293.6M | $211.1M | 20x |
| Short | Variational Omni XRP | 1.5470 | 0.0100 | get 0.0100% / 8h | 34m 01s | $11.5M | $30.6M | — |
Hyperliquid XRP
Variational Omni XRPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Hyperliquid. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$101.63
- Price spread: +0.050% → −0.046%
- $9.57
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$101.07
- Costs to cover
- 0.090%
- Break-even
- from the start
Slippage unknown: Hyperliquid: live order book, 10 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 Hyperliquid live order book, 10 min ago | 0.32 bp | 4.8 bp −$5 | 5.6 bp −$56 | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 5 min ago | 2.03 bp | doesn't fit | 2.7 bp −$27 | 20.2 bp −$2,016 | 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 | 1.5441 | −0.136% | $7K | $2K | 20x | as long as short |
| dYdX XRP-USD | 0.0000% | 1h | 1.5446 | −0.103% | $1.1M | $113K | 10x | as long as short |
| Phoenix XRP | 0.0000% | 1h | 1.5490 | +0.181% | $69K | $90K | 15x | as long as short |
| Deribit XRP_USDC-PERPETUAL | 0.0000% | 1h | 1.5448 | −0.091% | $9.5M | $25.4M | 50x | as long as short |
| gTrade (Gains Network) XRP/USD | L +0.0003% / S −0.0004% | 1h | 1.5444 | −0.118% | $267K | — | 150x | as long as short |
| GMX XRP/USD [ETH-USDC] | L +0.0008% / S +0.0101% | 1h | 1.5442 | −0.127% | $849K | — | 200x | as long as short |
| Kraken Futures PF_XRPUSD | +0.0032% | 1h | 1.5446 | −0.103% | $15.2M | $69.3M | 50x | as long as short |
| Orderly PERP_XRP_USDC | +0.0057% | 8h | 1.5444 | −0.116% | $76K | $910K | 50x | as long as short |
| Injective XRP/USDC PERP | +0.0089% | 1h | 1.5560 | +0.634% | $2K | $107K | 30x | as long as short |
| Lighter XRP | +0.0096% | 1h | 1.5449 | −0.085% | $3.0M | $12.6M | 20x | as long as short |
Hotstuff XRP-PERP
dYdX XRP-USD
Phoenix XRP
Deribit XRP_USDC-PERPETUAL
gTrade (Gains Network) XRP/USD
GMX XRP/USD [ETH-USDC]
Kraken Futures PF_XRPUSD
Orderly PERP_XRP_USDC
Injective XRP/USDC PERP
Lighter XRPShow all 51 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XRP | +0.0096% | 1h | 1.5449 | −0.084% | $440K | $3.1M | 20x | as long as short |
| Nado XRP-PERP | +0.0100% | 1h | 1.5439 | −0.146% | $1.1M | $5.4M | 20x | as long as short |
| Aster XRPUSDT | +0.0100% | 8h | 1.5447 | −0.097% | $39.3M | $80.7M | 100x | as long as short |
| Pacifica XRP | +0.0100% | 1h | 1.5448 | −0.088% | $636K | $1.1M | 20x | as long as short |
| Binance XRPUSDT | +0.0100% | 8h | 1.5448 | −0.091% | $552.5M | $2.03B | 100x | as long as short |
| Bybit XRPUSDT | +0.0100% | 8h | 1.5448 | −0.091% | $345.9M | $919.8M | 100x | as long as short |
| OKX XRP-USDT-SWAP | +0.0100% | 8h | 1.5447 | −0.097% | $126.4M | $882.9M | 100x | as long as short |
| Ondo Perps XRP-USD.P | +0.0100% | 1h | 1.5473 | +0.071% | $576K | $42K | 5x | as long as short |
| Arcus XRP-USD | +0.0100% | 1h | 1.5452 | −0.065% | $116K | $756K | 20x | as long as short |
| Bulk XRP-USD | +0.0100% | 1h | 1.5506 | +0.284% | $1.7M | $573K | 20x | as long as short |
| Gate XRP_USDT | +0.0100% | 8h | 1.5447 | −0.097% | $372.6M | $144.6M | 100x | as long as short |
| MEXC XRP_USDT | +0.0100% | 8h | 1.5446 | −0.103% | $298.9M | $877.0M | 300x | as long as short |
| KuCoin XRPUSDTM | +0.0100% | 8h | 1.5447 | −0.098% | $111.9M | $163.9M | 75x | as long as short |
| Bitget XRPUSDT | +0.0100% | 8h | 1.5446 | −0.103% | $269.5M | $372.2M | 125x | as long as short |
| BingX XRP-USDC | +0.0100% | 8h | 1.5449 | −0.084% | — | $3.7M | — | as long as short |
| Variational Omni XRPshort | +0.0100% | 8h | 1.5470 | +0.050% | $11.5M | $30.6M | — | |
| edgeX XRPUSDC | +0.0100% | 4h | 1.5479 | +0.107% | $672K | $104.1M | 30x | as long as short |
| GRVT XRP_USDT_Perp | +0.0100% | 8h | 1.5470 | +0.053% | $1.1M | $40.5M | 20x | as long as short |
| ApeX Omni XRPUSDT | +0.0100% | 1h | 1.5481 | +0.123% | $1.0M | $900K | 50x | as long as short |
| Vest XRP-PERP | +0.0100% | 1h | 1.5446 | −0.105% | — | $10K | 10x | as long as short |
| Polymarket Perps XRP-USD | +0.0100% | 1h | 1.5444 | −0.116% | $47K | $455K | 20x | as long as short |
| Bullet XRP-USD | +0.0100% | 1h | 1.5445 | −0.110% | $41K | $67K | 20x | as long as short |
| Derive XRP-PERP | +0.0100% | 1h | 1.5446 | −0.104% | $831K | $81K | 10x | as long as short |
| SunX XRP-USDT | +0.0100% | 8h | 1.5451 | −0.074% | $130K | $1.8M | 30x | as long as short |
| SoDEX XRP-USD | +0.0100% | 1h | 1.5446 | −0.103% | $32K | $1.8M | 10x | as long as short |
| HTX XRP-USDT | +0.0100% | 8h | 1.5442 | −0.127% | $50.7M | $15.5M | 75x | as long as short |
| Phemex XRPUSDT | +0.0100% | 8h | 1.5446 | −0.103% | $54.9M | $29.4M | 50x | as long as short |
| Paradex XRP-USD-PERP | +0.0100% | 8h | 1.5449 | −0.082% | $482K | $54K | 50x | as long as short |
| Katana Perps XRP-USD | +0.0101% | 8h | 1.5451 | −0.071% | $12K | $267K | 20x | as long as short |
| Extended XRP-USD | +0.0104% | 1h | 1.5444 | −0.118% | $2.1M | $7.1M | 50x | as long as short |
| Aevo XRP-PERP | +0.0104% | 1h | 1.5442 | −0.126% | $72K | $40K | 3x | as long as short |
| 01 Exchange XRPUSD | +0.0168% | 1h | 1.5454 | −0.052% | $8K | $8K | 10x | as long as short |
| Reya XRPRUSDPERP | +0.0212% | 1h | 1.5444 | −0.116% | $1.4M | $8K | 15x | as long as short |
| BloFin XRP-USDT | +0.0220% | 8h | 1.5451 | −0.071% | $24.5M | $74.3M | 125x | as long as short |
| Coinbase International XRP-PERP-INTX | +0.0224% | 1h | 1.5451 | −0.071% | $5.9M | $47.3M | 50x | as long as short |
| Hibachi XRP/USDT-P | +0.0264% | 1h | 1.5461 | −0.009% | $18K | $82K | 7x | as long as short |
| Backpack XRP_USDC_PERP | +0.0286% | 1h | 1.5456 | −0.039% | $1.7M | $1.0M | 25x | as long as short |
| Kalshi KXXRPPERP | +0.0309% | 8h | 1.5450 | −0.078% | $2.0M | $34.2M | 2.9x | as long as short |
| Hyperliquid XRPlong | +0.0584% | 1h | 1.5462 | long leg | $293.6M | $211.1M | 20x | |
| RISEx XRP/USDC | +0.0761% | 1h | 1.5457 | −0.033% | $502K | $633K | 10x | as long as short |
| Aftermath Perps XRPUSD | +0.0800% | 1h | 1.5497 | +0.226% | $1K | $11K | 10x | as long as short |
Lighter RH XRP
Nado XRP-PERP
Aster XRPUSDT
Pacifica XRP
Binance XRPUSDT
Bybit XRPUSDT
OKX XRP-USDT-SWAP
Ondo Perps XRP-USD.P
Arcus XRP-USD
Bulk XRP-USD
Gate XRP_USDT
MEXC XRP_USDT
KuCoin XRPUSDTM
Bitget XRPUSDT
BingX XRP-USDC
edgeX XRPUSDC
GRVT XRP_USDT_Perp
ApeX Omni XRPUSDT
Vest XRP-PERP
Polymarket Perps XRP-USD
Bullet XRP-USD
Derive XRP-PERP
SunX XRP-USDT
SoDEX XRP-USD
HTX XRP-USDT
Phemex XRPUSDT
Paradex XRP-USD-PERP
Katana Perps XRP-USD
Extended XRP-USD
Aevo XRP-PERP
01 Exchange XRPUSD
Reya XRPRUSDPERP
BloFin XRP-USDT
Coinbase International XRP-PERP-INTX
Hibachi XRP/USDT-P
Backpack XRP_USDC_PERP
Kalshi KXXRPPERP
RISEx XRP/USDC
Aftermath Perps XRPUSD