Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Phemex−0.023%7-day average −0.022% · you buy dearer than you sell

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 3 days (all we have)−0.192%−$19 · spread now −0.023%, 7d avg −0.022%

Together, before fees−0.192%+ Points / potential airdropVariational Omni: Active · farm board−$19 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XRPUSDT	1.5350	0.0100	pay 0.0100% / 8h	7h 58m	$54.7M	$29.7M	50x
Short	Variational Omni XRP	1.5346	0.0100	get 0.0100% / 8h	7h 58m	$6.4M	$35.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. 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 PhemexbpFee Variational OmnibpOrdersPrice spread, now −0.023%Rate

Funding earned: $0
Price spread: −0.023% → −0.022%: −$0.12
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$12.12
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 5 min ago; Variational Omni: RFQ quote, just now. 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 Phemex live order book, 5 min ago	0.98 bp	10.3 bp −$10	12.6 bp −$126	23.7 bp −$2,371	doesn't fit
Sell Variational Omni RFQ quote, just now	2.02 bp	doesn't fit	2.0 bp −$20	19.0 bp −$1,901	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	1.5368	+0.117%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5363	+0.083%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	0.000%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5354	+0.028%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0008% / S +0.0089%	1h	1.5354	+0.025%	$842K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5363	+0.085%	$9.3M	$25.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.368%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5362	+0.078%	$75K	$910K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5332	−0.119%	$2.9M	$13.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5340	−0.065%	$513K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XRPUSDT	+0.0100%	8h	1.5342	−0.053%	$38.8M	$83.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5353	+0.020%	$634K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5352	+0.013%	$540.4M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5351	+0.007%	$340.0M	$933.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5347	−0.020%	$125.5M	$886.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5320	−0.195%	$571K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5355	+0.033%	$117K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5333	−0.110%	$1.7M	$570K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5349	−0.007%	$372.4M	$147.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5349	−0.007%	$300.1M	$888.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5353	+0.020%	$109.7M	$167.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5348	−0.013%	$268.7M	$378.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5353	+0.020%	—	$123.1M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5346	−0.023%	$6.4M	$35.5M	—
edgeX XRPUSDC	+0.0100%	4h	1.5347	−0.023%	$666K	$106.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5369	+0.124%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5352	+0.013%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5360	+0.063%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5364	+0.091%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5357	+0.049%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5364	+0.089%	$827K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5365	+0.096%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5359	+0.059%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5356	+0.042%	$50.4M	$15.7M	75x	as long as short
Phemex XRPUSDTlong	+0.0100%	8h	1.5350	long leg	$54.7M	$29.7M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5361	+0.069%	$479K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5344	−0.042%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5362	+0.075%	$72K	$2K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5360	+0.062%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5351	+0.007%	$24.0M	$75.0M	125x	as long as short
01 Exchange XRPUSD	+0.0224%	1h	1.5360	+0.065%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5366	+0.104%	$5.8M	$47.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0230%	1h	1.5350	0.000%	$1.7M	$1.2M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5362	+0.078%	$14.9M	$70.3M	50x	as long as short
Nado XRP-PERP	+0.0287%	1h	1.5360	+0.068%	$1.0M	$5.6M	20x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5367	+0.109%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0316%	8h	1.5367	+0.111%	$2.2M	$35.2M	2.9x	as long as short
Hyperliquid XRP	+0.0491%	1h	1.5365	+0.098%	$291.0M	$216.7M	20x	as long as short
Aftermath Perps XRPUSD	+0.0773%	1h	1.5350	+0.003%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5360	+0.067%	$512K	$753K	10x	as long as short