Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.120%

Price spread now: Variational Omni against RISEx−0.098%7-day average −0.042% · you buy dearer than you sell

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

Long on RISEx Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.320%−$32 on $10k

Price spread, last 4 days (all we have)+0.459%+$46 · spread now −0.098%, 7d avg −0.042%

Together, before fees+0.139%+ Points / potential airdropVariational Omni: Active · farm board+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Variational Omni is 0.056% cheaper against RISEx than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.042%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XRP/USDC	1.5143	0.0352	pay 0.0044% / 1h	42m 36s	$516K	$780K	10x
Short	Variational Omni XRP	1.5129	0.0100	get 0.0100% / 8h	4h 42m	$5.4M	$37.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against RISEx. 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 RISExbpFee Variational OmnibpOrdersPrice spread, now −0.098%Rate

Funding earned: −$52.93
Price spread: −0.098% → −0.042%: −$5.6
Slippage, 4 orders: no order book: not counted
Fee RISEx: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$64.52
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: RISEx: live order book, 16 min ago; Variational Omni: RFQ quote, 2 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 RISEx live order book, 16 min ago	1.42 bp	4.4 bp −$4	9.2 bp −$92	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.05 bp	doesn't fit	5.9 bp −$59	20.8 bp −$2,085	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	1.5145	+0.010%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5137	−0.041%	$14.3M	$73.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5150	+0.040%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	−0.023%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5140	−0.023%	$7.7M	$25.6M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5147	+0.023%	$253K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.750%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0039% / S +0.0031%	1h	1.5146	+0.017%	$788K	—	200x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5145	+0.010%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0079%	8h	1.5136	−0.050%	$62K	$935K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5146	+0.019%	$2.8M	$14.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5149	+0.036%	$510K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0097%	8h	1.5135	−0.056%	$10K	$321K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5147	+0.020%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5154	+0.071%	$281.5M	$225.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5145	+0.012%	$38.3M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5149	+0.037%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5138	−0.036%	$533.1M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5138	−0.036%	$344.6M	$931.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5141	−0.017%	$125.8M	$873.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5133	−0.069%	$562K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5106	−0.248%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5146	+0.015%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5146	+0.017%	$369.8M	$153.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5149	+0.036%	$289.5M	$896.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5152	+0.055%	$108.0M	$173.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5145	+0.010%	$267.9M	$383.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5146	+0.017%	—	$126.6M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5129	−0.098%	$5.4M	$37.4M	—
edgeX XRPUSDC	+0.0100%	4h	1.5113	−0.203%	$656K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.036%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5142	−0.010%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	+0.047%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5152	+0.056%	$43K	$453K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5145	+0.012%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5136	−0.052%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5145	+0.007%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5140	−0.023%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5155	+0.074%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5141	−0.017%	$54.0M	$30.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5146	+0.018%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5136	−0.052%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5137	−0.043%	$58K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0152%	1h	1.5165	+0.141%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0172%	1h	1.5147	+0.023%	$1.9M	$1.3M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5141	−0.017%	$5.6M	$47.1M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5143	−0.005%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5138	−0.036%	$24.1M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0319%	8h	1.5152	+0.056%	$2.1M	$34.4M	2.9x	as long as short
RISEx XRP/USDClong	+0.0352%	1h	1.5143	long leg	$516K	$780K	10x
Aftermath Perps XRPUSD	+0.0664%	1h	1.5146	+0.016%	$2K	$15K	10x	as long as short