Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bulk against Variational Omni−0.666%7-day average +0.012% · you buy dearer than you sell

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

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days+0.671%+$67 · spread now −0.666%, 7d avg +0.012%

Together, before fees+0.677%+ Points / potential airdropVariational Omni: Active · farm board+$68 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: Bulk is 0.678% cheaper against Variational Omni than usual: you would sell low and buy high, −$68 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5558	0.0100	pay 0.0100% / 8h	1h 53m	$11.8M	$29.8M	—
Short	Bulk XRP-USD	1.5455	0.0100	get 0.0013% / 1h	53m 28s	$1.7M	$470K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. 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 Variational OmnibpFee BulkbpOrdersPrice spread, now −0.666%Rate

Funding earned: $0
Price spread: −0.666% → +0.012%: −$67.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: −$74.75
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Bulk: live order book, 1 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 Variational Omni RFQ quote, 1 min ago	2.05 bp	doesn't fit	5.0 bp −$50	29.7 bp −$2,971	doesn't fit
Sell Bulk live order book, 1 min ago	0.32 bp	3.8 bp −$4	3.8 bp −$38	7.4 bp −$742	19.9 bp −$9,941

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	1.5618	+0.385%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5587	+0.183%	$1.1M	$101K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5606	+0.307%	$261K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0006%	1h	1.5610	+0.333%	$9.6M	$25.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0032%	1h	1.5613	+0.354%	$19K	$73K	7x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.724%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5610	+0.330%	$15.5M	$67.1M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0051%	8h	1.5612	+0.346%	$82K	$935K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0079% / S +0.0152%	1h	1.5605	+0.302%	$919K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5600	+0.267%	$3.0M	$11.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5601	+0.275%	$463K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5591	+0.208%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5597	+0.251%	$39.8M	$74.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5595	+0.236%	$680K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5583	+0.157%	$564.7M	$1.91B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5591	+0.211%	$353.9M	$866.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5590	+0.205%	$127.7M	$867.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5587	+0.185%	$578K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5592	+0.217%	$120K	$720K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5455	−0.666%	$1.7M	$470K	20x
Gate XRP_USDT	+0.0100%	8h	1.5589	+0.198%	$371.2M	$134.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5594	+0.230%	$289.1M	$816.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5582	+0.154%	$112.8M	$152.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5583	+0.160%	$270.0M	$351.8M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5580	+0.140%	—	$115.0M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5558	long leg	$11.8M	$29.8M	—
edgeX XRPUSDC	+0.0100%	4h	1.5597	+0.251%	$677K	$97.5M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5625	+0.429%	$1.1M	$41.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5608	+0.320%	$1.0M	$881K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5584	+0.166%	$52K	$436K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5581	+0.148%	$42K	$62K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5608	+0.321%	$840K	$71K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5611	+0.342%	$131K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5607	+0.314%	$30K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5600	+0.268%	$51.3M	$15.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5600	+0.269%	$55.5M	$28.7M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5590	+0.202%	—	$10K	10x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5594	+0.229%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5589	+0.198%	$12K	$247K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5577	+0.121%	$2.2M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5606	+0.307%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5588	+0.192%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5584	+0.163%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5612	+0.346%	$5.7M	$46.0M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5645	+0.558%	$24.5M	$71.6M	125x	as long as short
Kalshi KXXRPPERP	+0.0340%	8h	1.5636	+0.500%	$1.9M	$32.0M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0449%	1h	1.5608	+0.320%	$1.8M	$981K	25x	as long as short
Phoenix XRP	+0.0516%	1h	1.5620	+0.397%	$70K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5591	+0.209%	$407K	$529K	10x	as long as short
Aftermath Perps XRPUSD	+0.0541%	1h	1.5538	−0.127%	$1K	$11K	10x	as long as short
Hyperliquid XRP	+0.0687%	1h	1.5608	+0.320%	$288.6M	$194.2M	20x	as long as short