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% APRpaid last 24h 0.000%

Price spread now: Bullet against Variational Omni+0.110%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bullet is 0.110% dearer against Variational Omni than usual: you sell high and buy low, +$11 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5167	0.0100	pay 0.0100% / 8h	7h 59m	$4.8M	$38.8M	—
Short	Bullet XRP-USD	1.5184	0.0100	get 0.0013% / 1h	59m 43s	$41K	$69K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet 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 BulletbpOrdersPrice spread, now +0.110%Rate

Funding earned: $0
Price spread: +0.110% → 0.000%: $11.03
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bullet: 4 bp × 2 orders: −$8
Net: $3.03
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bullet: no order-book sample. 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, 4 min ago	2.01 bp	doesn't fit	3.5 bp −$35	21.6 bp −$2,164	doesn't fit
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5184	+0.109%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5183	+0.105%	$1.1M	$148K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5188	+0.135%	$7.7M	$24.0M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5184	+0.108%	$247K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.588%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0078%	1h	1.5185	+0.117%	$14.6M	$73.7M	50x	as long as short
Hibachi XRP/USDT-P	+0.0080%	1h	1.5178	+0.068%	$17K	$78K	7x	as long as short
Lighter XRP	+0.0096%	1h	1.5186	+0.125%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5189	+0.142%	$605K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5180	+0.086%	$999K	$6.3M	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	1.5184	+0.109%	$38.5M	$86.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5187	+0.129%	$611K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5185	+0.114%	$530.1M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5182	+0.096%	$350.4M	$948.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5182	+0.096%	$127.4M	$863.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5175	+0.050%	$564K	$33K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5179	+0.076%	$143K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5189	+0.142%	$1.6M	$13K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5180	+0.083%	$378.2M	$150.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5183	+0.103%	$311.6M	$909.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5183	+0.104%	$106.7M	$183.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5175	+0.050%	$269.1M	$389.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5181	+0.089%	—	$107.9M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5167	long leg	$4.8M	$38.8M	—
edgeX XRPUSDC	+0.0100%	4h	1.5161	−0.045%	$658K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5176	+0.056%	$1.1M	$33.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5161	−0.043%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5184	+0.107%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5183	+0.103%	$52K	$514K	20x	as long as short
Bullet XRP-USDshort	+0.0100%	1h	1.5184	+0.110%	$41K	$69K	20x
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5182	+0.096%	$77K	$689K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5164	−0.024%	$816K	$77K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5185	+0.113%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5183	+0.103%	$29K	$1.5M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5191	+0.154%	$49.6M	$15.3M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5189	+0.142%	$54.1M	$32.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	+0.139%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5176	+0.056%	$2.1M	$6.9M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5173	+0.037%	$8K	$2K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5181	+0.088%	$58K	$25K	3x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0111% / S −0.0074%	1h	1.5184	+0.106%	$784K	—	200x	as long as short
Kalshi KXXRPPERP	+0.0161%	8h	1.5192	+0.162%	$1.8M	$33.6M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0176%	1h	1.5188	+0.135%	$5.6M	$48.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0183%	1h	1.5199	+0.208%	$2.0M	$1.4M	25x	as long as short
Hyperliquid XRP	+0.0191%	1h	1.5197	+0.197%	$290.1M	$268.2M	20x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5173	+0.037%	$23.6M	$77.7M	125x	as long as short
Reya XRPRUSDPERP	+0.0221%	1h	1.5178	+0.067%	$1.3M	$4K	15x	as long as short
RISEx XRP/USDC	+0.0337%	1h	1.5179	+0.076%	$521K	$798K	10x	as long as short
Phoenix XRP	+0.0526%	1h	1.5180	+0.083%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0570%	1h	1.5180	+0.085%	$2K	$16K	10x	as long as short