Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bybit against Variational Omni−0.160%7-day average +0.001% · you buy dearer than you sell

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

Long on Variational Omni Short on Bybit

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+0.173%+$17 · spread now −0.160%, 7d avg +0.001%

Together, before fees+0.167%+ Points / potential airdropVariational Omni: Active · farm board+$17 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: Bybit is 0.161% cheaper against Variational Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5433	0.0100	pay 0.0100% / 8h	28m 59s	$11.5M	$30.6M	—
Short	Bybit XRPUSDT	1.5408	0.0100	get 0.0100% / 8h	28m 59s	$343.1M	$922.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BybitbpOrdersPrice spread, now −0.160%Rate

Funding earned: $0
Price spread: −0.160% → +0.001%: −$16.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.1
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Bybit: live order book, 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 Variational Omni RFQ quote, 5 min ago	2.04 bp	doesn't fit	4.0 bp −$40	19.6 bp −$1,959	doesn't fit
Sell Bybit live order book, 5 min ago	0.32 bp	5.8 bp −$6	6.8 bp −$68	13.0 bp −$1,302	23.7 bp −$11.8K

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	1.5402	−0.199%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5392	−0.267%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5420	−0.082%	$69K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5415	−0.113%	$267K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0099%	1h	1.5416	−0.107%	$833K	—	200x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5419	−0.088%	$15.1M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0058%	8h	1.5427	−0.037%	$76K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0074%	1h	1.5425	−0.050%	$9.5M	$25.4M	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+0.825%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5416	−0.106%	$3.0M	$12.7M	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	1.5419	−0.089%	$439K	$3.1M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5398	−0.225%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5415	−0.115%	$39.3M	$81.0M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5404	−0.185%	$634K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5411	−0.141%	$549.9M	$2.03B	100x	as long as short
Bybit XRPUSDTshort	+0.0100%	8h	1.5408	−0.160%	$343.1M	$922.4M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5410	−0.147%	$125.7M	$882.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5382	−0.329%	$574K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5406	−0.173%	$116K	$757K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5410	−0.147%	$1.7M	$572K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5413	−0.128%	$361.5M	$146.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5411	−0.141%	$296.0M	$881.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5415	−0.116%	$111.9M	$164.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5409	−0.154%	$268.8M	$373.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5412	−0.134%	—	$121.3M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5433	long leg	$11.5M	$30.6M	—
edgeX XRPUSDC	+0.0100%	4h	1.5454	+0.135%	$671K	$104.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5414	−0.119%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5462	+0.190%	$1.0M	$900K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5410	−0.147%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5417	−0.101%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5426	−0.046%	$830K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5424	−0.054%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5421	−0.076%	$33K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5405	−0.178%	$50.6M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5417	−0.102%	$54.8M	$29.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5401	−0.204%	$480K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5406	−0.172%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5406	−0.173%	$11K	$268K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5407	−0.169%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5423	−0.062%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5408	−0.160%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5406	−0.174%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5428	−0.031%	$24.4M	$74.6M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5425	−0.050%	$5.8M	$47.3M	50x	as long as short
Hibachi XRP/USDT-P	+0.0256%	1h	1.5404	−0.189%	$18K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0270%	1h	1.5428	−0.031%	$1.7M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0305%	8h	1.5410	−0.147%	$2.0M	$34.3M	2.9x	as long as short
Hyperliquid XRP	+0.0585%	1h	1.5428	−0.031%	$293.3M	$212.1M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5416	−0.111%	$501K	$633K	10x	as long as short
Aftermath Perps XRPUSD	+0.0798%	1h	1.5448	+0.099%	$1K	$11K	10x	as long as short