Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.024%

Price spread now: Deribit against Variational Omni−0.216%7-day average +0.041% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.429%+$43 · spread now −0.216%, 7d avg +0.041%

Together, before fees+0.403%+ Points / potential airdropVariational Omni: Active · farm board+$40 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.257% cheaper against Variational Omni than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5130	0.0100	pay 0.0100% / 8h	3h 08m	$4.8M	$38.3M	—
Short	Deribit XRP_USDC-PERPETUAL	1.5097	0	get 0.0000% / 1h	8m 34s	$7.7M	$25.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.216%Rate

Funding earned: −$21
Price spread: −0.216% → +0.041%: −$25.72
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$53.72
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Deribit: 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	2.02 bp	doesn't fit	5.6 bp −$56	20.8 bp −$2,076	doesn't fit
Sell Deribit live order book, 1 min ago	2.32 bp	6.3 bp −$6	9.3 bp −$93	59.4 bp −$5,941	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	1.5100	−0.196%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5105	−0.161%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUALshort	0.0000%	1h	1.5097	−0.216%	$7.7M	$25.6M	50x
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5105	−0.163%	$258K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5084	−0.300%	$14.3M	$74.7M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.844%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5104	−0.171%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5114	−0.105%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5113	−0.110%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5104	−0.170%	$10K	$355K	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5111	−0.120%	$980K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5111	−0.124%	$38.9M	$85.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5114	−0.104%	$606K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5113	−0.112%	$532.4M	$2.17B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5112	−0.117%	$343.1M	$947.3M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5112	−0.117%	$125.0M	$883.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5110	−0.130%	$563K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5120	−0.064%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	+0.057%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5114	−0.104%	$373.5M	$157.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5114	−0.104%	$295.6M	$909.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5115	−0.096%	$108.9M	$178.2M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5116	−0.091%	$268.3M	$391.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5114	−0.104%	—	$4.1M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5130	long leg	$4.8M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5144	+0.094%	$658K	$110.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5137	+0.050%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5150	+0.134%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5115	−0.094%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5120	−0.064%	$44K	$480K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5103	−0.175%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5096	−0.223%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5098	−0.211%	$812K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5100	−0.194%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5093	−0.243%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5094	−0.237%	$49.3M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5098	−0.210%	$53.7M	$31.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5115	−0.096%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5108	−0.146%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5094	−0.234%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5116	−0.091%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0182%	8h	1.5125	−0.031%	$1.8M	$35.3M	2.9x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5093	−0.243%	$5.7M	$47.9M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5116	−0.090%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5095	−0.229%	$24.2M	$75.5M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0237%	1h	1.5109	−0.137%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0288%	1h	1.5110	−0.133%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5118	−0.076%	$516K	$777K	10x	as long as short
Hyperliquid XRP	+0.0384%	1h	1.5130	+0.002%	$290.6M	$255.6M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5140	+0.068%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0662%	1h	1.5144	+0.096%	$2K	$15K	10x	as long as short