Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Derive against Variational Omni−0.115%7-day average +0.018% · you buy dearer than you sell

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

Long on Variational Omni Short on Derive

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)+0.270%+$27 · spread now −0.115%, 7d avg +0.018%

Together, before fees+0.275%+ Points / potential airdropVariational Omni: Active · farm board+$27 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: Derive is 0.133% cheaper against Variational Omni than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5151	0.0100	pay 0.0100% / 8h	3h 12m	$4.8M	$38.3M	—
Short	Derive XRP-PERP	1.5133	0.0100	get 0.0013% / 1h	12m 02s	$814K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Derive 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 DerivebpOrdersPrice spread, now −0.115%Rate

Funding earned: $0
Price spread: −0.115% → +0.018%: −$13.32
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Derive: 3 bp × 2 orders: −$6
Net: −$19.32
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Derive: 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, 2 min ago	2.01 bp	doesn't fit	3.8 bp −$38	21.8 bp −$2,176	doesn't fit
Sell Derive no order-book sample	—	—	—	—	—

Derive: 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 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	1.5137	−0.091%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5141	−0.066%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5132	−0.126%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5138	−0.085%	$7.7M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5134	−0.114%	$14.4M	$74.6M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.701%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5132	−0.128%	$794K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5137	−0.088%	$2.8M	$14.8M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5137	−0.091%	$496K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5135	−0.105%	$9K	$351K	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	1.5132	−0.121%	$962K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5135	−0.105%	$38.9M	$85.8M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5140	−0.069%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5133	−0.118%	$533.4M	$2.16B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5133	−0.118%	$344.2M	$945.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5135	−0.105%	$125.5M	$883.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5148	−0.019%	$564K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5138	−0.085%	$137K	$721K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5138	−0.082%	$1.6M	$29K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5138	−0.085%	$371.8M	$157.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5135	−0.105%	$296.9M	$907.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5137	−0.091%	$109.1M	$178.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5137	−0.091%	$268.8M	$390.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5133	−0.118%	—	$4.2M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5151	long leg	$4.8M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5159	+0.053%	$658K	$110.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5154	+0.021%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5169	+0.120%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5136	−0.096%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5134	−0.111%	$45K	$479K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5130	−0.138%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5131	−0.131%	$62K	$934K	50x	as long as short
Derive XRP-PERPshort	+0.0100%	1h	1.5133	−0.115%	$814K	$72K	10x
SunX XRP-USDT	+0.0100%	8h	1.5135	−0.102%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5135	−0.105%	$30K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5142	−0.061%	$49.5M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5136	−0.098%	$53.9M	$31.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5136	−0.101%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5130	−0.136%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5132	−0.121%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5138	−0.085%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5136	−0.098%	$5.7M	$48.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0215%	8h	1.5147	−0.025%	$1.9M	$35.3M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5130	−0.136%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5144	−0.045%	$24.2M	$75.7M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0244%	1h	1.5145	−0.039%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5152	+0.005%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5139	−0.080%	$515K	$776K	10x	as long as short
Hyperliquid XRP	+0.0401%	1h	1.5154	+0.021%	$297.8M	$251.8M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5160	+0.060%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0653%	1h	1.5157	+0.044%	$2K	$15K	10x	as long as short