Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: dYdX against Variational Omni−0.094%7-day average −0.006% · you buy dearer than you sell

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

Long on Variational Omni Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.100%−$10 on $10k

Price spread, last 4 days (all we have)−0.249%−$25 · spread now −0.094%, 7d avg −0.006%

Together, before fees−0.349%+ Points / potential airdropVariational Omni: Active · farm board−$35 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 dYdX is 0.088% cheaper against Variational Omni than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.006%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5199	0.0100	pay 0.0100% / 8h	6h 25m	$6.2M	$35.8M	—
Short	dYdX XRP-USD	1.5185	0	get 0.0000% / 1h	25m 30s	$1.1M	$120K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now −0.094%Rate

Funding earned: −$21
Price spread: −0.094% → −0.006%: −$8.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$39.77
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; dYdX: live order book, 4 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, 4 min ago	2.05 bp	doesn't fit	4.1 bp −$41	22.5 bp −$2,251	doesn't fit
Sell dYdX live order book, 4 min ago	27.36 bp	35.6 bp −$36	49.9 bp −$499	187.3 bp −$18.7K	365.1 bp −$182.5K

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	1.5195	−0.026%	$5K	$3K	20x	as long as short
dYdX XRP-USDshort	0.0000%	1h	1.5185	−0.094%	$1.1M	$120K	10x
Phoenix XRP	0.0000%	1h	1.5210	+0.072%	$68K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5197	−0.013%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0059%	1h	1.5197	−0.014%	$803K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.375%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0040%	1h	1.5203	+0.025%	$14.6M	$72.7M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0072%	8h	1.5203	+0.026%	$62K	$953K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5198	−0.006%	$2.8M	$14.3M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5200	+0.007%	$518K	$3.3M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5184	−0.099%	$11K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5187	−0.076%	$896K	$5.9M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5197	−0.013%	$38.7M	$84.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5193	−0.038%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5199	−0.002%	$539.1M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5198	−0.007%	$342.2M	$940.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5204	+0.033%	$124.7M	$874.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5174	−0.164%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5198	−0.007%	$115K	$700K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5190	−0.062%	$1.6M	$330K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5196	−0.020%	$369.7M	$152.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5199	0.000%	$291.8M	$912.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5199	−0.001%	$107.4M	$171.3M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5200	+0.007%	$266.6M	$383.8M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5193	−0.039%	—	$4.1M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5199	long leg	$6.2M	$35.8M	—
edgeX XRPUSDC	+0.0100%	4h	1.5184	−0.101%	$659K	$108.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5181	−0.117%	$1.1M	$37.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5179	−0.132%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5199	0.000%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5200	+0.007%	$44K	$445K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5201	+0.014%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5206	+0.047%	$818K	$76K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5210	+0.073%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5203	+0.026%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5207	+0.051%	$49.8M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	+0.020%	$54.1M	$29.7M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5197	−0.014%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5191	−0.050%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5201	+0.016%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0128%	1h	1.5195	−0.026%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0211%	1h	1.5206	+0.046%	$7.7M	$25.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5196	−0.018%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5210	+0.072%	$5.7M	$46.8M	50x	as long as short
Hyperliquid XRP	+0.0219%	1h	1.5208	+0.059%	$281.4M	$223.5M	20x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5203	+0.027%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5199	0.000%	$2.1M	$35.8M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0364%	1h	1.5215	+0.105%	$1.9M	$1.3M	25x	as long as short
RISEx XRP/USDC	+0.0456%	1h	1.5198	−0.005%	$535K	$785K	10x	as long as short
Aftermath Perps XRPUSD	+0.0756%	1h	1.5174	−0.163%	$2K	$14K	10x	as long as short