Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.099%

Price spread now: GMX against Variational Omni−0.022%7-day average +0.045% · you buy dearer than you sell

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.247%−$25 on $10k

Price spread, last 4 days (all we have)+0.943%+$94 · spread now −0.022%, 7d avg +0.045%

Together, before fees+0.696%+ Points / potential airdropVariational Omni: Active · farm board+$70 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and GMX is 0.067% cheaper against Variational Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5121	0.0100	pay 0.0100% / 8h	5h 39m	$5.6M	$36.3M	—
Short	GMX XRP/USD [ETH-USDC]	1.5117	L +0.0032% / S +0.0046%	pay 0.0006% / 1h	39m 44s	$816K	—	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$30.76
Price spread: −0.022% → +0.045%: −$6.73
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$49.49
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; GMX: 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	2.05 bp	doesn't fit	2.6 bp −$26	21.6 bp −$2,163	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	1.5126	+0.036%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5126	+0.036%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5120	−0.006%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]short	L +0.0032% / S +0.0046%	1h	1.5117	−0.022%	$816K	—	200x
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.906%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5123	+0.016%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0080%	1h	1.5124	+0.023%	$8K	$8K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0081%	1h	1.5124	+0.023%	$7.6M	$25.4M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5114	−0.045%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5123	+0.016%	$508K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5117	−0.023%	$9K	$307K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5117	−0.020%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5126	+0.036%	$280.2M	$219.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5126	+0.038%	$38.4M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5127	+0.040%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5120	−0.005%	$535.9M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5118	−0.017%	$343.1M	$925.8M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5119	−0.010%	$125.2M	$864.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5116	−0.030%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5126	+0.036%	$114K	$708K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5136	+0.099%	$1.6M	$88K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5120	−0.004%	$369.7M	$151.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5123	+0.016%	$293.3M	$895.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5120	0.000%	$106.5M	$170.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5114	−0.043%	$266.0M	$380.5M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5122	+0.010%	—	$126.0M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5121	long leg	$5.6M	$36.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5133	+0.080%	$658K	$108.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5153	+0.215%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5143	+0.148%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5125	+0.028%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5123	+0.016%	$41K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5121	0.000%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5126	+0.037%	$814K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5125	+0.032%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5122	+0.010%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5121	+0.003%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5122	+0.010%	$53.8M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5127	+0.045%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5117	−0.021%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5121	+0.003%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5117	−0.023%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5126	+0.036%	$5.6M	$46.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0219%	1h	1.5130	+0.062%	$1.9M	$1.3M	25x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5120	−0.004%	$24.2M	$74.5M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5119	−0.010%	$14.5M	$73.1M	50x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5145	+0.160%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5129	+0.056%	$2.2M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5126	+0.034%	$522K	$771K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5120	−0.004%	$67K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0716%	1h	1.5131	+0.066%	$2K	$14K	10x	as long as short