Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.031%

Price spread now: Hibachi against Variational Omni−0.039%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Hibachi: Active · farm boardneeds both histories

Funding pays, the price is against you. Hibachi is 0.039% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.039% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 16 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5487	0.0100	pay 0.0100% / 8h	2h 09m	$6.7M	$24.7M	—
Short	Hibachi XRP/USDT-P	1.5481	0.0296	get 0.0037% / 1h	9m 18s	$19K	$66K	7x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.039%Rate

Funding earned: $41.16
Price spread: −0.039% → 0.000%: −$3.9
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: $28.26
Costs to cover: 0.090%
Break-even: 2.2 days

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Hibachi: 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, 5 min ago	2.03 bp	doesn't fit	8.6 bp −$86	19.0 bp −$1,902	doesn't fit
Sell Hibachi no order-book sample	—	—	—	—	—

Hibachi: 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	1.5477	−0.065%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5451	−0.235%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5450	−0.240%	$69K	$89K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5433	−0.349%	$9.4M	$24.7M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5432	−0.355%	$258K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0040%	1h	1.5290	−1.273%	$2K	$86K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0047%	8h	1.5438	−0.317%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0075% / S +0.0169%	1h	1.5431	−0.360%	$909K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5431	−0.364%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5450	−0.240%	$447K	$3.1M	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	1.5442	−0.288%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5439	−0.309%	$39.3M	$73.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5447	−0.259%	$675K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5432	−0.356%	$555.2M	$1.87B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5435	−0.336%	$347.8M	$851.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5432	−0.356%	$126.3M	$847.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5427	−0.388%	$574K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5449	−0.246%	$120K	$686K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	−0.101%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5434	−0.343%	$368.5M	$133.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5437	−0.324%	$291.8M	$820.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5441	−0.295%	$112.0M	$149.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5430	−0.369%	$267.3M	$346.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5434	−0.343%	—	$114.7M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5487	long leg	$6.7M	$24.7M	—
edgeX XRPUSDC	+0.0100%	4h	1.5464	−0.151%	$671K	$95.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5471	−0.102%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5489	+0.012%	$1.0M	$878K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5442	−0.291%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5445	−0.272%	$50K	$468K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5435	−0.337%	$42K	$60K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5432	−0.357%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5450	−0.237%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5429	−0.375%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5420	−0.431%	$50.8M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5415	−0.466%	$55.1M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5443	−0.282%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5443	−0.285%	$12K	$239K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5429	−0.374%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5431	−0.360%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0144%	1h	1.5450	−0.240%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5427	−0.388%	$15.7M	$65.3M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5440	−0.304%	$5.6M	$45.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0203%	1h	1.5467	−0.130%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5436	−0.333%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5429	−0.375%	$24.2M	$68.5M	125x	as long as short
Kalshi KXXRPPERP	+0.0284%	8h	1.5490	+0.019%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-Pshort	+0.0296%	1h	1.5481	−0.039%	$19K	$66K	7x
RISEx XRP/USDC	+0.0431%	1h	1.5453	−0.218%	$406K	$499K	10x	as long as short
Hyperliquid XRP	+0.0507%	1h	1.5455	−0.207%	$284.9M	$190.2M	20x	as long as short
Aftermath Perps XRPUSD	+0.0532%	1h	1.5450	−0.242%	$1K	$11K	10x	as long as short