Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.018%

Price spread now: Injective against Variational Omni+2.850%46s7-day average −0.155% · you sell dearer than you buy

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−3.235%−$323 · spread now +2.850%, 7d avg −0.155%

Together, before fees−3.247%+ Points / potential airdropVariational Omni: Active · farm board−$325 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 3.005% dearer against Variational Omni than usual: you sell high and buy low (spread +2.850% now, against its 7-day average of −0.155%): +$300 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months. At the pace of the last 3 days (−0.012% in total) that is about years. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5129	0.0100	pay 0.0100% / 8h	4h 50m	$5.4M	$37.4M	—
Short	Injective XRP/USDC PERP	1.5560	0.0033	get 0.0004% / 1h	50m 25s	$2K	$107K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +2.850%Rate

Funding earned: −$14
Price spread: +2.850% → −0.155%: $300.49
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $286.47
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Injective: live order book, 8 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	2.6 bp −$26	19.5 bp −$1,952	doesn't fit
Sell Injective live order book, 8 min ago	42.92 bp	49.2 bp −$49	62.7 bp −$627	doesn't fit	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	1.5154	+0.166%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5135	+0.043%	$14.3M	$73.5M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5121	−0.049%	$1.1M	$114K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5170	+0.272%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5123	−0.039%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5140	+0.074%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERPshort	+0.0033%	1h	1.5560	+2.850%	$2K	$107K	30x
GMX XRP/USD [ETH-USDC]	L +0.0037% / S +0.0033%	1h	1.5123	−0.039%	$787K	—	200x	as long as short
01 Exchange XRPUSD	+0.0040%	1h	1.5124	−0.032%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0079%	8h	1.5120	−0.059%	$62K	$935K	50x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XRP	+0.0096%	1h	1.5125	−0.023%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5136	+0.047%	$509K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5113	−0.105%	$10K	$318K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5134	+0.037%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5131	+0.014%	$281.0M	$224.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5122	−0.045%	$38.2M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5128	−0.004%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5125	−0.025%	$532.8M	$2.11B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5123	−0.039%	$344.5M	$931.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5123	−0.039%	$125.7M	$871.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5144	+0.100%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5126	−0.019%	$113K	$717K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.234%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5124	−0.032%	$368.7M	$152.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5127	−0.012%	$295.5M	$894.0M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5122	−0.043%	$108.1M	$172.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5123	−0.039%	$267.3M	$382.9M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5121	−0.052%	—	$4.2M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5129	long leg	$5.4M	$37.4M	—
edgeX XRPUSDC	+0.0100%	4h	1.5155	+0.176%	$658K	$108.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5162	+0.219%	$1.1M	$35.1M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5157	+0.186%	$1.2M	$1.1M	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5124	−0.032%	$42K	$452K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5124	−0.035%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5136	+0.049%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5138	+0.058%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5137	+0.054%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5131	+0.017%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5138	+0.060%	$53.9M	$30.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5133	+0.026%	$472K	$55K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5131	+0.013%	—	$11K	10x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5120	−0.061%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5134	+0.037%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0155%	1h	1.5150	+0.140%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0160%	1h	1.5136	+0.044%	$17K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5141	+0.080%	$5.6M	$47.0M	50x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5122	−0.046%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5138	+0.060%	$24.2M	$75.8M	125x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5138	+0.060%	$2.1M	$34.4M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5128	−0.006%	$515K	$779K	10x	as long as short
Aftermath Perps XRPUSD	+0.0676%	1h	1.5152	+0.153%	$2K	$14K	10x	as long as short