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: Nado against Variational Omni+0.235%7-day average +0.032% · you sell dearer than you buy

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

Long on Variational Omni Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)0.000%$0 on $10k

Price spread, last 7 days−0.167%−$17 · spread now +0.235%, 7d avg +0.032%

Together, before fees−0.167%+ Points / potential airdropVariational Omni: Active · Nado: Active · farm board−$17 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: Nado is 0.204% dearer against Variational Omni than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5139	0.0100	pay 0.0100% / 8h	3h 55m	$4.8M	$38.1M	—
Short	Nado XRP-PERP	1.5174	0.0100	get 0.0012% / 1h	55m 18s	$1.1M	$6.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.235%Rate

Funding earned: $0
Price spread: +0.235% → +0.032%: $20.36
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $13.36
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Nado: 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	2.02 bp	doesn't fit	3.4 bp −$34	21.2 bp −$2,124	doesn't fit
Sell Nado live order book, 4 min ago	0.33 bp	3.8 bp −$4	8.9 bp −$89	38.0 bp −$3,799	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	1.5179	+0.265%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5181	+0.276%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.074%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5186	+0.311%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5149	+0.067%	$7.7M	$25.5M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5147	+0.056%	$14.3M	$74.0M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.782%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0048% / S +0.0017%	1h	1.5181	+0.277%	$791K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0096%	8h	1.5189	+0.331%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5184	+0.296%	$2.8M	$14.6M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5166	+0.179%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5168	+0.193%	$11K	$334K	20x	as long as short
Nado XRP-PERPshort	+0.0100%	1h	1.5174	+0.235%	$1.1M	$6.0M	20x
Aster XRPUSDT	+0.0100%	8h	1.5178	+0.258%	$38.4M	$83.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5181	+0.276%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5184	+0.300%	$534.1M	$2.13B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5193	+0.358%	$347.8M	$939.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5193	+0.358%	$127.9M	$883.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5138	−0.006%	$563K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5178	+0.259%	$118K	$706K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	−0.164%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5184	+0.298%	$371.6M	$153.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5178	+0.259%	$292.5M	$895.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5180	+0.272%	$108.2M	$175.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5188	+0.325%	$268.8M	$386.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5190	+0.338%	—	$127.4M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5139	long leg	$4.8M	$38.1M	—
edgeX XRPUSDC	+0.0100%	4h	1.5141	+0.013%	$657K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5138	−0.006%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5147	+0.054%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5172	+0.217%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5181	+0.278%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5181	+0.278%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5191	+0.347%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5135	−0.025%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5144	+0.034%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5145	+0.039%	$49.5M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5147	+0.054%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5171	+0.213%	$473K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5171	+0.215%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5187	+0.319%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5180	+0.272%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0150%	1h	1.5191	+0.344%	$281.0M	$228.2M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5153	+0.093%	$5.6M	$47.2M	50x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5179	+0.267%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5140	+0.008%	$24.2M	$76.1M	125x	as long as short
Hibachi XRP/USDT-P	+0.0224%	1h	1.5133	−0.038%	$17K	$82K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0225%	1h	1.5159	+0.133%	$2.0M	$1.4M	25x	as long as short
Kalshi KXXRPPERP	+0.0259%	8h	1.5148	+0.060%	$2.0M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5180	+0.270%	$517K	$774K	10x	as long as short
Aftermath Perps XRPUSD	+0.0662%	1h	1.5149	+0.066%	$2K	$15K	10x	as long as short