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: Ondo Perps against Variational Omni−0.105%7-day average −0.059% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.021%−$2 on $10k

Price spread, last 4 days (all we have)−0.448%−$45 · spread now −0.105%, 7d avg −0.059%

Together, before fees−0.469%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board−$47 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: Ondo Perps is 0.045% cheaper against Variational Omni than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5154	0.0100	pay 0.0100% / 8h	3h 57m	$4.8M	$38.1M	—
Short	Ondo Perps XRP-USD.P	1.5138	0.0100	get 0.0013% / 1h	57m 46s	$563K	$28K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → −0.059%: −$4.51
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$9.51
Costs to cover: 0.050%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Ondo Perps: 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, 1 min ago	2.02 bp	doesn't fit	3.4 bp −$34	21.2 bp −$2,124	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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	1.5138	−0.105%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5153	−0.004%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−0.025%	$67K	$110K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5137	−0.111%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5132	−0.144%	$253K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5134	−0.130%	$14.3M	$73.9M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.680%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0048% / S +0.0018%	1h	1.5131	−0.151%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0095%	8h	1.5134	−0.131%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5158	+0.026%	$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	1.5153	−0.006%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5128	−0.171%	$10K	$331K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5132	−0.141%	$1.1M	$6.0M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5145	−0.058%	$38.3M	$83.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5155	+0.010%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	−0.011%	$533.0M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5152	−0.012%	$346.8M	$938.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	+0.001%	$127.7M	$877.9M	100x	as long as short
Ondo Perps XRP-USD.Pshort	+0.0100%	1h	1.5138	−0.105%	$563K	$28K	5x
Arcus XRP-USD	+0.0100%	1h	1.5147	−0.045%	$118K	$705K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5114	−0.263%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5146	−0.052%	$370.1M	$152.8M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5150	−0.025%	$292.4M	$895.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5155	+0.011%	$108.0M	$175.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5146	−0.052%	$268.2M	$386.1M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5142	−0.078%	—	$4.2M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5154	long leg	$4.8M	$38.1M	—
edgeX XRPUSDC	+0.0100%	4h	1.5150	−0.024%	$658K	$108.9M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5140	−0.091%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5143	−0.072%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5138	−0.107%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5136	−0.118%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5133	−0.138%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5137	−0.110%	$814K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5138	−0.104%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5136	−0.118%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5134	−0.128%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5137	−0.111%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5151	−0.021%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5139	−0.096%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5131	−0.149%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0120%	1h	1.5138	−0.105%	$8K	$8K	10x	as long as short
Hyperliquid XRP	+0.0131%	1h	1.5159	+0.034%	$280.4M	$228.1M	20x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5141	−0.085%	$5.6M	$47.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0191%	1h	1.5151	−0.019%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5142	−0.079%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5130	−0.156%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5144	−0.065%	$24.2M	$76.1M	125x	as long as short
Kalshi KXXRPPERP	+0.0313%	8h	1.5142	−0.078%	$2.0M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5140	−0.092%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0671%	1h	1.5144	−0.062%	$2K	$15K	10x	as long as short