Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against Variational Omni+0.214%7-day average +0.018% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.001%$0 · spread now +0.214%, 7d avg +0.018%

Together, before fees+0.001%+ Points / potential airdropVariational Omni: Active · farm board$0 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: Phemex is 0.195% 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 +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5046	0.0100	pay 0.0100% / 8h	2h 17m	$4.7M	$38.4M	—
Short	Phemex XRPUSDT	1.5078	0.0100	get 0.0100% / 8h	2h 17m	$53.8M	$32.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.214%Rate

Funding earned: $0
Price spread: +0.214% → +0.018%: $19.55
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $7.55
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Phemex: live order book, 2 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, 2 min ago	2.02 bp	doesn't fit	5.2 bp −$52	20.7 bp −$2,071	doesn't fit
Sell Phemex live order book, 2 min ago	3.65 bp	11.5 bp −$11	13.5 bp −$135	28.0 bp −$2,797	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	1.5083	+0.247%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0001%	1h	1.5079	+0.222%	$14.2M	$74.7M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5079	+0.222%	$1.1M	$133K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5090	+0.293%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5078	+0.216%	$244K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+3.417%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0071% / S −0.0014%	1h	1.5077	+0.206%	$794K	—	200x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5085	+0.260%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5081	+0.235%	$2.8M	$15.0M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5081	+0.234%	$545K	$3.3M	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	+0.0099%	8h	1.5077	+0.207%	$10K	$361K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5082	+0.243%	$976K	$6.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5079	+0.221%	$38.3M	$87.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5084	+0.255%	$600K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5074	+0.186%	$524.3M	$2.21B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5073	+0.180%	$343.9M	$964.2M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5073	+0.180%	$126.0M	$882.6M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5044	−0.012%	$560K	$31K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5094	+0.320%	$144K	$712K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5026	−0.129%	$1.6M	$5K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5079	+0.220%	$370.5M	$160.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5078	+0.214%	$287.9M	$923.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5080	+0.227%	$105.5M	$180.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5069	+0.154%	$264.6M	$397.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5079	+0.220%	—	$105.9M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5046	long leg	$4.7M	$38.4M	—
edgeX XRPUSDC	+0.0100%	4h	1.5054	+0.056%	$654K	$113.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5083	+0.247%	$1.1M	$37.2M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5092	+0.307%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5087	+0.272%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5084	+0.253%	$51K	$489K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5079	+0.221%	$41K	$70K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5080	+0.227%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5081	+0.231%	$811K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5089	+0.289%	$126K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5082	+0.240%	$28K	$1.6M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5083	+0.244%	$49.3M	$15.6M	75x	as long as short
Phemex XRPUSDTshort	+0.0100%	8h	1.5078	+0.214%	$53.8M	$32.2M	50x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5096	+0.330%	$471K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5068	+0.144%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5080	+0.230%	$58K	$25K	3x	as long as short
Hyperliquid XRP	+0.0106%	1h	1.5094	+0.320%	$288.0M	$262.1M	20x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0148%	1h	1.5087	+0.273%	$7.7M	$25.5M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5090	+0.293%	$5.7M	$48.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0192%	1h	1.5088	+0.280%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0192%	1h	1.5090	+0.294%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0193%	8h	1.5090	+0.293%	$1.7M	$35.7M	2.9x	as long as short
Reya XRPRUSDPERP	+0.0218%	1h	1.5077	+0.209%	$1.3M	$5K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5077	+0.207%	$23.1M	$77.0M	125x	as long as short
RISEx XRP/USDC	+0.0305%	1h	1.5089	+0.288%	$519K	$786K	10x	as long as short
Aftermath Perps XRPUSD	+0.0599%	1h	1.5059	+0.084%	$2K	$16K	10x	as long as short