Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Arcus−0.120%7-day average +0.008% · you buy dearer than you sell

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

Long on Arcus Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.004%$0 on $10k

Price spread, last 4 days (all we have)+0.529%+$53 · spread now −0.120%, 7d avg +0.008%

Together, before fees+0.525%+ Points / potential airdropVariational Omni: Active · farm board+$53 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: Variational Omni is 0.128% cheaper against Arcus than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Arcus XRP-USD	1.5155	0.0100	pay 0.0013% / 1h	15m 13s	$110K	$713K	20x
Short	Variational Omni XRP	1.5137	0.0100	get 0.0100% / 8h	4h 15m	$5.2M	$37.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Arcus. 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 ArcusbpFee Variational OmnibpOrdersPrice spread, now −0.120%Rate

Funding earned: $0
Price spread: −0.120% → +0.008%: −$12.78
Slippage, 4 orders: no order book: not counted
Fee Arcus: 2.25 bp × 2 orders: −$4.5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$17.28
Costs to cover: 0.045%
Break-even: never at this rate

Slippage unknown: Arcus: live order book, 44 min ago; Variational Omni: RFQ quote, 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 Arcus live order book, 44 min ago	1.32 bp	5.3 bp −$5	13.0 bp −$130	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	2.05 bp	doesn't fit	10.4 bp −$104	25.2 bp −$2,521	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	1.5135	−0.132%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0071%	1h	1.5142	−0.087%	$14.3M	$73.8M	50x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5143	−0.082%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	−0.033%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5142	−0.086%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5148	−0.046%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.672%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0044% / S +0.0023%	1h	1.5142	−0.087%	$789K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0088%	8h	1.5146	−0.059%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5145	−0.066%	$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	1.5146	−0.059%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5146	−0.059%	$11K	$329K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5147	−0.056%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5165	+0.066%	$280.6M	$227.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5144	−0.073%	$38.3M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5148	−0.046%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5143	−0.079%	$534.1M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5142	−0.086%	$346.8M	$934.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5143	−0.079%	$126.2M	$874.0M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5132	−0.152%	$564K	$28K	5x	as long as short
Arcus XRP-USDlong	+0.0100%	1h	1.5155	long leg	$110K	$713K	20x
Bulk XRP-USD	+0.0100%	1h	1.5174	+0.126%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5145	−0.066%	$369.2M	$154.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5143	−0.079%	$291.5M	$902.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5147	−0.055%	$108.0M	$174.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5139	−0.106%	$267.9M	$385.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5146	−0.059%	—	$127.0M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5137	−0.120%	$5.2M	$37.7M	—
edgeX XRPUSDC	+0.0100%	4h	1.5145	−0.063%	$659K	$108.6M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5149	−0.039%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5156	+0.007%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5146	−0.061%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5152	−0.020%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5143	−0.079%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5146	−0.058%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5156	+0.009%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5144	−0.073%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5140	−0.101%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5144	−0.073%	$54.0M	$30.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5146	−0.059%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5141	−0.090%	$2.0M	$6.8M	50x	as long as short
01 Exchange XRPUSD	+0.0104%	1h	1.5156	+0.007%	$8K	$8K	10x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5144	−0.071%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0181%	1h	1.5142	−0.086%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5151	−0.026%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5135	−0.134%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5141	−0.091%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5143	−0.079%	$24.2M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0315%	8h	1.5152	−0.020%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5156	+0.007%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0669%	1h	1.5157	+0.015%	$2K	$15K	10x	as long as short