Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: Variational Omni against Derive−0.282%7-day average −0.011% · you buy dearer than you sell

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

Long on Derive Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 3 days (all we have)+0.065%+$7 · spread now −0.282%, 7d avg −0.011%

Together, before fees+0.064%+ Points / potential airdropVariational Omni: Active · farm board+$6 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 0.271% cheaper against Derive than usual: you would sell low and buy high, −$27 on $10k if it goes back to its 7-day average of −0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Derive XRP-PERP	1.5509	0.0100	pay 0.0013% / 1h	58m 38s	$835K	$70K	10x
Short	Variational Omni XRP	1.5465	0.0100	get 0.0100% / 8h	1h 58m	$6.6M	$24.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Derive. 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 DerivebpFee Variational OmnibpOrdersPrice spread, now −0.282%Rate

Funding earned: $0
Price spread: −0.282% → −0.011%: −$27.11
Slippage, 4 orders: no order book: not counted
Fee Derive: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$33.11
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Derive: no order-book sample; Variational Omni: RFQ quote, 1 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 Derive no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 1 min ago	2.03 bp	doesn't fit	6.6 bp −$66	30.6 bp −$3,056	doesn't fit

Derive: 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
Nado XRP-PERP	−0.0305%	1h	1.5549	+0.264%	$1.1M	$5.3M	20x	as long as short
Hotstuff XRP-PERP	−0.0080%	1h	1.5495	−0.088%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5507	−0.008%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5430	−0.507%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5520	+0.074%	$260K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5290	−1.410%	$2K	$86K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5521	+0.078%	$15.8M	$65.4M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0050%	8h	1.5517	+0.054%	$82K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0072%	1h	1.5519	+0.067%	$9.5M	$24.9M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0078% / S +0.0158%	1h	1.5519	+0.064%	$915K	—	200x	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	1.5514	+0.038%	$3.0M	$11.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5514	+0.035%	$448K	$3.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5515	+0.041%	$39.5M	$73.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5514	+0.036%	$677K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5511	+0.016%	$557.9M	$1.89B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5512	+0.022%	$348.3M	$859.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5511	+0.015%	$126.5M	$857.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5499	−0.062%	$575K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5519	+0.067%	$121K	$702K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5455	−0.348%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5518	+0.061%	$369.1M	$132.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5514	+0.035%	$284.7M	$810.4M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5516	+0.051%	$112.8M	$149.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5510	+0.009%	$268.7M	$348.4M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5510	+0.009%	—	$3.7M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5465	−0.282%	$6.6M	$24.7M	—
edgeX XRPUSDC	+0.0100%	4h	1.5461	−0.308%	$671K	$96.4M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5484	−0.157%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5459	−0.320%	$1.0M	$880K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5525	+0.107%	—	$10K	10x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5527	+0.120%	$42K	$61K	20x	as long as short
Derive XRP-PERPlong	+0.0100%	1h	1.5509	long leg	$835K	$70K	10x
SunX XRP-USDT	+0.0100%	8h	1.5522	+0.084%	$130K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5518	+0.061%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5532	+0.153%	$51.1M	$15.0M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5525	+0.106%	$55.4M	$28.4M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5511	+0.018%	$484K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5538	+0.190%	$11K	$244K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5534	+0.165%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5514	+0.036%	$72K	$40K	3x	as long as short
Polymarket Perps XRP-USD	+0.0113%	1h	1.5548	+0.254%	$51K	$436K	20x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5542	+0.215%	$1.4M	$9K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5523	+0.093%	$5.7M	$45.5M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5540	+0.202%	$24.4M	$70.6M	125x	as long as short
01 Exchange XRPUSD	+0.0304%	1h	1.5634	+0.809%	$8K	$8K	10x	as long as short
Kalshi KXXRPPERP	+0.0318%	8h	1.5500	−0.055%	$1.9M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0328%	1h	1.5529	+0.130%	$19K	$66K	7x	as long as short
Backpack XRP_USDC_PERP	+0.0359%	1h	1.5530	+0.138%	$1.8M	$956K	25x	as long as short
Aftermath Perps XRPUSD	+0.0523%	1h	1.5458	−0.328%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5516	+0.048%	$407K	$525K	10x	as long as short
Hyperliquid XRP	+0.0600%	1h	1.5532	+0.151%	$287.7M	$192.1M	20x	as long as short