Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Variational Omni against dYdX−0.027%7-day average −0.006% · you buy dearer than you sell

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

Long on dYdX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.110%+$11 on $10k

Price spread, last 7 days+0.099%+$10 · spread now −0.027%, 7d avg −0.006%

Together, before fees+0.209%+ Points / potential airdropVariational Omni: Active · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.021% cheaper against dYdX than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of −0.006%). If the spread goes back, that is −$2 on $10k: about 17 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX XRP-USD	1.5329	0	get 0.0000% / 1h	48m 38s	$1.1M	$154K	10x
Short	Variational Omni XRP	1.5325	0.0100	get 0.0100% / 8h	5h 48m	$5.0M	$38.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against dYdX. 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 dYdXbpFee Variational OmnibpOrdersPrice spread, now −0.027%Rate

Funding earned: $21
Price spread: −0.027% → −0.006%: −$2.12
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $8.88
Costs to cover: 0.100%
Break-even: 4.0 days

Slippage unknown: dYdX: live order book, 3 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 dYdX live order book, 3 min ago	17.60 bp	22.6 bp −$23	22.6 bp −$226	22.6 bp −$2,260	41.8 bp −$20.9K
Sell Variational Omni RFQ quote, 4 min ago	2.05 bp	doesn't fit	4.5 bp −$45	19.6 bp −$1,960	doesn't fit

XRP on 50 exchanges

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	1.5403	+0.485%	$5K	$4K	20x	as long as short
Kraken Futures PF_XRPUSD	−0.0062%	1h	1.5338	+0.063%	$14.0M	$70.7M	50x	as long as short
dYdX XRP-USDlong	0.0000%	1h	1.5329	long leg	$1.1M	$154K	10x
Phoenix XRP	0.0000%	1h	1.5340	+0.074%	$69K	$108K	15x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5338	+0.061%	$7.8M	$21.3M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5357	+0.183%	$246K	—	150x	as long as short
01 Exchange XRPUSD	+0.0008%	1h	1.5331	+0.015%	$9K	$987	10x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.509%	$2K	$107K	30x	as long as short
SoDEX XRP-USD	+0.0050%	1h	1.5336	+0.048%	$29K	$1.5M	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5330	+0.011%	$2.8M	$14.1M	20x	as long as short

Show all 50 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XRP	+0.0096%	1h	1.5331	+0.015%	$603K	$3.1M	20x	as long as short
Paradex XRP-USD-PERP	+0.0099%	8h	1.5328	−0.007%	$478K	$47K	50x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5326	−0.018%	$10K	$401K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5334	+0.038%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5342	+0.087%	$298.9M	$266.7M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5327	−0.008%	$39.3M	$81.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5329	+0.003%	$592K	$1.0M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5326	−0.017%	$534.2M	$2.08B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5324	−0.031%	$361.5M	$888.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5322	−0.044%	$124.8M	$836.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5321	−0.050%	$563K	$37K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5329	+0.002%	$165K	$681K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5379	+0.328%	$1.6M	$25K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5332	+0.022%	$382.1M	$156.1M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5322	−0.044%	$314.2M	$889.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5323	−0.036%	$105.9M	$181.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5323	−0.037%	$271.8M	$356.9M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5324	−0.031%	—	$99.3M	—	as long as short
Backpack XRP_USDC_PERP	+0.0100%	1h	1.5348	+0.126%	$2.0M	$1.2M	25x	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5325	−0.027%	$5.0M	$38.4M	—
edgeX XRPUSDC	+0.0100%	4h	1.5326	−0.015%	$666K	$109.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5340	+0.076%	$1.1M	$30.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5341	+0.080%	$1.2M	$1.2M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5333	+0.031%	—	$15K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5334	+0.035%	$52K	$475K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5334	+0.035%	$42K	$65K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5337	+0.054%	$83K	$613K	50x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5334	+0.037%	$129K	$1.5M	30x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5336	+0.047%	$50.0M	$14.1M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5340	+0.074%	$54.7M	$33.3M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5317	−0.073%	$2.2M	$6.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5330	+0.008%	$59K	$25K	3x	as long as short
Hibachi XRP/USDT-P	+0.0112%	1h	1.5326	−0.019%	$17K	$76K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0112%	1h	1.5340	+0.074%	$5.5M	$44.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0137%	8h	1.5341	+0.080%	$1.9M	$35.1M	2.9x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0203% / S −0.0551%	1h	1.5345	+0.105%	$805K	—	200x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5333	+0.028%	$23.9M	$78.3M	125x	as long as short
Reya XRPRUSDPERP	+0.0223%	1h	1.5323	−0.037%	$1.4M	$1K	15x	as long as short
RISEx XRP/USDC	+0.0239%	1h	1.5328	−0.002%	$515K	$736K	10x	as long as short
Aftermath Perps XRPUSD	+0.0430%	1h	1.5356	+0.176%	$3K	$13K	10x	as long as short