Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0171%/8h= +18.7% APRpaid last 24h −0.022%

Price spread now: Variational Omni against Kraken Futures−0.067%7-day average −0.024% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.067%−$7 on $10k

Price spread, last 4 days (all we have)−0.178%−$18 · spread now −0.067%, 7d avg −0.024%

Together, before fees−0.246%+ Points / potential airdropVariational Omni: Active · farm board−$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.044% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.067% now, against its 7-day average of −0.024%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$5 a day). Mind the row above: over the last 3 days funding on this pair cost −0.067%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XRPUSD	1.5147	−0.0071	get 0.0009% / 1h	12m 03s	$14.3M	$73.8M	50x
Short	Variational Omni XRP	1.5137	0.0100	get 0.0100% / 8h	4h 12m	$5.2M	$37.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.067%Rate

Funding earned: $35.86
Price spread: −0.067% → −0.024%: −$4.36
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $21.49
Costs to cover: 0.100%
Break-even: 2.8 days

Slippage unknown: Kraken Futures: live order book, 2 min ago; Variational Omni: RFQ quote, 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 Kraken Futures live order book, 2 min ago	2.31 bp	7.3 bp −$7	10.4 bp −$104	17.0 bp −$1,696	35.0 bp −$17.5K
Sell Variational Omni RFQ quote, 2 min ago	2.02 bp	doesn't fit	4.7 bp −$47	21.3 bp −$2,125	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	1.5141	−0.040%	$5K	$3K	20x	as long as short
Kraken Futures PF_XRPUSDlong	−0.0071%	1h	1.5147	long leg	$14.3M	$73.8M	50x
dYdX XRP-USD	0.0000%	1h	1.5136	−0.073%	$1.1M	$111K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5150	+0.020%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5147	0.000%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0014%	1h	1.5150	+0.020%	$7.7M	$25.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.726%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0045% / S +0.0022%	1h	1.5145	−0.011%	$790K	—	200x	as long as short
Orderly PERP_XRP_USDC	+0.0090%	8h	1.5146	−0.007%	$62K	$934K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5151	+0.029%	$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	1.5152	+0.033%	$498K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5141	−0.040%	$11K	$329K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5135	−0.076%	$1.1M	$6.0M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5160	+0.086%	$280.5M	$227.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5147	+0.003%	$38.3M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5141	−0.042%	$607K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5148	+0.006%	$533.8M	$2.12B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5147	0.000%	$346.8M	$935.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5149	+0.013%	$126.4M	$874.8M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5142	−0.033%	$564K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5148	+0.006%	$110K	$714K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5130	−0.110%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5146	−0.007%	$369.2M	$154.4M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5148	+0.006%	$293.6M	$902.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5150	+0.019%	$107.9M	$175.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5146	−0.007%	$268.1M	$384.7M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5142	−0.033%	—	$4.2M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5137	−0.067%	$5.2M	$37.7M	—
edgeX XRPUSDC	+0.0100%	4h	1.5141	−0.039%	$658K	$108.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5137	−0.069%	$1.1M	$36.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5155	+0.053%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5144	−0.019%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5146	−0.007%	$44K	$454K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5148	+0.003%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5149	+0.012%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5150	+0.021%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5148	+0.006%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5144	−0.018%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5149	+0.013%	$54.0M	$30.9M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5141	−0.040%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5142	−0.031%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5145	−0.013%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0112%	1h	1.5149	+0.013%	$8K	$8K	10x	as long as short
Backpack XRP_USDC_PERP	+0.0186%	1h	1.5158	+0.072%	$2.0M	$1.4M	25x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5150	+0.020%	$5.6M	$47.0M	50x	as long as short
Hibachi XRP/USDT-P	+0.0208%	1h	1.5144	−0.022%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0216%	1h	1.5145	−0.013%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5142	−0.033%	$24.2M	$76.0M	125x	as long as short
Kalshi KXXRPPERP	+0.0314%	8h	1.5144	−0.020%	$2.1M	$34.7M	2.9x	as long as short
RISEx XRP/USDC	+0.0352%	1h	1.5150	+0.022%	$516K	$773K	10x	as long as short
Aftermath Perps XRPUSD	+0.0680%	1h	1.5155	+0.051%	$2K	$15K	10x	as long as short