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 0.000%

Price spread now: Variational Omni against Pacifica−0.216%52s7-day average −0.007% · you buy dearer than you sell

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.006%−$1 on $10k

Price spread, last 4 days (all we have)+0.334%+$33 · spread now −0.216%, 7d avg −0.007%

Together, before fees+0.328%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$33 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 0.208% cheaper against Pacifica than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of −0.007%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XRP	1.5582	0.0100	pay 0.0013% / 1h	15m 51s	$641K	$1.1M	20x
Short	Variational Omni XRP	1.5549	0.0100	get 0.0100% / 8h	1h 15m	$11.8M	$30.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Pacifica. 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 PacificabpFee Variational OmnibpOrdersPrice spread, now −0.216%Rate

Funding earned: $0
Price spread: −0.216% → −0.007%: −$20.83
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$28.83
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 3 min ago; Variational Omni: RFQ quote, 3 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 Pacifica live order book, 3 min ago	0.96 bp	5.5 bp −$6	6.4 bp −$64	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.03 bp	doesn't fit	5.6 bp −$56	28.1 bp −$2,808	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	1.5570	−0.078%	$7K	$2K	20x	as long as short
GMX XRP/USD [ETH-USDC]	L −0.0003% / S +0.0117%	1h	1.5574	−0.055%	$852K	—	200x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5574	−0.050%	$1.1M	$113K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5569	−0.085%	$9.6M	$25.2M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5574	−0.056%	$261K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	−0.142%	$2K	$107K	30x	as long as short
Kraken Futures PF_XRPUSD	+0.0041%	1h	1.5561	−0.138%	$15.5M	$68.5M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0054%	8h	1.5573	−0.059%	$78K	$949K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5559	−0.147%	$3.0M	$12.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5563	−0.123%	$441K	$3.2M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Nado XRP-PERP	+0.0100%	1h	1.5587	+0.034%	$1.1M	$5.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5555	−0.174%	$39.5M	$78.7M	100x	as long as short
Pacifica XRPlong	+0.0100%	1h	1.5582	long leg	$641K	$1.1M	20x
Binance XRPUSDT	+0.0100%	8h	1.5558	−0.155%	$559.8M	$1.98B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5560	−0.142%	$346.3M	$900.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5559	−0.149%	$127.5M	$881.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5554	−0.181%	$579K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5593	+0.069%	$119K	$744K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5567	−0.099%	$1.7M	$578K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5554	−0.181%	$373.9M	$140.7M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5554	−0.181%	$298.7M	$860.3M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5553	−0.185%	$113.9M	$159.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5559	−0.149%	$271.8M	$364.4M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5560	−0.142%	—	$118.8M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5549	−0.216%	$11.8M	$30.1M	—
edgeX XRPUSDC	+0.0100%	4h	1.5567	−0.099%	$676K	$102.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5549	−0.212%	$1.1M	$41.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5555	−0.174%	$1.0M	$883K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5577	−0.030%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5587	+0.031%	$47K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5576	−0.039%	$42K	$66K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5576	−0.040%	$838K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5573	−0.061%	$131K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5566	−0.104%	$33K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5582	−0.001%	$51.2M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5563	−0.123%	$55.4M	$29.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5579	−0.021%	$486K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5584	+0.012%	$11K	$261K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5550	−0.205%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5573	−0.057%	$73K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0176%	1h	1.5594	+0.076%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5581	−0.010%	$1.4M	$9K	15x	as long as short
Hibachi XRP/USDT-P	+0.0216%	1h	1.5558	−0.155%	$18K	$82K	7x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5570	−0.078%	$5.8M	$47.3M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5567	−0.097%	$24.5M	$73.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0294%	1h	1.5563	−0.123%	$1.8M	$1.0M	25x	as long as short
Kalshi KXXRPPERP	+0.0325%	8h	1.5592	+0.063%	$1.9M	$33.1M	2.9x	as long as short
Phoenix XRP	+0.0516%	1h	1.5550	−0.207%	$69K	$90K	15x	as long as short
RISEx XRP/USDC	+0.0527%	1h	1.5602	+0.125%	$511K	$630K	10x	as long as short
Hyperliquid XRP	+0.0593%	1h	1.5577	−0.033%	$291.2M	$204.3M	20x	as long as short
Aftermath Perps XRPUSD	+0.0755%	1h	1.5570	−0.078%	$1K	$11K	10x	as long as short