Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bulk against Variational Omni+0.297%7-day average +0.012% · you sell dearer than you buy

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

Long on Variational Omni Short on Bulk

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.009%+$1 on $10k

Price spread, last 7 days−0.286%−$29 · spread now +0.297%, 7d avg +0.012%

Together, before fees−0.277%+ Points / potential airdropVariational Omni: Active · farm board−$28 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: Bulk is 0.284% dearer against Variational Omni than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.012%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5364	0.0100	pay 0.0100% / 8h	20m 25s	$11.5M	$30.7M	—
Short	Bulk XRP-USD	1.5410	0.0100	get 0.0013% / 1h	20m 25s	$1.7M	$572K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bulk against Variational Omni. 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 Variational OmnibpFee BulkbpOrdersPrice spread, now +0.297%Rate

Funding earned: $0
Price spread: +0.297% → +0.012%: $28.42
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Bulk: 3.5 bp × 2 orders: −$7
Net: $21.42
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Bulk: live order book, 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 Variational Omni RFQ quote, 4 min ago	2.02 bp	doesn't fit	3.1 bp −$31	20.0 bp −$1,998	doesn't fit
Sell Bulk live order book, 4 min ago	0.32 bp	3.8 bp −$4	4.1 bp −$41	12.9 bp −$1,294	29.4 bp −$14.7K

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	1.5367	+0.017%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5366	+0.012%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5370	+0.036%	$68K	$90K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5360	−0.028%	$266K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0005% / S +0.0096%	1h	1.5360	−0.028%	$844K	—	200x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0010%	1h	1.5361	−0.022%	$9.4M	$25.6M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0032%	1h	1.5359	−0.033%	$15.0M	$69.6M	50x	as long as short
Orderly PERP_XRP_USDC	+0.0059%	8h	1.5363	−0.009%	$75K	$910K	50x	as long as short
Injective XRP/USDC PERP	+0.0089%	1h	1.5560	+1.273%	$2K	$107K	30x	as long as short
Lighter XRP	+0.0096%	1h	1.5376	+0.072%	$2.9M	$13.0M	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	1.5377	+0.082%	$440K	$3.2M	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5359	−0.032%	$1.1M	$5.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5365	+0.004%	$39.1M	$81.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5368	+0.024%	$632K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5363	−0.009%	$546.6M	$2.04B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5361	−0.022%	$341.9M	$924.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5361	−0.022%	$125.3M	$879.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5356	−0.055%	$572K	$41K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5370	+0.036%	$117K	$758K	20x	as long as short
Bulk XRP-USDshort	+0.0100%	1h	1.5410	+0.297%	$1.7M	$572K	20x
Gate XRP_USDT	+0.0100%	8h	1.5362	−0.016%	$361.4M	$147.9M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5363	−0.009%	$296.7M	$887.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5364	−0.004%	$110.2M	$165.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5360	−0.029%	$267.3M	$375.0M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5363	−0.009%	—	$121.8M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5364	long leg	$11.5M	$30.7M	—
edgeX XRPUSDC	+0.0100%	4h	1.5360	−0.027%	$667K	$105.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5364	−0.003%	$1.1M	$40.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5364	−0.003%	$1.0M	$900K	50x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5366	+0.010%	$47K	$455K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5364	−0.003%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5360	−0.027%	$827K	$81K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5365	+0.003%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5361	−0.022%	$31K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5366	+0.009%	$50.4M	$15.5M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5365	+0.004%	$54.7M	$29.5M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5368	+0.021%	$479K	$54K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5363	−0.011%	—	$10K	10x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5366	+0.010%	$12K	$269K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5362	−0.019%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5358	−0.040%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5370	+0.036%	$8K	$8K	10x	as long as short
Reya XRPRUSDPERP	+0.0212%	1h	1.5359	−0.033%	$1.4M	$8K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5367	+0.017%	$24.3M	$74.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5366	+0.010%	$5.8M	$47.1M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0258%	1h	1.5376	+0.075%	$1.7M	$1.0M	25x	as long as short
Hibachi XRP/USDT-P	+0.0272%	1h	1.5378	+0.089%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0308%	8h	1.5371	+0.043%	$2.0M	$34.5M	2.9x	as long as short
Hyperliquid XRP	+0.0587%	1h	1.5378	+0.088%	$293.5M	$213.4M	20x	as long as short
RISEx XRP/USDC	+0.0761%	1h	1.5376	+0.078%	$500K	$638K	10x	as long as short
Aftermath Perps XRPUSD	+0.0781%	1h	1.5382	+0.117%	$1K	$11K	10x	as long as short