Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0086%/8h= −9.4% APRpaid last 24h −0.024%

Price spread now: Deribit against Variational Omni−0.222%7-day average +0.041% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.435%+$43 · spread now −0.222%, 7d avg +0.041%

Together, before fees+0.409%+ Points / potential airdropVariational Omni: Active · farm board+$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.263% cheaper against Variational Omni than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.041%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5187	0.0100	pay 0.0100% / 8h	3h 22m	$4.9M	$38.3M	—
Short	Deribit XRP_USDC-PERPETUAL	1.5153	0.0014	get 0.0002% / 1h	22m 01s	$7.8M	$25.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.222%Rate

Funding earned: −$18.06
Price spread: −0.222% → +0.041%: −$26.29
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$51.35
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Deribit: live order book, 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 Variational Omni RFQ quote, 2 min ago	2.05 bp	doesn't fit	6.1 bp −$61	22.4 bp −$2,237	doesn't fit
Sell Deribit live order book, 2 min ago	0.33 bp	4.3 bp −$4	6.5 bp −$65	38.8 bp −$3,881	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	1.5148	−0.255%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5148	−0.256%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5153	−0.224%	$253K	—	150x	as long as short
Deribit XRP_USDC-PERPETUALshort	+0.0014%	1h	1.5153	−0.222%	$7.8M	$25.5M	50x
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5149	−0.251%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.458%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5150	−0.241%	$790K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5154	−0.217%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5152	−0.228%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5138	−0.321%	$9K	$348K	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	1.5144	−0.281%	$995K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5152	−0.228%	$38.7M	$85.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5150	−0.242%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5151	−0.235%	$534.2M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5153	−0.222%	$344.9M	$944.7M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	−0.215%	$126.3M	$881.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5147	−0.261%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5145	−0.275%	$131K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	−0.146%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5152	−0.228%	$371.4M	$156.3M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5148	−0.255%	$295.6M	$905.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5151	−0.233%	$109.0M	$177.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5153	−0.222%	$268.8M	$389.7M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5153	−0.222%	—	$127.8M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5187	long leg	$4.9M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.013%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5166	−0.139%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.061%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	−0.234%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5154	−0.215%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5149	−0.251%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5150	−0.242%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5150	−0.239%	$815K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5151	−0.234%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5150	−0.242%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5150	−0.239%	$49.5M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5150	−0.242%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5150	−0.239%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5147	−0.259%	$2.0M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5148	−0.253%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5143	−0.288%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5157	−0.196%	$5.7M	$47.6M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5147	−0.260%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5163	−0.156%	$24.2M	$75.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0256%	1h	1.5163	−0.156%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5160	−0.178%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0302%	8h	1.5156	−0.202%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5143	−0.291%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0407%	1h	1.5166	−0.136%	$298.4M	$247.2M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.022%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0678%	1h	1.5184	−0.017%	$2K	$15K	10x	as long as short