Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Katana Perps against Variational Omni−0.144%7-day average −0.035% · you buy dearer than you sell

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

Long on Variational Omni Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 7 days+0.166%+$17 · spread now −0.144%, 7d avg −0.035%

Together, before fees+0.137%+ Points / potential airdropVariational Omni: Active · farm board+$14 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: Katana Perps is 0.109% cheaper against Variational Omni than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5216	0.0100	pay 0.0100% / 8h	7h 00m	$6.4M	$35.6M	—
Short	Katana Perps XRP-USD	1.5194	0.0100	get 0.0100% / 8h	7h 00m	$9K	$282K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps 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 Katana PerpsbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$0.04
Price spread: −0.144% → −0.035%: −$10.89
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$14.73
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Katana Perps: no order-book sample. 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	4.7 bp −$47	27.8 bp −$2,781	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5203	−0.084%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5193	−0.147%	$1.1M	$116K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5215	−0.006%	$255K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5216	+0.001%	$9.2M	$24.6M	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0020% / S +0.0070%	1h	1.5213	−0.020%	$834K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.262%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0065%	8h	1.5217	+0.008%	$57K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5198	−0.117%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5210	−0.036%	$2.8M	$14.1M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5199	−0.111%	$508K	$3.3M	20x	as long as short

Show all 51 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USDshort	+0.0100%	8h	1.5194	−0.144%	$9K	$282K	20x
Paradex XRP-USD-PERP	+0.0100%	8h	1.5195	−0.135%	$474K	$55K	50x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5203	−0.082%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5204	−0.078%	$38.4M	$83.5M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5198	−0.117%	$625K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5208	−0.051%	$536.3M	$2.06B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5208	−0.052%	$339.0M	$922.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5200	−0.104%	$122.5M	$864.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5210	−0.038%	$567K	$42K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5203	−0.084%	$114K	$716K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5350	+0.879%	$1.7M	$327K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5199	−0.111%	$366.9M	$154.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5198	−0.117%	$297.9M	$919.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5204	−0.080%	$110.0M	$168.1M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5199	−0.111%	$266.4M	$377.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5198	−0.117%	—	$125.6M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5216	long leg	$6.4M	$35.6M	—
edgeX XRPUSDC	+0.0100%	4h	1.5260	+0.289%	$663K	$107.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5328	+0.736%	$1.1M	$37.7M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.238%	$1.2M	$999K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5205	−0.073%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5207	−0.058%	$44K	$449K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5218	+0.016%	$41K	$67K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5219	+0.019%	$819K	$74K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5221	+0.037%	$128K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5215	−0.006%	$29K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5210	−0.040%	$49.9M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5214	−0.012%	$54.0M	$29.5M	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5195	−0.140%	$2.1M	$7.1M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5213	−0.017%	$58K	$25K	3x	as long as short
Reya XRPRUSDPERP	+0.0214%	1h	1.5198	−0.116%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5210	−0.038%	$24.1M	$73.8M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5220	+0.027%	$5.7M	$46.3M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0246%	1h	1.5213	−0.019%	$14.3M	$70.4M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0303%	1h	1.5218	+0.014%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0304%	1h	1.5252	+0.236%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0322%	8h	1.5236	+0.133%	$2.0M	$34.8M	2.9x	as long as short
Hyperliquid XRP	+0.0355%	1h	1.5211	−0.032%	$283.7M	$218.3M	20x	as long as short
Phoenix XRP	+0.0520%	1h	1.5240	+0.159%	$68K	$110K	15x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5201	−0.098%	$537K	$777K	10x	as long as short
Aftermath Perps XRPUSD	+0.0853%	1h	1.5298	+0.540%	$2K	$13K	10x	as long as short