Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Bulk+0.335%48s7-day average −0.012% · you sell dearer than you buy

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

Long on Bulk Short on Variational Omni

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−0.346%−$35 · spread now +0.335%, 7d avg −0.012%

Together, before fees−0.355%+ Points / potential airdropVariational Omni: Active · farm board−$36 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 0.348% dearer against Bulk than usual: you sell high and buy low, +$35 on $10k if it goes back to its 7-day average of −0.012%. The two prices were read 48 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	Bulk XRP-USD	1.5337	0.0100	pay 0.0013% / 1h	55m 45s	$1.7M	$565K	20x
Short	Variational Omni XRP	1.5388	0.0100	get 0.0100% / 8h	7h 55m	$6.5M	$35.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bulk. 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 BulkbpFee Variational OmnibpOrdersPrice spread, now +0.335%Rate

Funding earned: $0
Price spread: +0.335% → −0.012%: $34.78
Slippage, 4 orders: no order book: not counted
Fee Bulk: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $27.78
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Bulk: 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 Bulk live order book, 3 min ago	0.65 bp	4.2 bp −$4	5.4 bp −$54	14.7 bp −$1,475	30.2 bp −$15.1K
Sell Variational Omni RFQ quote, 3 min ago	2.02 bp	doesn't fit	2.0 bp −$20	19.0 bp −$1,901	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	1.5390	+0.346%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5367	+0.198%	$1.1M	$113K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5350	+0.085%	$68K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5369	+0.211%	$257K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0008% / S +0.0088%	1h	1.5366	+0.191%	$843K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+1.454%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0061%	8h	1.5372	+0.228%	$75K	$910K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0075%	1h	1.5383	+0.300%	$9.3M	$25.6M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5378	+0.265%	$2.9M	$13.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5387	+0.326%	$514K	$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
01 Exchange XRPUSD	+0.0096%	1h	1.5382	+0.293%	$8K	$8K	10x	as long as short
Katana Perps XRP-USD	+0.0100%	8h	1.5379	+0.274%	$12K	$271K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5372	+0.227%	$1.0M	$5.6M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5387	+0.326%	$39.0M	$83.2M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5374	+0.238%	$635K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5370	+0.215%	$541.0M	$2.07B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5368	+0.202%	$340.7M	$932.9M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5366	+0.189%	$125.6M	$884.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5339	+0.013%	$572K	$47K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5364	+0.176%	$116K	$707K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5337	long leg	$1.7M	$565K	20x
Gate XRP_USDT	+0.0100%	8h	1.5382	+0.293%	$375.1M	$147.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5371	+0.222%	$300.3M	$890.1M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5368	+0.203%	$109.7M	$167.6M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5367	+0.196%	$269.5M	$377.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5379	+0.274%	—	$3.7M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5388	+0.335%	$6.5M	$35.5M	—
edgeX XRPUSDC	+0.0100%	4h	1.5357	+0.131%	$667K	$106.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5369	+0.208%	$1.1M	$40.0M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5352	+0.098%	$1.0M	$902K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5368	+0.200%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5376	+0.254%	$48K	$458K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5368	+0.202%	$41K	$69K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5376	+0.255%	$828K	$82K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5375	+0.246%	$129K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5379	+0.274%	$30K	$1.8M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5372	+0.225%	$50.4M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5385	+0.313%	$54.7M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5367	+0.196%	$479K	$54K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5378	+0.265%	$2.1M	$7.2M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5371	+0.222%	$55K	$18K	3x	as long as short
Reya XRPRUSDPERP	+0.0213%	1h	1.5364	+0.179%	$1.4M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5390	+0.346%	$24.0M	$75.1M	125x	as long as short
Coinbase International XRP-PERP-INTX	+0.0224%	1h	1.5388	+0.333%	$5.8M	$47.0M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0243%	1h	1.5383	+0.297%	$14.9M	$70.2M	50x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5344	+0.046%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0318%	8h	1.5390	+0.346%	$2.1M	$35.4M	2.9x	as long as short
Backpack XRP_USDC_PERP	+0.0326%	1h	1.5390	+0.346%	$1.8M	$1.2M	25x	as long as short
Hyperliquid XRP	+0.0556%	1h	1.5397	+0.391%	$292.0M	$217.1M	20x	as long as short
Aftermath Perps XRPUSD	+0.0776%	1h	1.5361	+0.157%	$1K	$11K	10x	as long as short
RISEx XRP/USDC	+0.0828%	1h	1.5383	+0.303%	$513K	$753K	10x	as long as short