Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Variational Omni against Bulk+0.216%7-day average −0.016% · 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 4 days (all we have)−0.005%−$1 on $10k

Price spread, last 7 days−0.222%−$22 · spread now +0.216%, 7d avg −0.016%

Together, before fees−0.227%+ Points / potential airdropVariational Omni: Active · farm board−$23 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 0.232% dearer against Bulk than usual: you sell high and buy low, +$23 on $10k if it goes back to its 7-day average of −0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bulk XRP-USD	1.5212	0.0100	pay 0.0013% / 1h	27m 00s	$1.6M	$49K	20x
Short	Variational Omni XRP	1.5245	0.0100	get 0.0100% / 8h	3h 27m	$4.9M	$38.3M	—

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 +0.216%Rate

Funding earned: $0
Price spread: +0.216% → −0.016%: $23.18
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: $16.18
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Bulk: live order book, 2 min ago; Variational Omni: RFQ quote, 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 Bulk live order book, 2 min ago	0.33 bp	3.8 bp −$4	5.6 bp −$56	14.2 bp −$1,416	30.3 bp −$15.2K
Sell Variational Omni RFQ quote, 2 min ago	2.04 bp	doesn't fit	4.8 bp −$48	18.8 bp −$1,878	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	1.5192	−0.131%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5187	−0.161%	$1.1M	$115K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5190	−0.148%	$254K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0013%	1h	1.5195	−0.112%	$7.8M	$25.4M	50x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5192	−0.128%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.288%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5190	−0.148%	$793K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5197	−0.096%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5198	−0.092%	$497K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5196	−0.105%	$10K	$347K	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	1.5193	−0.122%	$989K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5192	−0.131%	$38.5M	$85.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5197	−0.096%	$609K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5191	−0.136%	$535.2M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5199	−0.085%	$347.3M	$943.1M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5199	−0.085%	$126.9M	$888.1M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5182	−0.197%	$566K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5199	−0.085%	$134K	$705K	20x	as long as short
Bulk XRP-USDlong	+0.0100%	1h	1.5212	long leg	$1.6M	$49K	20x
Gate XRP_USDT	+0.0100%	8h	1.5194	−0.118%	$369.7M	$155.5M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5190	−0.145%	$296.0M	$903.9M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5195	−0.114%	$109.2M	$177.7M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5197	−0.099%	$269.6M	$389.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5191	−0.138%	—	$4.1M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5245	+0.216%	$4.9M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5228	+0.103%	$661K	$110.0M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5219	+0.046%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5252	+0.263%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5197	−0.099%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5196	−0.105%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5189	−0.152%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5187	−0.164%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5188	−0.158%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5195	−0.111%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5192	−0.131%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5191	−0.138%	$49.7M	$15.8M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5193	−0.125%	$54.1M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5194	−0.120%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5183	−0.190%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5187	−0.168%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5197	−0.099%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5198	−0.092%	$5.7M	$47.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5192	−0.132%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5184	−0.184%	$24.1M	$76.1M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0273%	1h	1.5203	−0.059%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5231	+0.127%	$17K	$82K	7x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5198	−0.091%	$518K	$776K	10x	as long as short
Kalshi KXXRPPERP	+0.0359%	8h	1.5201	−0.072%	$1.9M	$35.2M	2.9x	as long as short
Hyperliquid XRP	+0.0395%	1h	1.5211	−0.007%	$301.2M	$245.9M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5230	+0.118%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0677%	1h	1.5213	+0.006%	$2K	$15K	10x	as long as short