Funding arb · Price arb /

XRP

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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: Variational Omni against Bybit+0.181%7-day average −0.001% · you sell dearer than you buy

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.006%+$1 on $10k

Price spread, last 7 days−0.198%−$20 · spread now +0.181%, 7d avg −0.001%

Together, before fees−0.191%+ Points / potential airdropVariational Omni: Active · farm board−$19 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 0.182% dearer against Bybit than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XRPUSDT	1.5172	0.0100	pay 0.0100% / 8h	5h 07m	$345.9M	$930.7M	100x
Short	Variational Omni XRP	1.5200	0.0100	get 0.0100% / 8h	5h 07m	$5.9M	$36.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now +0.181%Rate

Funding earned: $0
Price spread: +0.181% → −0.001%: $18.23
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $7.23
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 1 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 Bybit live order book, 1 min ago	0.33 bp	6.0 bp −$6	7.0 bp −$70	12.0 bp −$1,198	25.6 bp −$12.8K
Sell Variational Omni RFQ quote, 1 min ago	2.01 bp	doesn't fit	4.0 bp −$40	22.6 bp −$2,263	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	1.5179	+0.046%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5184	+0.079%	$1.1M	$110K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5183	+0.073%	$7.7M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5181	+0.059%	$254K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0031% / S +0.0037%	1h	1.5179	+0.043%	$833K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.557%	$2K	$107K	30x	as long as short
01 Exchange XRPUSD	+0.0064%	1h	1.5178	+0.040%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0077%	8h	1.5183	+0.073%	$62K	$935K	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5182	+0.063%	$2.8M	$14.5M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5184	+0.079%	$512K	$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-USD	+0.0100%	8h	1.5174	+0.013%	$10K	$311K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5175	+0.023%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5188	+0.105%	$282.2M	$223.2M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5177	+0.036%	$38.3M	$83.6M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5185	+0.083%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5173	+0.005%	$535.7M	$2.10B	100x	as long as short
Bybit XRPUSDTlong	+0.0100%	8h	1.5172	long leg	$345.9M	$930.7M	100x
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5175	+0.020%	$125.8M	$872.3M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5180	+0.053%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5184	+0.079%	$114K	$711K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5223	+0.336%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5174	+0.013%	$368.6M	$154.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5176	+0.026%	$298.7M	$904.2M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5177	+0.034%	$108.8M	$171.9M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5172	0.000%	$269.2M	$381.1M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5173	+0.007%	—	$126.0M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5200	+0.181%	$5.9M	$36.8M	—
edgeX XRPUSDC	+0.0100%	4h	1.5202	+0.196%	$660K	$107.8M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5227	+0.363%	$1.1M	$35.4M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5221	+0.323%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5181	+0.057%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5180	+0.053%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5181	+0.059%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5182	+0.067%	$817K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5190	+0.119%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5180	+0.053%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5179	+0.045%	$49.7M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5180	+0.053%	$53.9M	$30.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5190	+0.120%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5171	−0.004%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5180	+0.056%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0184%	1h	1.5188	+0.105%	$1.9M	$1.3M	25x	as long as short
Hibachi XRP/USDT-P	+0.0200%	1h	1.5207	+0.228%	$17K	$82K	7x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5176	+0.026%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5189	+0.112%	$5.6M	$46.8M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5191	+0.125%	$24.3M	$75.5M	125x	as long as short
Kraken Futures PF_XRPUSD	+0.0273%	1h	1.5180	+0.052%	$14.4M	$73.3M	50x	as long as short
Kalshi KXXRPPERP	+0.0344%	8h	1.5186	+0.092%	$2.1M	$34.6M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5182	+0.069%	$517K	$778K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5220	+0.316%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0659%	1h	1.5205	+0.220%	$2K	$14K	10x	as long as short