Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h +0.026%

Price spread now: Variational Omni against Deribit+0.046%7-day average −0.044% · you sell dearer than you buy

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.027%+$3 on $10k

Price spread, last 3 days (all we have)−0.192%−$19 · spread now +0.046%, 7d avg −0.044%

Together, before fees−0.164%+ Points / potential airdropVariational Omni: Active · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.090% dearer against Deribit than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.044%): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit XRP_USDC-PERPETUAL	1.5136	0.0147	pay 0.0018% / 1h	55m 49s	$7.7M	$25.2M	50x
Short	Variational Omni XRP	1.5143	0.0100	get 0.0100% / 8h	5h 55m	$6.1M	$35.9M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now +0.046%Rate

Funding earned: −$9.87
Price spread: +0.046% → −0.044%: $9.03
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$7.84
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Deribit: 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 Deribit live order book, 3 min ago	0.99 bp	5.7 bp −$6	7.4 bp −$74	45.7 bp −$4,566	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.05 bp	doesn't fit	8.3 bp −$83	28.0 bp −$2,804	doesn't fit

XRP on 50 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	1.5139	+0.020%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5126	−0.063%	$1.1M	$110K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5140	+0.026%	$67K	$110K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5133	−0.022%	$253K	—	150x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0025% / S +0.0051%	1h	1.5139	+0.021%	$800K	—	200x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.801%	$2K	$107K	30x	as long as short
Orderly PERP_XRP_USDC	+0.0074%	8h	1.5136	0.000%	$62K	$935K	50x	as long as short
01 Exchange XRPUSD	+0.0088%	1h	1.5145	+0.059%	$8K	$8K	10x	as long as short
Lighter XRP	+0.0096%	1h	1.5096	−0.267%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5108	−0.185%	$508K	$3.2M	20x	as long as short

Show all 50 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Katana Perps XRP-USD	+0.0100%	8h	1.5135	−0.007%	$9K	$305K	20x	as long as short
Nado XRP-PERP	+0.0100%	1h	1.5130	−0.036%	$970K	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5111	−0.165%	$279.3M	$221.4M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5113	−0.154%	$38.3M	$82.9M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5134	−0.015%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5091	−0.299%	$534.7M	$2.09B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5092	−0.291%	$340.7M	$925.0M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5093	−0.284%	$124.6M	$860.4M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5116	−0.132%	$561K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5144	+0.053%	$115K	$694K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5144	+0.053%	$1.6M	$214K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5108	−0.185%	$367.7M	$150.0M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5111	−0.165%	$292.8M	$890.8M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5117	−0.124%	$106.4M	$170.0M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5102	−0.225%	$266.2M	$379.3M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5109	−0.178%	—	$4.1M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5143	+0.046%	$6.1M	$35.9M	—
edgeX XRPUSDC	+0.0100%	4h	1.5125	−0.071%	$657K	$109.7M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5120	−0.106%	$1.1M	$36.3M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5121	−0.099%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5130	−0.038%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5142	+0.040%	$41K	$446K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5140	+0.028%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5139	+0.018%	$815K	$75K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5135	−0.007%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5132	−0.026%	$29K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5134	−0.014%	$49.6M	$15.4M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5122	−0.092%	$53.9M	$29.8M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5136	−0.002%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5109	−0.179%	$2.0M	$6.9M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5133	−0.021%	$58K	$25K	3x	as long as short
Deribit XRP_USDC-PERPETUALlong	+0.0147%	1h	1.5136	long leg	$7.7M	$25.2M	50x
Reya XRPRUSDPERP	+0.0215%	1h	1.5140	+0.027%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5132	−0.026%	$5.6M	$46.3M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0250%	1h	1.5129	−0.046%	$1.9M	$1.3M	25x	as long as short
Kraken Futures PF_XRPUSD	+0.0274%	1h	1.5128	−0.050%	$14.5M	$72.8M	50x	as long as short
Hibachi XRP/USDT-P	+0.0320%	1h	1.5107	−0.188%	$17K	$81K	7x	as long as short
Kalshi KXXRPPERP	+0.0356%	8h	1.5130	−0.040%	$2.1M	$35.0M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5146	+0.064%	$527K	$787K	10x	as long as short
Aftermath Perps XRPUSD	+0.0755%	1h	1.5127	−0.056%	$2K	$14K	10x	as long as short