Funding arb · Price arb /

XRP

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Variational Omni against Extended+0.333%7-day average +0.032% · you sell dearer than you buy

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

Long on Extended Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 7 days−0.323%−$32 · spread now +0.333%, 7d avg +0.032%

Together, before fees−0.339%+ Points / potential airdropExtended: Active · Variational Omni: Active · farm board−$34 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 0.300% dearer against Extended than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of +0.032%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XRP-USD	1.5136	0.0104	pay 0.0013% / 1h	22m 24s	$2.0M	$6.7M	50x
Short	Variational Omni XRP	1.5187	0.0100	get 0.0100% / 8h	3h 22m	$4.9M	$38.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Extended. 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 ExtendedbpFee Variational OmnibpOrdersPrice spread, now +0.333%Rate

Funding earned: −$0.84
Price spread: +0.333% → +0.032%: $30.03
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $24.19
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Extended: 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 Extended live order book, 2 min ago	0.33 bp	2.8 bp −$3	4.9 bp −$49	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.05 bp	doesn't fit	3.4 bp −$34	12.0 bp −$1,201	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	1.5148	+0.077%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5148	+0.076%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5170	+0.222%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5153	+0.108%	$253K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5163	+0.179%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.799%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5150	+0.091%	$790K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5153	+0.109%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5153	+0.110%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5138	+0.011%	$9K	$348K	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	1.5144	+0.051%	$995K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5150	+0.092%	$38.7M	$85.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5150	+0.090%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	+0.103%	$534.3M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5151	+0.097%	$344.9M	$944.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	+0.117%	$126.3M	$881.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5147	+0.070%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5145	+0.057%	$131K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	+0.186%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5153	+0.110%	$371.5M	$156.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5154	+0.117%	$295.6M	$905.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5155	+0.124%	$109.0M	$177.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5151	+0.097%	$268.7M	$389.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5149	+0.084%	—	$4.1M	—	as long as short
Variational Omni XRPshort	+0.0100%	8h	1.5187	+0.333%	$4.9M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.345%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5166	+0.194%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.394%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	+0.097%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5154	+0.117%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5149	+0.081%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDC	+0.0100%	8h	1.5150	+0.090%	$62K	$934K	50x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5167	+0.202%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5172	+0.236%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5166	+0.196%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5169	+0.216%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5160	+0.156%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5150	+0.093%	$472K	$55K	50x	as long as short
Extended XRP-USDlong	+0.0104%	1h	1.5136	long leg	$2.0M	$6.7M	50x
Aevo XRP-PERP	+0.0104%	1h	1.5148	+0.079%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5143	+0.044%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5175	+0.255%	$5.7M	$47.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5147	+0.072%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5163	+0.176%	$24.2M	$75.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0259%	1h	1.5170	+0.222%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5160	+0.154%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0302%	8h	1.5172	+0.236%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5143	+0.041%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0406%	1h	1.5169	+0.216%	$298.7M	$247.0M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.355%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0678%	1h	1.5184	+0.316%	$2K	$15K	10x	as long as short