Funding arb · Price arb /

XRP

all XRP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.020%

Price spread now: Injective against Variational Omni−0.777%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.777% cheaper against Variational Omni than usual: you would sell low and buy high (−$78 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5410	0.0100	pay 0.0100% / 8h	2h 03m	$6.6M	$24.8M	—
Short	Injective XRP/USDC PERP	1.5290	0.0040	get 0.0005% / 1h	3m 07s	$2K	$86K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Variational Omni. 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 Variational OmnibpFee InjectivebpOrdersPrice spread, now −0.777%Rate

Funding earned: −$12.68
Price spread: −0.777% → 0.000%: −$77.75
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$90.45
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Injective: no order-book sample. 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 Variational Omni RFQ quote, 1 min ago	2.05 bp	doesn't fit	4.7 bp −$47	32.5 bp −$3,254	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	1.5415	+0.034%	$7K	$2K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5405	−0.033%	$1.1M	$101K	10x	as long as short
Phoenix XRP	0.0000%	1h	1.5410	+0.001%	$69K	$89K	15x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5422	+0.081%	$258K	—	150x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0009%	1h	1.5430	+0.131%	$9.4M	$24.8M	50x	as long as short
Injective XRP/USDC PERPshort	+0.0040%	1h	1.5290	−0.777%	$2K	$86K	30x
Orderly PERP_XRP_USDC	+0.0049%	8h	1.5426	+0.105%	$80K	$933K	50x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0076% / S +0.0163%	1h	1.5422	+0.077%	$908K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5432	+0.141%	$3.0M	$11.6M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5433	+0.151%	$446K	$3.1M	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	1.5418	+0.056%	$1.1M	$5.3M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5429	+0.126%	$39.3M	$73.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5418	+0.051%	$673K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5438	+0.183%	$555.3M	$1.88B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5439	+0.189%	$347.5M	$853.5M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5443	+0.215%	$125.7M	$850.7M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5393	−0.109%	$573K	$40K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5422	+0.079%	$121K	$688K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5472	+0.401%	$1.7M	$470K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5428	+0.118%	$368.1M	$134.6M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5429	+0.125%	$286.5M	$825.6M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5429	+0.123%	$112.2M	$149.4M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5446	+0.235%	$267.7M	$347.2M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5435	+0.163%	—	$114.7M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5410	long leg	$6.6M	$24.8M	—
edgeX XRPUSDC	+0.0100%	4h	1.5390	−0.126%	$669K	$96.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5398	−0.076%	$1.1M	$41.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5386	−0.154%	$1.0M	$879K	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5410	+0.002%	—	$10K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5421	+0.073%	$51K	$438K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5418	+0.053%	$42K	$61K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5424	+0.093%	$831K	$70K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5421	+0.072%	$129K	$1.7M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5426	+0.105%	$32K	$1.9M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5417	+0.049%	$50.7M	$14.9M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5426	+0.105%	$55.1M	$28.3M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5414	+0.029%	$481K	$54K	50x	as long as short
Katana Perps XRP-USD	+0.0101%	8h	1.5422	+0.079%	$12K	$240K	20x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5447	+0.239%	$2.1M	$7.0M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5425	+0.096%	$72K	$40K	3x	as long as short
01 Exchange XRPUSD	+0.0152%	1h	1.5423	+0.086%	$8K	$8K	10x	as long as short
Kraken Futures PF_XRPUSD	+0.0169%	1h	1.5425	+0.097%	$15.7M	$65.5M	50x	as long as short
Coinbase International XRP-PERP-INTX	+0.0192%	1h	1.5429	+0.125%	$5.6M	$45.0M	50x	as long as short
Backpack XRP_USDC_PERP	+0.0203%	1h	1.5444	+0.222%	$1.8M	$953K	25x	as long as short
Reya XRPRUSDPERP	+0.0211%	1h	1.5418	+0.053%	$1.4M	$9K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5434	+0.157%	$24.3M	$69.2M	125x	as long as short
Kalshi KXXRPPERP	+0.0301%	8h	1.5442	+0.209%	$1.8M	$32.0M	2.9x	as long as short
Hibachi XRP/USDT-P	+0.0312%	1h	1.5398	−0.074%	$19K	$66K	7x	as long as short
RISEx XRP/USDC	+0.0431%	1h	1.5425	+0.099%	$405K	$498K	10x	as long as short
Hyperliquid XRP	+0.0517%	1h	1.5451	+0.267%	$285.3M	$191.0M	20x	as long as short
Aftermath Perps XRPUSD	+0.0572%	1h	1.5424	+0.094%	$1K	$11K	10x	as long as short