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: Katana Perps against Variational Omni−0.174%7-day average −0.036% · you buy dearer than you sell

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

Long on Variational Omni Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.029%−$3 on $10k

Price spread, last 7 days+0.128%+$13 · spread now −0.174%, 7d avg −0.036%

Together, before fees+0.099%+ Points / potential airdropVariational Omni: Active · farm board+$10 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: Katana Perps is 0.138% cheaper against Variational Omni than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5198	0.0100	pay 0.0100% / 8h	5h 29m	$5.8M	$36.4M	—
Short	Katana Perps XRP-USD	1.5172	0.0100	get 0.0100% / 8h	5h 29m	$10K	$309K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Katana PerpsbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$0.04
Price spread: −0.174% → −0.036%: −$13.78
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$17.62
Costs to cover: 0.038%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Katana Perps: 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, 5 min ago	2.01 bp	doesn't fit	6.0 bp −$60	20.9 bp −$2,087	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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	1.5187	−0.075%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5188	−0.065%	$1.1M	$110K	10x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5183	−0.103%	$254K	—	150x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.379%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0034% / S +0.0043%	1h	1.5183	−0.103%	$820K	—	200x	as long as short
01 Exchange XRPUSD	+0.0072%	1h	1.5181	−0.114%	$8K	$8K	10x	as long as short
Orderly PERP_XRP_USDC	+0.0075%	8h	1.5179	−0.128%	$62K	$935K	50x	as long as short
Deribit XRP_USDC-PERPETUAL	+0.0079%	1h	1.5204	+0.037%	$7.7M	$25.3M	50x	as long as short
Lighter XRP	+0.0096%	1h	1.5186	−0.079%	$2.8M	$14.4M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5189	−0.062%	$513K	$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-USDshort	+0.0100%	8h	1.5172	−0.174%	$10K	$309K	20x
Nado XRP-PERP	+0.0100%	1h	1.5183	−0.105%	$1.0M	$5.9M	20x	as long as short
Hyperliquid XRP	+0.0100%	1h	1.5197	−0.009%	$281.6M	$221.5M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5187	−0.073%	$38.5M	$83.4M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5187	−0.075%	$610K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5185	−0.090%	$538.3M	$2.10B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5184	−0.095%	$344.8M	$927.4M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5181	−0.114%	$126.0M	$868.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5171	−0.180%	$565K	$28K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5187	−0.075%	$115K	$707K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5156	−0.278%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5183	−0.101%	$370.1M	$152.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5187	−0.075%	$292.1M	$898.7M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5181	−0.114%	$108.5M	$171.5M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5185	−0.088%	$268.1M	$380.6M	125x	as long as short
BingX XRP-USDT	+0.0100%	8h	1.5186	−0.081%	—	$126.1M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5198	long leg	$5.8M	$36.4M	—
edgeX XRPUSDC	+0.0100%	4h	1.5177	−0.143%	$659K	$109.3M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5214	+0.101%	$1.1M	$35.5M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5208	+0.063%	$1.2M	$1.0M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5190	−0.053%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5188	−0.068%	$42K	$450K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5185	−0.088%	$41K	$68K	20x	as long as short
Derive XRP-PERP	+0.0100%	1h	1.5197	−0.009%	$818K	$73K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5207	+0.053%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5201	+0.017%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5202	+0.021%	$49.8M	$15.6M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5202	+0.024%	$54.1M	$30.0M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5188	−0.069%	$474K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5181	−0.113%	$2.0M	$6.8M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5198	−0.002%	$58K	$25K	3x	as long as short
Backpack XRP_USDC_PERP	+0.0207%	1h	1.5208	+0.063%	$1.9M	$1.3M	25x	as long as short
Reya XRPRUSDPERP	+0.0215%	1h	1.5184	−0.095%	$1.3M	$7K	15x	as long as short
Coinbase International XRP-PERP-INTX	+0.0216%	1h	1.5202	+0.024%	$5.6M	$46.6M	50x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5209	+0.070%	$24.2M	$75.2M	125x	as long as short
Hibachi XRP/USDT-P	+0.0248%	1h	1.5198	−0.002%	$17K	$82K	7x	as long as short
Kraken Futures PF_XRPUSD	+0.0272%	1h	1.5199	+0.003%	$14.5M	$73.1M	50x	as long as short
Kalshi KXXRPPERP	+0.0354%	8h	1.5217	+0.122%	$2.2M	$34.9M	2.9x	as long as short
RISEx XRP/USDC	+0.0484%	1h	1.5187	−0.076%	$517K	$776K	10x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	−0.055%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0680%	1h	1.5182	−0.106%	$2K	$14K	10x	as long as short