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 −0.009%

Price spread now: Orderly against Variational Omni−0.242%7-day average +0.011% · you buy dearer than you sell

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

Long on Variational Omni Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.013%−$1 on $10k

Price spread, last 4 days (all we have)+0.442%+$44 · spread now −0.242%, 7d avg +0.011%

Together, before fees+0.430%+ Points / potential airdropVariational Omni: Active · farm board+$43 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: Orderly is 0.252% cheaper against Variational Omni than usual: you would sell low and buy high, −$25 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XRP	1.5187	0.0100	pay 0.0100% / 8h	3h 22m	$4.9M	$38.3M	—
Short	Orderly PERP_XRP_USDC	1.5150	0.0100	get 0.0100% / 8h	3h 22m	$62K	$934K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.242%Rate

Funding earned: $0
Price spread: −0.242% → +0.011%: −$25.22
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$31.22
Costs to cover: 0.060%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Orderly: 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, 2 min ago	2.05 bp	doesn't fit	6.1 bp −$61	22.4 bp −$2,237	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	1.5148	−0.255%	$5K	$3K	20x	as long as short
dYdX XRP-USD	0.0000%	1h	1.5148	−0.256%	$1.1M	$115K	10x	as long as short
Deribit XRP_USDC-PERPETUAL	0.0000%	1h	1.5170	−0.110%	$7.8M	$25.5M	50x	as long as short
gTrade (Gains Network) XRP/USD	L +0.0003% / S −0.0004%	1h	1.5153	−0.224%	$253K	—	150x	as long as short
Kraken Futures PF_XRPUSD	+0.0022%	1h	1.5163	−0.153%	$14.4M	$74.5M	50x	as long as short
Injective XRP/USDC PERP	+0.0033%	1h	1.5560	+2.458%	$2K	$107K	30x	as long as short
GMX XRP/USD [ETH-USDC]	L +0.0054% / S +0.0009%	1h	1.5150	−0.241%	$790K	—	200x	as long as short
Lighter XRP	+0.0096%	1h	1.5153	−0.223%	$2.9M	$14.7M	20x	as long as short
Lighter RH XRP	+0.0096%	1h	1.5153	−0.222%	$495K	$3.3M	20x	as long as short
Katana Perps XRP-USD	+0.0098%	8h	1.5138	−0.321%	$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	−0.281%	$995K	$6.1M	20x	as long as short
Aster XRPUSDT	+0.0100%	8h	1.5150	−0.240%	$38.7M	$85.3M	100x	as long as short
Pacifica XRP	+0.0100%	1h	1.5150	−0.242%	$608K	$1.1M	20x	as long as short
Binance XRPUSDT	+0.0100%	8h	1.5152	−0.229%	$534.3M	$2.15B	100x	as long as short
Bybit XRPUSDT	+0.0100%	8h	1.5151	−0.235%	$344.9M	$944.6M	100x	as long as short
OKX XRP-USDT-SWAP	+0.0100%	8h	1.5154	−0.215%	$126.3M	$881.9M	100x	as long as short
Ondo Perps XRP-USD.P	+0.0100%	1h	1.5147	−0.261%	$565K	$27K	5x	as long as short
Arcus XRP-USD	+0.0100%	1h	1.5145	−0.275%	$131K	$715K	20x	as long as short
Bulk XRP-USD	+0.0100%	1h	1.5164	−0.146%	$1.6M	$49K	20x	as long as short
Gate XRP_USDT	+0.0100%	8h	1.5153	−0.222%	$371.5M	$156.2M	100x	as long as short
MEXC XRP_USDT	+0.0100%	8h	1.5154	−0.215%	$295.6M	$905.5M	300x	as long as short
KuCoin XRPUSDTM	+0.0100%	8h	1.5155	−0.208%	$109.0M	$177.8M	75x	as long as short
Bitget XRPUSDT	+0.0100%	8h	1.5151	−0.235%	$268.7M	$389.6M	125x	as long as short
BingX XRP-USDC	+0.0100%	8h	1.5149	−0.248%	—	$4.1M	—	as long as short
Variational Omni XRPlong	+0.0100%	8h	1.5187	long leg	$4.9M	$38.3M	—
edgeX XRPUSDC	+0.0100%	4h	1.5189	+0.013%	$660K	$110.1M	30x	as long as short
GRVT XRP_USDT_Perp	+0.0100%	8h	1.5166	−0.139%	$1.1M	$36.8M	20x	as long as short
ApeX Omni XRPUSDT	+0.0100%	1h	1.5196	+0.061%	$1.2M	$1.1M	50x	as long as short
Vest XRP-PERP	+0.0100%	1h	1.5151	−0.234%	—	$11K	10x	as long as short
Polymarket Perps XRP-USD	+0.0100%	1h	1.5154	−0.215%	$45K	$477K	20x	as long as short
Bullet XRP-USD	+0.0100%	1h	1.5149	−0.251%	$41K	$69K	20x	as long as short
Orderly PERP_XRP_USDCshort	+0.0100%	8h	1.5150	−0.242%	$62K	$934K	50x
Derive XRP-PERP	+0.0100%	1h	1.5167	−0.130%	$816K	$72K	10x	as long as short
SunX XRP-USDT	+0.0100%	8h	1.5172	−0.096%	$127K	$1.8M	30x	as long as short
SoDEX XRP-USD	+0.0100%	1h	1.5166	−0.136%	$28K	$1.7M	10x	as long as short
HTX XRP-USDT	+0.0100%	8h	1.5169	−0.116%	$49.6M	$15.7M	75x	as long as short
Phemex XRPUSDT	+0.0100%	8h	1.5160	−0.176%	$53.9M	$31.1M	50x	as long as short
Paradex XRP-USD-PERP	+0.0100%	8h	1.5150	−0.239%	$472K	$55K	50x	as long as short
Extended XRP-USD	+0.0104%	1h	1.5136	−0.332%	$2.0M	$6.7M	50x	as long as short
Aevo XRP-PERP	+0.0104%	1h	1.5148	−0.253%	$58K	$25K	3x	as long as short
01 Exchange XRPUSD	+0.0168%	1h	1.5143	−0.288%	$8K	$8K	10x	as long as short
Coinbase International XRP-PERP-INTX	+0.0184%	1h	1.5175	−0.077%	$5.7M	$47.7M	50x	as long as short
Reya XRPRUSDPERP	+0.0217%	1h	1.5147	−0.260%	$1.3M	$7K	15x	as long as short
BloFin XRP-USDT	+0.0220%	8h	1.5163	−0.156%	$24.2M	$75.6M	125x	as long as short
Backpack XRP_USDC_PERP	+0.0259%	1h	1.5170	−0.110%	$2.0M	$1.4M	25x	as long as short
Hibachi XRP/USDT-P	+0.0280%	1h	1.5160	−0.178%	$17K	$82K	7x	as long as short
Kalshi KXXRPPERP	+0.0302%	8h	1.5172	−0.097%	$1.9M	$35.1M	2.9x	as long as short
RISEx XRP/USDC	+0.0358%	1h	1.5143	−0.291%	$516K	$776K	10x	as long as short
Hyperliquid XRP	+0.0406%	1h	1.5169	−0.116%	$298.7M	$247.0M	20x	as long as short
Phoenix XRP	+0.0528%	1h	1.5190	+0.022%	$68K	$110K	15x	as long as short
Aftermath Perps XRPUSD	+0.0678%	1h	1.5184	−0.017%	$2K	$15K	10x	as long as short