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updated —XRP Funding Arbitrage Backtester
Size per leg$
R-trip cost
on +$10000.00 per leg · +$20000.00 turnover · funding covers it in ~2.1d
Funding ArbitrageLooking at price convergence? → /price-pair
Current Net APR · Snapshot
+27.83%
3d Period Avg+16.80%
swing±6.48%
LONG Backpack · nowXRP_USDC_PERP
−16.87%
3d avg:−5.84%
SHORT Variational · now
+10.96%
3d avg:+10.96%
Entry Spread Now
−0.030%
Against youL ask 0.9890 · S bid 0.9887−$3.03 at entry
24h range −0.30%…+0.68% · median −0.00%
Long pays every1hShort pays every8h
LONGmaker0.020%/taker0.050%SHORTmaker0%/taker0%
Loading Funding History…
↗Total PnL
−$3.65
−0.04%
$Avg Daily PnL
+$4.14
+0.0414%
★Best Day
+$4.33
Nov 14
◎Open Interest
Backpack$876.0K
Variational$2.33M⚡Funding APR
+15.11%
annualized · funding only
⚠Execution Cost
−$16.07
entry + exit fees
⏱Payback
3.9d
to break even
◧24h Volume
Backpack$1.35MVariational$8.00MLoading Cumulative PnL…
How it works: Funding PnL is bucketed daily from real settlement history. Execution Cost = round-trip taker fees + live L2 orderbook slippage on both legs (−$16.07 for size $10,000). Slippage scales nonlinearly with position size — try a larger size to see thin upper levels run out.