Resting state electroencephalography (rsEEG) is widely used to investigate intrinsic brain activity, with the potential for detecting neurophysiological abnormalities in clinical conditions from neurodegenerative disease to developmental disorders. When interpreting quantitative rsEEG changes, a key question is: how much deviation from a healthy normal brain state indicates a clinically significant change? Here, we build on the existing rsEEG variability literature by quantifying how this baseline rsEEG range can be attributed to common but underinvestigated sources of variability: experiment day, time of day, and pre-recording exercise level. We found that even within individuals, frequency band powers and entropy measures can vary by 7% (sample entropy and relative alpha power) to 28% (absolute delta power). Absolute and relative delta power increased significantly after running, while relative theta power decreased significantly. Relative beta and gamma power were significantly higher in the afternoon compared to morning trials. Sample entropy and alpha power were relatively consistent. The coefficients of variability we found are similar to some clinical rsEEG effect sizes identified in prior literature, bringing into question the clinical significance of these effect sizes. Furthermore, time of day and activity level accounted for more rsEEG variability than experiment day, indicating the potential to reduce variability by controlling for these factors in repeated-measures studies.