Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Variational Omni against Bybit−0.209%7-day average −0.006% · you buy dearer than you sell

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

Long on Bybit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.030%−$3 on $10k

Price spread, last 7 days+0.193%+$19 · spread now −0.209%, 7d avg −0.006%

Together, before fees+0.163%+ Points / potential airdropVariational Omni: Active · farm board+$16 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: Variational Omni is 0.203% cheaper against Bybit than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.1890	0.0100	pay 0.0050% / 4h	2h 22m	$30.5M	$42.1M	50x
Short	Variational Omni TRUMP	2.1844	0.0100	get 0.0050% / 4h	2h 22m	$680K	$262K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Bybit. 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 BybitbpFee Variational OmnibpOrdersPrice spread, now −0.209%Rate

Funding earned: $0
Price spread: −0.209% → −0.006%: −$20.32
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$31.32
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Variational Omni: RFQ quote, 1 min ago. 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 Bybit live order book, 1 min ago	2.29 bp	8.6 bp −$9	22.4 bp −$224	216.0 bp −$21.6K	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	5.01 bp	doesn't fit	21.9 bp −$219	doesn't fit	doesn't fit

TRUMP on 31 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
Injective TRUMP/USDC PERP	−0.1787%	1h	2.1710	−0.822%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1874	−0.073%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0130%	1h	2.1890	+0.002%	$1.1M	$2.1M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0024%	1h	2.1882	−0.037%	$410K	$79K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1879	−0.051%	$27K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1877	−0.058%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1803	−0.396%	$119K	$247K	20x	as long as short
Lighter TRUMP	+0.0056%	1h	2.1870	−0.091%	$973K	$660K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0076%	8h	2.1883	−0.033%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1870	−0.091%	$3K	$249K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1889	−0.006%	$459K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1890	−0.001%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1880	−0.044%	$62.3M	$215.4M	75x	as long as short
Bybit TRUMPUSDTlong	+0.0100%	4h	2.1890	long leg	$30.5M	$42.1M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.046%	$26.8M	$147.8M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1880	−0.046%	$7.4M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	−0.091%	$480K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1880	−0.046%	$4.7M	$10.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1890	0.000%	$15.5M	$20.3M	75x	as long as short
Variational Omni TRUMPshort	+0.0100%	4h	2.1844	−0.209%	$680K	$262K	—
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1830	−0.274%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1890	0.000%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1875	−0.069%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1890	0.000%	$513K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1877	−0.058%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1863	−0.122%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0137%	1h	2.1901	+0.050%	$14.1M	$7.4M	10x	as long as short
Backpack TRUMP_USDC_PERP	+0.0200%	1h	2.1903	+0.059%	$259K	$261K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1881	−0.043%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1950	+0.274%	$282K	$401K	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.183%	$4.2M	$496K	75x	as long as short