Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0017%/8h= −1.8% APRpaid last 24h +0.032%

Price spread now: Variational Omni against Deribit−0.255%7-day average −0.022% · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.330%+$33 · spread now −0.255%, 7d avg −0.022%

Together, before fees+0.346%+ Points / potential airdropVariational Omni: Active · farm board+$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Variational Omni is 0.233% cheaper against Deribit than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1536	0	get 0.0000% / 1h	44m 08s	$405K	$72K	10x
Short	Variational Omni TRUMP	2.1481	−0.0017	pay 0.0008% / 4h	44m 08s	$657K	$482K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.255%Rate

Funding earned: −$3.47
Price spread: −0.255% → −0.022%: −$23.3
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$33.77
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 15 min ago; Variational Omni: RFQ quote, 15 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 Deribit live order book, 15 min ago	7.68 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 15 min ago	5.04 bp	doesn't fit	12.1 bp −$121	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	−0.1690%	1h	2.1380	−0.724%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0312%	1h	2.1535	−0.005%	$89	$6K	5x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1526	−0.046%	$952K	$933K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1536	0.000%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0112%	4h	2.1530	−0.028%	$7.6M	$50.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0021%	4h	2.1550	+0.065%	$30.6M	$49.3M	50x	as long as short
Variational Omni TRUMPshort	−0.0017%	4h	2.1481	−0.255%	$657K	$482K	—
dYdX TRUMP-USD	−0.0007%	1h	2.1496	−0.186%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1536	long leg	$405K	$72K	10x
Paradex TRUMP-USD-PERP	+0.0001%	8h	2.1487	−0.229%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1545	+0.040%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0021%	4h	2.1444	−0.426%	$105K	$265K	20x	as long as short
Extended TRUMP-USD	+0.0032%	1h	2.1519	−0.077%	$74K	$745K	25x	as long as short
Binance TRUMPUSDT	+0.0033%	4h	2.1543	+0.032%	$60.6M	$241.1M	75x	as long as short
Orderly PERP_TRUMP_USDC	+0.0051%	4h	2.1530	−0.028%	$4K	$217K	10x	as long as short
Aevo TRUMP-PERP	+0.0088%	1h	2.1541	+0.025%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1557	+0.098%	$14.2M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1546	+0.047%	$424K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1507	−0.135%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1540	+0.019%	$27.2M	$172.8M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	−0.028%	$406K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1550	+0.065%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1550	+0.065%	$15.6M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1569	+0.153%	$253K	$319K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1417	−0.552%	$171K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1560	+0.111%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1550	+0.065%	$499K	$2.1M	50x	as long as short
BloFin TRUMP-USDT	+0.0146%	4h	2.1470	−0.306%	$4.2M	$674K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1548	+0.054%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1557	+0.098%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1510	−0.121%	$279K	$281K	50x	as long as short