Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0232%/8h= −25.5% APRpaid last 24h −0.028%

Price spread now: Variational Omni against GMX+0.009%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.1479	L +0.0216% / S −0.0188%	pay 0.0027% / 1h	41m 14s	$10K	—	100x
Short	Variational Omni TRUMP	2.1481	−0.0017	pay 0.0008% / 4h	41m 14s	$657K	$482K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. 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 GMXbpFee Variational OmnibpOrdersPrice spread, now +0.009%Rate

Funding earned: −$48.82
Price spread: +0.009% → 0.000%: $0.89
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$59.92
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 18 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 18 min ago	5.04 bp	doesn't fit	12.1 bp −$121	doesn't fit	doesn't fit

GMX: 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.

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	−0.461%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0305%	1h	2.1475	−0.019%	$91	$6K	5x	as long as short
Lighter TRUMP	−0.0256%	1h	2.1471	−0.038%	$950K	$933K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1461	−0.083%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0215%	1h	2.1475	−0.019%	$404K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0092%	4h	2.1490	+0.051%	$7.6M	$50.6M	75x	as long as short
Variational Omni TRUMPshort	−0.0017%	4h	2.1481	+0.009%	$657K	$482K	—
dYdX TRUMP-USD	−0.0006%	1h	2.1486	+0.032%	$27K	$512	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0006%	8h	2.1476	−0.016%	$5K	$175	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1485	+0.029%	$40K	—	150x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	+0.0010%	4h	2.1480	+0.004%	$30.5M	$49.4M	50x	as long as short
edgeX TRUMPUSDC	+0.0016%	4h	2.1508	+0.134%	$105K	$263K	20x	as long as short
Binance TRUMPUSDT	+0.0023%	4h	2.1480	+0.004%	$60.4M	$241.2M	75x	as long as short
Extended TRUMP-USD	+0.0024%	1h	2.1464	−0.068%	$74K	$745K	25x	as long as short
Orderly PERP_TRUMP_USDC	+0.0049%	4h	2.1460	−0.089%	$4K	$215K	10x	as long as short
Aevo TRUMP-PERP	+0.0088%	1h	2.1456	−0.107%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0091%	4h	2.1480	+0.004%	$4.1M	$677K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1515	+0.167%	$14.2M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1477	−0.012%	$422K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1495	+0.074%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1490	+0.051%	$27.1M	$172.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1460	−0.089%	$405K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1480	+0.004%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1480	+0.004%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1501	+0.102%	$252K	$319K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1469	−0.046%	$185K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1500	+0.097%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1490	+0.051%	$498K	$2.1M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0216% / S −0.0188%	1h	2.1479	long leg	$10K	—	100x
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1504	+0.115%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1480	+0.004%	$278K	$281K	50x	as long as short