Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0229%/8h= −25.1% APRpaid last 24h +0.011%

Price spread now: Variational Omni against Kraken Futures−0.087%7-day average −0.066% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.119%−$12 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.087%, 7d avg −0.066%

Together, before fees−0.009%+ Points / potential airdropVariational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Variational Omni is 0.021% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.066%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1570	0.0220	pay 0.0028% / 1h	19m 01s	$1.3M	$2.2M	50x
Short	Variational Omni TRUMP	2.1551	−0.0009	pay 0.0004% / 4h	19m 01s	$665K	$488K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.087%Rate

Funding earned: −$48.07
Price spread: −0.087% → −0.066%: −$2.1
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$60.18
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Variational Omni: RFQ quote, 40 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 Kraken Futures live order book, 5 min ago	2.32 bp	16.4 bp −$16	30.9 bp −$309	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 40 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	2.1430	−0.648%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1541	−0.132%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0124%	1h	2.1545	−0.115%	$95	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0075%	1h	2.1547	−0.105%	$406K	$72K	10x	as long as short
Lighter TRUMP	−0.0064%	1h	2.1536	−0.156%	$953K	$957K	10x	as long as short
Gate TRUMP_USDT	−0.0058%	4h	2.1540	−0.138%	$7.6M	$51.0M	75x	as long as short
Binance TRUMPUSDT	−0.0009%	4h	2.1528	−0.194%	$60.4M	$241.6M	75x	as long as short
Variational Omni TRUMPshort	−0.0009%	4h	2.1551	−0.087%	$665K	$488K	—
Extended TRUMP-USD	−0.0008%	1h	2.1519	−0.234%	$75K	$716K	25x	as long as short
dYdX TRUMP-USD	−0.0003%	1h	2.1576	+0.029%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0001%	4h	2.1570	−0.001%	$105K	$264K	20x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1555	−0.070%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0029%	8h	2.1543	−0.125%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1540	−0.138%	$4K	$206K	10x	as long as short
Bybit TRUMPUSDT	+0.0078%	4h	2.1530	−0.184%	$30.5M	$49.6M	50x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1535	−0.161%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1569	−0.003%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1559	−0.048%	$422K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1559	−0.048%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1520	−0.231%	$27.2M	$173.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	−0.184%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1550	−0.092%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1530	−0.184%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1562	−0.036%	$252K	$317K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1580	+0.048%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	+0.001%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1570	+0.001%	$503K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1554	−0.072%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0220%	1h	2.1570	long leg	$1.3M	$2.2M	50x
BloFin TRUMP-USDT	+0.0231%	4h	2.1530	−0.184%	$4.1M	$682K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1570	+0.001%	$279K	$281K	50x	as long as short