Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h +0.015%

Price spread now: Variational Omni against Lighter+0.326%7-day average +0.004% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.066%−$7 on $10k

Price spread, last 4 days (all we have)−0.533%−$53 · spread now +0.326%, 7d avg +0.004%

Together, before fees−0.598%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$60 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.323% dearer against Lighter than usual: you sell high and buy low (spread +0.326% now, against its 7-day average of +0.004%): +$32 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 9.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1800	0.0096	pay 0.0012% / 1h	29m 23s	$962K	$975K	10x
Short	Variational Omni TRUMP	2.1871	−0.0013	pay 0.0006% / 4h	3h 29m	$675K	$516K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpFee Variational OmnibpOrdersPrice spread, now +0.326%Rate

Funding earned: −$22.85
Price spread: +0.326% → +0.004%: $32.29
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $9.44
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 21 min ago; Variational Omni: RFQ quote, 25 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 Lighter live order book, 21 min ago	0.92 bp	6.2 bp −$6	33.2 bp −$332	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 25 min ago	5.03 bp	doesn't fit	17.8 bp −$178	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	−0.1765%	1h	2.1740	−0.275%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1791	−0.041%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0234%	1h	2.1845	+0.206%	$87	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0117%	1h	2.1798	−0.009%	$410K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0079%	4h	2.1800	0.000%	$61.7M	$245.2M	75x	as long as short
Extended TRUMP-USD	−0.0072%	1h	2.1794	−0.029%	$75K	$716K	25x	as long as short
Gate TRUMP_USDT	−0.0038%	4h	2.1800	0.000%	$7.8M	$51.5M	75x	as long as short
edgeX TRUMPUSDC	−0.0034%	4h	2.1827	+0.125%	$106K	$265K	20x	as long as short
Variational Omni TRUMPshort	−0.0013%	4h	2.1871	+0.326%	$675K	$516K	—
dYdX TRUMP-USD	0.0000%	1h	2.1836	+0.163%	$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
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1810	+0.044%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0023%	8h	2.1793	−0.030%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0025%	4h	2.1790	−0.046%	$3K	$187K	10x	as long as short
Aevo TRUMP-PERP	+0.0064%	1h	2.1790	−0.046%	$19K	—	3x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.1800	long leg	$962K	$975K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.1815	+0.069%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1812	+0.056%	$410K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1813	+0.060%	$188K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1800	0.000%	$31.0M	$50.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1790	−0.046%	$27.9M	$179.8M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1790	−0.046%	$409K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1810	+0.046%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1800	0.000%	$15.8M	$25.9M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1870	+0.321%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1860	+0.275%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.321%	$498K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0169%	4h	2.1870	+0.321%	$4.2M	$684K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1809	+0.040%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1868	+0.312%	$1.3M	$2.2M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0307%	1h	2.1861	+0.280%	$343K	$376K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1890	+0.413%	$283K	$279K	50x	as long as short