Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0490%/8h= −53.7% APRnext payment −$2.45 per $10,000 · paid last 24h —

Price spread now: Variational Omni against Phemex−0.051%7-day average −0.108% · you buy dearer than you sell

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

Long on Phemex Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 6 hours (all we have)−0.058%−$6 · spread now −0.051%, 7d avg −0.108%

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

The price spread pays, funding is against you. Variational Omni is 0.058% dearer against Phemex than usual: you sell high and buy low (spread −0.051% now, against its 7-day average of −0.108%): +$6 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TRUMPUSDT	2.1530	0.0100	pay 0.0050% / 4h	8m 04s	$305K	$729K	50x
Short	Variational Omni TRUMP	2.1519	−0.0390	pay 0.0195% / 4h	8m 04s	$669K	$398K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Phemex. 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 PhemexbpFee Variational OmnibpOrdersPrice spread, now −0.051%Rate

Funding earned: −$102.9
Price spread: −0.051% → −0.108%: $5.78
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$109.12
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 18 min ago; Variational Omni: RFQ quote, 34 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 Phemex live order book, 18 min ago	11.71 bp	52.1 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 34 min ago	5.05 bp	doesn't fit	12.9 bp −$129	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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
Variational Omni TRUMPshort	−0.0390%	4h	2.1519	−0.051%	$669K	$398K	—
Bybit TRUMPUSDT	−0.0341%	4h	2.1530	0.000%	$31.3M	$47.6M	50x	as long as short
Extended TRUMP-USD	−0.0336%	1h	2.1532	+0.009%	$74K	$472K	25x	as long as short
Binance TRUMPUSDT	−0.0334%	4h	2.1540	+0.046%	$63.0M	$231.8M	75x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1550	+0.093%	$126K	$516K	50x	as long as short
MEXC TRUMP_USDC	−0.0314%	4h	2.1530	0.000%	$390K	$145K	125x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1529	−0.005%	$920K	$930K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0247%	4h	2.1520	−0.046%	$27.1M	$171.0M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1534	+0.019%	$5	—	10x	as long as short
KuCoin TRUMPUSDTM	−0.0222%	4h	2.1550	+0.093%	$4.3M	$9.7M	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	−0.0214%	1h	2.1551	+0.098%	$387K	$67K	10x	as long as short
edgeX TRUMPUSDC	−0.0174%	4h	2.1560	+0.138%	$105K	$252K	20x	as long as short
SoDEX TRUMP-USD	−0.0164%	1h	2.1545	+0.070%	$81	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0164%	4h	2.1540	+0.046%	$7.7M	$46.7M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0119%	8h	2.1539	+0.043%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0099%	4h	2.1570	+0.186%	$4.4M	$664K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0064%	4h	2.1540	+0.046%	$5K	$281K	10x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1574	+0.204%	$25K	$3K	5x	as long as short
Bitget TRUMPUSDT	−0.0002%	4h	2.1560	+0.139%	$15.6M	$24.1M	75x	as long as short
Aevo TRUMP-PERP	0.0000%	1h	2.1533	+0.012%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1562	+0.150%	$41K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1430	−0.464%	$12K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0054%	4h	2.1548	+0.082%	$176K	$3.9M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1557	+0.125%	$13.6M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1550	+0.093%	$405K	$645K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1558	+0.132%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	+0.186%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.232%	$486K	$2.5M	50x	as long as short
Phemex TRUMPUSDTlong	+0.0100%	4h	2.1530	long leg	$305K	$729K	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0234% / S −0.0239%	1h	2.1558	+0.128%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0277%	1h	2.1567	+0.172%	$383K	$383K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0324%	1h	2.1594	+0.295%	$1.5M	$2.1M	50x	as long as short