Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.031%

Price spread now: Deribit against Variational Omni+0.098%7-day average +0.023% · you sell dearer than you buy

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now +0.098%, 7d avg +0.023%

Together, before fees−0.189%+ Points / potential airdropVariational Omni: Active · farm board−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.075% dearer against Variational Omni than usual: you sell high and buy low (spread +0.098% now, against its 7-day average of +0.023%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 3 days (−0.015% in total) that is about 17 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1681	0.0100	pay 0.0050% / 4h	1h 36m	$681K	$453K	—
Short	Deribit TRUMP_USDC-PERPETUAL	2.1702	0	get 0.0000% / 1h	36m 41s	$408K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now +0.098%Rate

Funding earned: −$21
Price spread: +0.098% → +0.023%: $7.51
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$20.49
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 27 min ago; Deribit: live order book, 27 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 Variational Omni RFQ quote, 27 min ago	4.98 bp	doesn't fit	16.7 bp −$167	doesn't fit	doesn't fit
Sell Deribit live order book, 27 min ago	6.82 bp	10.3 bp −$10	doesn't fit	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	−0.1659%	1h	2.1560	−0.557%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1701	+0.095%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0088%	4h	2.1720	+0.181%	$7.6M	$49.6M	75x	as long as short
Lighter TRUMP	−0.0064%	1h	2.1716	+0.162%	$967K	$794K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1726	+0.207%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1702	+0.098%	$408K	$72K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1714	+0.154%	$42K	—	150x	as long as short
SoDEX TRUMP-USD	+0.0025%	1h	2.1695	+0.066%	$86	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0038%	8h	2.1727	+0.213%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1692	+0.051%	$105K	$263K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0077%	4h	2.1700	+0.089%	$4K	$239K	10x	as long as short
Bybit TRUMPUSDT	+0.0095%	4h	2.1700	+0.089%	$31.0M	$48.3M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1723	+0.195%	$14.3M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1736	+0.256%	$430K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1729	+0.224%	$187K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1704	+0.106%	$62.8M	$237.0M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1700	+0.089%	$27.4M	$169.7M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1730	+0.227%	$427K	$143K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1730	+0.227%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1730	+0.227%	$15.5M	$25.0M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1740	+0.273%	$256K	$318K	10x	as long as short
Variational Omni TRUMPlong	+0.0100%	4h	2.1681	long leg	$681K	$453K	—
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1670	−0.050%	$181K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1720	+0.181%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1690	+0.043%	$531K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1709	+0.130%	$115K	$702K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1701	+0.093%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1712	+0.146%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0289%	1h	2.1719	+0.178%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1710	+0.135%	$4.3M	$656K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1650	−0.142%	$280K	$297K	50x	as long as short