Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0141%/8h= +15.5% APRpaid last 24h +0.009%

Price spread now: Hyperliquid against Variational Omni+0.230%7-day average +0.041% · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.096%+$10 on $10k

Price spread, last 7 days−0.216%−$22 · spread now +0.230%, 7d avg +0.041%

Together, before fees−0.120%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.189% dearer against Variational Omni than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1651	−0.0041	get 0.0021% / 4h	3h 12m	$669K	$488K	—
Short	Hyperliquid TRUMP	2.1701	0.0100	get 0.0013% / 1h	12m 51s	$13.7M	$8.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.230%Rate

Funding earned: $29.69
Price spread: +0.230% → +0.041%: $18.86
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $39.55
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 41 min ago; Hyperliquid: live order book, 10 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, 41 min ago	5.03 bp	doesn't fit	14.7 bp −$147	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.46 bp	9.0 bp −$9	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	−0.1765%	1h	2.1540	−0.514%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0335%	1h	2.1696	+0.207%	$88	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0265%	8h	2.1709	+0.268%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1716	+0.301%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0164%	1h	2.1722	+0.327%	$409K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0133%	4h	2.1662	+0.051%	$61.2M	$246.5M	75x	as long as short
Gate TRUMP_USDT	−0.0130%	4h	2.1680	+0.133%	$7.9M	$52.2M	75x	as long as short
Extended TRUMP-USD	−0.0128%	1h	2.1674	+0.104%	$77K	$718K	25x	as long as short
Bybit TRUMPUSDT	−0.0101%	4h	2.1670	+0.087%	$30.8M	$50.5M	50x	as long as short
edgeX TRUMPUSDC	−0.0058%	4h	2.1655	+0.017%	$106K	$265K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMPlong	−0.0041%	4h	2.1651	long leg	$669K	$488K	—
Lighter TRUMP	−0.0008%	1h	2.1662	+0.050%	$957K	$976K	10x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1696	+0.207%	$27K	$512	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0007%	4h	2.1700	+0.225%	$5K	$195K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1731	+0.369%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0042%	4h	2.1654	+0.014%	$181K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0048%	1h	2.1686	+0.161%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0096%	4h	2.1680	+0.133%	$27.8M	$179.6M	50x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1701	+0.230%	$13.7M	$8.0M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1679	+0.130%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1710	+0.272%	$187K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1690	+0.179%	$407K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1700	+0.225%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1690	+0.179%	$15.7M	$26.2M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1730	+0.364%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1730	+0.364%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0112%	4h	2.1690	+0.179%	$4.2M	$663K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1735	+0.389%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0172%	1h	2.1728	+0.357%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0194%	1h	2.1727	+0.350%	$384K	$400K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1750	+0.456%	$284K	$281K	50x	as long as short