Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1498%/8h= −164.0% APRpaid last 24h −0.503%

Price spread now: Injective against Variational Omni−0.515%7-day average −0.084% · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−1.061%−$106 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.515%, 7d avg −0.084%

Together, before fees−0.977%+ Points / potential airdropVariational Omni: Active · farm board−$98 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$45 a day on $10k at the current rate, and Injective is 0.432% cheaper against Variational Omni than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.084%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1712	−0.0331	get 0.0165% / 4h	3h 13m	$674K	$419K	—
Short	Injective TRUMP/USDC PERP	2.1600	−0.1829	pay 0.0229% / 1h	13m 01s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.515%Rate

Funding earned: −$314.51
Price spread: −0.515% → −0.084%: −$43.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$357.69
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 21 min ago; Injective: live order book, 6 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, 21 min ago	5.06 bp	doesn't fit	12.6 bp −$126	doesn't fit	doesn't fit
Sell Injective live order book, 6 min ago	39.23 bp	39.2 bp −$39	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 PERPshort	−0.1829%	1h	2.1600	−0.515%	$13K	$157K	12x
Bybit TRUMPUSDT	−0.0417%	4h	2.1650	−0.285%	$31.2M	$50.9M	50x	as long as short
Variational Omni TRUMPlong	−0.0331%	4h	2.1712	long leg	$674K	$419K	—
Deribit TRUMP_USDC-PERPETUAL	−0.0304%	1h	2.1648	−0.294%	$392K	$68K	10x	as long as short
SoDEX TRUMP-USD	−0.0280%	1h	2.1636	−0.349%	$68	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0255%	4h	2.1640	−0.331%	$27.3M	$181.4M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1641	−0.324%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0227%	4h	2.1650	−0.285%	$63.3M	$246.2M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1639	−0.334%	$75K	$491K	25x	as long as short
Lighter TRUMP	−0.0208%	1h	2.1634	−0.359%	$944K	$995K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0138%	8h	2.1649	−0.289%	$5K	$175	5x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1640	−0.331%	$143K	$511K	50x	as long as short
edgeX TRUMPUSDC	−0.0111%	4h	2.1691	−0.097%	$106K	$254K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0084%	4h	2.1630	−0.377%	$5K	$311K	10x	as long as short
Gate TRUMP_USDT	−0.0078%	4h	2.1660	−0.239%	$7.8M	$50.7M	75x	as long as short
KuCoin TRUMPUSDTM	−0.0048%	4h	2.1640	−0.331%	$4.2M	$10.6M	50x	as long as short
dYdX TRUMP-USD	−0.0012%	1h	2.1666	−0.213%	$26K	$1K	5x	as long as short
Bitget TRUMPUSDT	+0.0004%	4h	2.1660	−0.239%	$15.4M	$26.0M	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1664	−0.219%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0013%	4h	2.1640	−0.331%	$4.3M	$690K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1640	−0.331%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0066%	4h	2.1630	−0.377%	$402K	$150K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1670	−0.193%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1670	−0.193%	$412K	$651K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1667	−0.207%	$186K	$54K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1695	−0.075%	$183K	$4.2M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1660	−0.239%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1670	−0.193%	$501K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0120%	1h	2.1673	−0.180%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0170% / S −0.0143%	1h	2.1660	−0.237%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0365%	1h	2.1683	−0.133%	$384K	$414K	10x	as long as short