Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0188%/8h= +20.5% APRpaid last 24h −0.017%

Price spread now: Kraken Futures against Variational Omni−0.434%7-day average +0.067% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.109%+$11 on $10k

Price spread, last 3 days (all we have)+0.455%+$45 · spread now −0.434%, 7d avg +0.067%

Together, before fees+0.564%+ Points / potential airdropVariational Omni: Active · farm board+$56 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.500% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.434% now, against its 7-day average of +0.067%). If the spread goes back, that is −$50 on $10k: about 8.9 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1911	0.0100	pay 0.0050% / 4h	1h 57m	$690K	$447K	—
Short	Kraken Futures PF_TRUMPUSD	2.1816	0.0288	get 0.0036% / 1h	57m 05s	$1.3M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

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

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 Kraken FuturesbpOrdersPrice spread, now −0.434%Rate

Funding earned: $39.39
Price spread: −0.434% → +0.067%: −$50.05
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.65
Costs to cover: 0.100%
Break-even: 10.7 days

Slippage unknown: Variational Omni: RFQ quote, 7 min ago; Kraken Futures: live order book, 1 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, 7 min ago	4.98 bp	doesn't fit	16.7 bp −$167	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	4.57 bp	14.8 bp −$15	27.5 bp −$275	doesn't fit	doesn't fit

TRUMP on 30 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	2.1670	−1.101%	$13K	$157K	12x	as long as short
Lighter TRUMP	−0.0448%	1h	2.1779	−0.603%	$970K	$791K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1772	−0.637%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0090%	4h	2.1810	−0.462%	$7.7M	$48.8M	75x	as long as short
SoDEX TRUMP-USD	−0.0078%	1h	2.1785	−0.576%	$83	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1800	−0.507%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1797	−0.521%	$410K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1805	−0.484%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1918	+0.033%	$106K	$264K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0062%	8h	2.1771	−0.637%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0085%	4h	2.1790	−0.553%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1821	−0.412%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1804	−0.491%	$431K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1791	−0.550%	$188K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1860	−0.234%	$63.5M	$234.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1850	−0.279%	$31.4M	$47.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1840	−0.325%	$28.3M	$168.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1810	−0.462%	$434K	$141K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1790	−0.553%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1860	−0.234%	$15.7M	$24.4M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1842	−0.316%	$256K	$316K	10x	as long as short
Variational Omni TRUMPlong	+0.0100%	4h	2.1911	long leg	$690K	$447K	—
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1896	−0.068%	$176K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1810	−0.462%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1850	−0.279%	$535K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1830	−0.371%	$79K	$631K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1775	−0.621%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1807	−0.476%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0288%	1h	2.1816	−0.434%	$1.3M	$2.2M	50x
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.2000	+0.405%	$285K	$303K	50x	as long as short