Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0245%/8h= +26.8% APRpaid last 24h −0.023%

Price spread now: Lighter against Variational Omni−0.015%7-day average −0.005% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.061%+$6 on $10k

Price spread, last 4 days (all we have)+0.281%+$28 · spread now −0.015%, 7d avg −0.005%

Together, before fees+0.342%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$34 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.061% in total (about 6.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1351	−0.0157	get 0.0078% / 4h	1h 31m	$659K	$424K	—
Short	Lighter TRUMP	2.1348	0.0088	get 0.0011% / 1h	31m 58s	$943K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.015%Rate

Funding earned: $51.43
Price spread: −0.015% → −0.005%: −$1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $50.44
Costs to cover: 0.000%
Break-even: 0.1 days

Slippage unknown: Variational Omni: RFQ quote, 12 min ago; Lighter: live order book, 4 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, 12 min ago	5.06 bp	doesn't fit	17.1 bp −$171	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.64 bp	9.2 bp −$9	32.0 bp −$320	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	−0.1927%	1h	2.1290	−0.287%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1357	+0.025%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0208%	1h	2.1355	+0.017%	$74K	$651K	25x	as long as short
Binance TRUMPUSDT	−0.0208%	4h	2.1370	+0.088%	$60.3M	$252.0M	75x	as long as short
Variational Omni TRUMPlong	−0.0157%	4h	2.1351	long leg	$659K	$424K	—
edgeX TRUMPUSDC	−0.0110%	4h	2.1406	+0.258%	$104K	$264K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0099%	4h	2.1350	−0.006%	$26.4M	$184.1M	50x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1384	+0.154%	$1.3M	$2.3M	50x	as long as short
Gate TRUMP_USDT	−0.0098%	4h	2.1360	+0.041%	$7.6M	$53.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0089%	4h	2.1360	+0.041%	$30.3M	$52.6M	50x	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	−0.0063%	8h	2.1352	+0.005%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0061%	4h	2.1370	+0.088%	$5K	$246K	10x	as long as short
SoDEX TRUMP-USD	−0.0020%	1h	2.1357	+0.027%	$80	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1384	+0.153%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1362	+0.050%	$402K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1365	+0.064%	$40K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0028%	4h	2.1370	+0.088%	$4.1M	$685K	75x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1350	−0.006%	$19K	—	3x	as long as short
Lighter TRUMPshort	+0.0088%	1h	2.1348	−0.015%	$943K	$1.0M	10x
Hyperliquid TRUMP	+0.0100%	1h	2.1368	+0.078%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1377	+0.118%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1378	+0.125%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1350	−0.006%	$397K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1370	+0.088%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1360	+0.041%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1385	+0.159%	$177K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1390	+0.181%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1390	+0.181%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1370	+0.087%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1360	+0.041%	$202K	$421K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0338%	1h	2.1390	+0.181%	$379K	$415K	10x	as long as short