Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0490%/8h= +53.7% APRnext payment +$2.45 per $10,000 · paid last 24h —

Price spread now: Phemex against Variational Omni+0.144%7-day average +0.108% · you sell dearer than you buy

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

Long on Variational Omni Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 6 hours (all we have)−0.035%−$4 · spread now +0.144%, 7d avg +0.108%

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Phemex is 0.035% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.108%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1519	−0.0390	get 0.0195% / 4h	9m 30s	$669K	$398K	—
Short	Phemex TRUMPUSDT	2.1550	0.0100	get 0.0050% / 4h	9m 30s	$305K	$726K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.144%Rate

Funding earned: $102.9
Price spread: +0.144% → +0.108%: $3.52
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: $94.42
Costs to cover: 0.120%
Break-even: 0.6 days

Slippage unknown: Variational Omni: RFQ quote, 33 min ago; Phemex: live order book, 16 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, 33 min ago	5.05 bp	doesn't fit	17.8 bp −$178	doesn't fit	doesn't fit
Sell Phemex live order book, 16 min ago	11.71 bp	54.5 bp −$55	doesn't fit	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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
Variational Omni TRUMPlong	−0.0390%	4h	2.1519	long leg	$669K	$398K	—
Bybit TRUMPUSDT	−0.0341%	4h	2.1580	+0.283%	$31.3M	$47.6M	50x	as long as short
Extended TRUMP-USD	−0.0336%	1h	2.1588	+0.318%	$74K	$472K	25x	as long as short
Binance TRUMPUSDT	−0.0334%	4h	2.1592	+0.341%	$63.1M	$231.9M	75x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1510	−0.042%	$125K	$512K	50x	as long as short
MEXC TRUMP_USDC	−0.0316%	4h	2.1570	+0.237%	$390K	$145K	125x	as long as short
Lighter TRUMP	−0.0264%	1h	2.1588	+0.320%	$922K	$930K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0252%	4h	2.1590	+0.330%	$27.2M	$171.5M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1579	+0.279%	$5	—	10x	as long as short
KuCoin TRUMPUSDTM	−0.0230%	4h	2.1580	+0.283%	$4.3M	$9.7M	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0174%	4h	2.1560	+0.188%	$105K	$252K	20x	as long as short
SoDEX TRUMP-USD	−0.0165%	1h	2.1545	+0.120%	$81	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0162%	4h	2.1590	+0.330%	$7.7M	$46.7M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0117%	8h	2.1594	+0.350%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0103%	4h	2.1550	+0.144%	$4.3M	$663K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0066%	4h	2.1530	+0.051%	$5K	$282K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0028%	1h	2.1547	+0.130%	$387K	$67K	10x	as long as short
Aevo TRUMP-PERP	−0.0008%	1h	2.1529	+0.044%	$19K	—	3x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1594	+0.349%	$25K	$3K	5x	as long as short
Bitget TRUMPUSDT	−0.0002%	4h	2.1590	+0.330%	$15.6M	$24.1M	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1553	+0.156%	$41K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1430	−0.414%	$12K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0054%	4h	2.1548	+0.133%	$176K	$3.9M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1599	+0.371%	$13.7M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1593	+0.344%	$406K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1600	+0.378%	$186K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	+0.237%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1560	+0.190%	$485K	$2.5M	50x	as long as short
Phemex TRUMPUSDTshort	+0.0100%	4h	2.1550	+0.144%	$305K	$726K	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0233% / S −0.0238%	1h	2.1554	+0.161%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0272%	1h	2.1577	+0.269%	$383K	$383K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0324%	1h	2.1587	+0.315%	$1.5M	$2.1M	50x	as long as short