Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h +0.032%

Price spread now: Variational Omni against Deribit−0.244%7-day average −0.022% · you buy dearer than you sell

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

Long on Deribit Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.016%+$2 on $10k

Price spread, last 4 days (all we have)+0.320%+$32 · spread now −0.244%, 7d avg −0.022%

Together, before fees+0.335%+ Points / potential airdropVariational Omni: Active · farm board+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Variational Omni is 0.222% cheaper against Deribit than usual: you would sell low and buy high (−$22 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1584	0	get 0.0000% / 1h	12m 48s	$406K	$72K	10x
Short	Variational Omni TRUMP	2.1531	−0.0026	pay 0.0013% / 4h	12m 48s	$665K	$488K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Deribit. 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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.244%Rate

Funding earned: −$5.52
Price spread: −0.244% → −0.022%: −$22.22
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$34.75
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Deribit: live order book, 46 min ago; Variational Omni: RFQ quote, 46 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 Deribit live order book, 46 min ago	7.68 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 46 min ago	5.04 bp	doesn't fit	12.1 bp −$121	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	−0.1690%	1h	2.1420	−0.760%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1567	−0.081%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0102%	1h	2.1575	−0.042%	$94	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0044%	4h	2.1560	−0.111%	$7.6M	$51.1M	75x	as long as short
Variational Omni TRUMPshort	−0.0026%	4h	2.1531	−0.244%	$665K	$488K	—
Lighter TRUMP	−0.0024%	1h	2.1552	−0.148%	$954K	$957K	10x	as long as short
Extended TRUMP-USD	−0.0016%	1h	2.1549	−0.162%	$74K	$721K	25x	as long as short
Binance TRUMPUSDT	−0.0016%	4h	2.1552	−0.150%	$60.5M	$241.8M	75x	as long as short
edgeX TRUMPUSDC	−0.0005%	4h	2.1545	−0.178%	$105K	$265K	20x	as long as short
dYdX TRUMP-USD	−0.0002%	1h	2.1566	−0.084%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1584	long leg	$406K	$72K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1574	−0.046%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0037%	8h	2.1554	−0.139%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1570	−0.065%	$4K	$202K	10x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1566	−0.084%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1584	0.000%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1579	−0.023%	$423K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1573	−0.051%	$186K	$53K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1560	−0.111%	$30.6M	$49.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1550	−0.158%	$27.3M	$173.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1560	−0.111%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1570	−0.065%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1570	−0.065%	$15.6M	$25.5M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1598	+0.065%	$339K	$361K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1529	−0.254%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.074%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1590	+0.028%	$504K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1579	−0.022%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1603	+0.090%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0224%	4h	2.1570	−0.065%	$4.2M	$684K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1580	−0.019%	$279K	$276K	50x	as long as short