Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0384%/8h= −42.0% APRpaid last 24h −0.030%

Price spread now: Variational Omni against Kraken Futures−0.061%7-day average −0.064% · you buy dearer than you sell

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

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.149%−$15 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.061%, 7d avg −0.064%

Together, before fees−0.065%+ Points / potential airdropVariational Omni: Active · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.064%, so right now this pair is about funding alone: −$12 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1574	0.0016	pay 0.0002% / 1h	14m 27s	$1.3M	$2.1M	50x
Short	Variational Omni TRUMP	2.1560	−0.0368	pay 0.0184% / 4h	2h 14m	$669K	$403K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. 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 Kraken FuturesbpFee Variational OmnibpOrdersPrice spread, now −0.061%Rate

Funding earned: −$80.62
Price spread: −0.061% → −0.064%: $0.31
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$90.31
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 2 min ago; Variational Omni: RFQ quote, 37 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 Kraken Futures live order book, 2 min ago	2.31 bp	14.7 bp −$15	21.8 bp −$218	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 37 min ago	5.05 bp	doesn't fit	16.9 bp −$169	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
Injective TRUMP/USDC PERP	−0.1841%	1h	2.1600	+0.122%	$13K	$157K	12x	as long as short
Variational Omni TRUMPshort	−0.0368%	4h	2.1560	−0.061%	$669K	$403K	—
SoDEX TRUMP-USD	−0.0329%	1h	2.1550	−0.109%	$67	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0327%	4h	2.1530	−0.202%	$27.3M	$176.9M	50x	as long as short
Bybit TRUMPUSDT	−0.0322%	4h	2.1540	−0.156%	$31.4M	$49.4M	50x	as long as short
Binance TRUMPUSDT	−0.0299%	4h	2.1537	−0.170%	$63.2M	$240.9M	75x	as long as short
Extended TRUMP-USD	−0.0296%	1h	2.1526	−0.222%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0264%	1h	2.1541	−0.151%	$931K	$980K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1535	−0.177%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0240%	4h	2.1540	−0.156%	$7.8M	$48.5M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.248%	$133K	$516K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0208%	8h	2.1532	−0.190%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0167%	1h	2.1570	−0.017%	$387K	$78K	10x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1544	−0.137%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0120%	4h	2.1540	−0.156%	$4.2M	$10.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0098%	4h	2.1530	−0.202%	$392K	$151K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0077%	4h	2.1560	−0.063%	$5K	$311K	10x	as long as short
BloFin TRUMP-USDT	−0.0059%	4h	2.1540	−0.156%	$4.3M	$678K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1560	−0.063%	$15.4M	$25.6M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1576	+0.010%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1544	−0.139%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1584	+0.048%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0016%	1h	2.1574	long leg	$1.3M	$2.1M	50x
GRVT TRUMP_USDT_Perp	+0.0030%	4h	2.1560	−0.063%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1565	−0.040%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1550	−0.109%	$406K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1549	−0.114%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.030%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1570	−0.017%	$496K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1560	−0.063%	$95K	$250K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0188% / S −0.0182%	1h	2.1578	+0.022%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0227%	1h	2.1583	+0.044%	$386K	$402K	10x	as long as short