Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.031%

Price spread now: Deribit against Variational Omni−0.213%7-day average +0.023% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$1 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.213%, 7d avg +0.023%

Together, before fees+0.122%+ Points / potential airdropVariational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.236% cheaper against Variational Omni than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1831	0.0100	pay 0.0050% / 4h	1h 28m	$685K	$453K	—
Short	Deribit TRUMP_USDC-PERPETUAL	2.1784	0	get 0.0000% / 1h	28m 26s	$410K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.213%Rate

Funding earned: −$21
Price spread: −0.213% → +0.023%: −$23.6
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$51.6
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 36 min ago; Deribit: live order book, 35 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, 36 min ago	4.98 bp	doesn't fit	16.7 bp −$167	doesn't fit	doesn't fit
Sell Deribit live order book, 35 min ago	6.82 bp	10.3 bp −$10	doesn't fit	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	−0.1659%	1h	2.1710	−0.552%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1741	−0.412%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0074%	4h	2.1750	−0.369%	$7.6M	$49.9M	75x	as long as short
Lighter TRUMP	−0.0024%	1h	2.1741	−0.410%	$968K	$795K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1764	−0.304%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1784	−0.213%	$410K	$72K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1810	−0.094%	$42K	—	150x	as long as short
SoDEX TRUMP-USD	+0.0021%	1h	2.1760	−0.323%	$84	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0040%	8h	2.1731	−0.457%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1761	−0.320%	$106K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	+0.0053%	4h	2.1730	−0.460%	$31.0M	$48.4M	50x	as long as short
Orderly PERP_TRUMP_USDC	+0.0075%	4h	2.1780	−0.231%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1763	−0.309%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1773	−0.264%	$430K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1755	−0.347%	$187K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1734	−0.444%	$62.9M	$237.4M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1730	−0.460%	$27.5M	$170.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1760	−0.323%	$424K	$144K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1760	−0.323%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1750	−0.369%	$15.5M	$25.1M	75x	as long as short
Variational Omni TRUMPlong	+0.0100%	4h	2.1831	long leg	$685K	$453K	—
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1840	+0.044%	$178K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1840	+0.043%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1790	−0.186%	$533K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1729	−0.465%	$115K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1759	−0.328%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0121%	1h	2.1780	−0.231%	$255K	$320K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1807	−0.109%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0288%	1h	2.1779	−0.236%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1760	−0.323%	$4.2M	$657K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1650	−0.827%	$280K	$297K	50x	as long as short