Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1723%/8h= −188.7% APRpaid last 24h −0.520%

Price spread now: Injective against Variational Omni−0.141%76s7-day average −0.049% · you buy dearer than you sell

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

Long on Variational Omni Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.922%−$92 on $10k

Price spread, last 3 days (all we have)+0.316%+$32 · spread now −0.141%, 7d avg −0.049%

Together, before fees−0.606%+ Points / potential airdropVariational Omni: Active · farm board−$61 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Injective is 0.091% cheaper against Variational Omni than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.049%). Swap the legs. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1951	0.0100	pay 0.0050% / 4h	2h 18m	$691K	$448K	—
Short	Injective TRUMP/USDC PERP	2.1920	−0.1623	pay 0.0203% / 1h	18m 01s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.141%Rate

Funding earned: −$361.88
Price spread: −0.141% → −0.049%: −$9.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$371.05
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 51 min ago; Injective: live order book, 36 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, 51 min ago	4.94 bp	doesn't fit	17.3 bp −$173	doesn't fit	doesn't fit
Sell Injective live order book, 36 min ago	47.63 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit

TRUMP on 30 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 PERPshort	−0.1623%	1h	2.1920	−0.141%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1971	+0.091%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0094%	4h	2.1950	−0.004%	$7.8M	$49.3M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2016	+0.298%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2007	+0.255%	$414K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1994	+0.197%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1952	+0.003%	$107K	$263K	20x	as long as short
Lighter TRUMP	+0.0064%	1h	2.1994	+0.196%	$978K	$790K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0072%	8h	2.2010	+0.271%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0074%	1h	2.2005	+0.246%	$78	$6K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1980	+0.132%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1971	+0.091%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1998	+0.213%	$435K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2014	+0.287%	$190K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1939	−0.052%	$63.8M	$236.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1940	−0.050%	$31.5M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1930	−0.095%	$28.9M	$170.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1960	+0.041%	$437K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1980	+0.132%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1940	−0.050%	$15.7M	$24.3M	75x	as long as short
Variational Omni TRUMPlong	+0.0100%	4h	2.1951	long leg	$691K	$448K	—
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2029	+0.357%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2020	+0.315%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2030	+0.360%	$558K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1929	−0.099%	$76K	$595K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1995	+0.201%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1991	+0.182%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0277%	1h	2.1988	+0.169%	$257K	$320K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0513%	1h	2.2025	+0.336%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2020	+0.315%	$286K	$305K	50x	as long as short