Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%

Price spread now: Variational Omni against Deribit−0.092%7-day average −0.025% · 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)+0.015%+$2 on $10k

Price spread, last 3 days (all we have)+0.147%+$15 · spread now −0.092%, 7d avg −0.025%

Together, before fees+0.162%+ Points / potential airdropVariational Omni: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.067% cheaper against Deribit than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of −0.025%). If the spread goes back, that is −$7 on $10k: about 2.2 days of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.015% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1891	0	get 0.0000% / 1h	15m 37s	$412K	$80K	10x
Short	Variational Omni TRUMP	2.1871	0.0100	get 0.0050% / 4h	2h 15m	$689K	$448K	—

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

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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 DeribitbpFee Variational OmnibpOrdersPrice spread, now −0.092%Rate

Funding earned: $21
Price spread: −0.092% → −0.025%: −$6.67
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: $7.33
Costs to cover: 0.070%
Break-even: 4.6 days

Slippage unknown: Deribit: live order book, 53 min ago; Variational Omni: RFQ quote, 53 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, 53 min ago	8.90 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 53 min ago	4.94 bp	doesn't fit	12.7 bp −$127	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 PERP	−0.1623%	1h	2.1890	−0.005%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1911	+0.092%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0074%	4h	2.1890	−0.005%	$7.7M	$49.5M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1896	+0.021%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1891	long leg	$412K	$80K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1895	+0.018%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1945	+0.247%	$107K	$263K	20x	as long as short
SoDEX TRUMP-USD	+0.0063%	1h	2.1880	−0.050%	$77	$6K	5x	as long as short
Lighter TRUMP	+0.0064%	1h	2.1874	−0.078%	$973K	$792K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0070%	8h	2.1889	−0.008%	$5K	$175	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	2.1880	−0.050%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1943	+0.238%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1901	+0.046%	$433K	$859K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1897	+0.027%	$189K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1891	−0.001%	$63.6M	$236.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1890	−0.005%	$31.4M	$48.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1920	+0.132%	$28.6M	$171.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	−0.142%	$435K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.005%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1920	+0.132%	$15.6M	$24.4M	75x	as long as short
Variational Omni TRUMPshort	+0.0100%	4h	2.1871	−0.092%	$689K	$448K	—
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1996	+0.481%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	+0.087%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1930	+0.178%	$556K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1890	−0.006%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.050%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1891	+0.002%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0265%	1h	2.1903	+0.055%	$256K	$321K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0515%	1h	2.1907	+0.072%	$1.3M	$2.4M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.1880	−0.050%	$284K	$303K	50x	as long as short