Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h −0.029%

Price spread now: Deribit against Variational Omni+0.064%7-day average +0.021% · you sell dearer than you buy

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 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 4 days (all we have)−0.065%−$6 · spread now +0.064%, 7d avg +0.021%

Together, before fees−0.083%+ Points / potential airdropVariational Omni: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Deribit is 0.043% dearer against Variational Omni than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1381	−0.0145	get 0.0073% / 4h	1h 29m	$660K	$424K	—
Short	Deribit TRUMP_USDC-PERPETUAL	2.1395	−0.0030	pay 0.0004% / 1h	29m 19s	$403K	$81K	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 +0.064%Rate

Funding earned: $24.11
Price spread: +0.064% → +0.021%: $4.3
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: $21.41
Costs to cover: 0.070%
Break-even: 0.8 days

Slippage unknown: Variational Omni: RFQ quote, 15 min ago; Deribit: live order book, 14 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, 15 min ago	5.06 bp	doesn't fit	17.1 bp −$171	doesn't fit	doesn't fit
Sell Deribit live order book, 14 min ago	8.18 bp	11.7 bp −$12	22.3 bp −$223	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	−0.1927%	1h	2.1260	−0.567%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1372	−0.045%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0200%	1h	2.1380	−0.007%	$74K	$625K	25x	as long as short
Binance TRUMPUSDT	−0.0200%	4h	2.1404	+0.106%	$60.4M	$251.7M	75x	as long as short
Variational Omni TRUMPlong	−0.0145%	4h	2.1381	long leg	$660K	$424K	—
edgeX TRUMPUSDC	−0.0104%	4h	2.1375	−0.028%	$104K	$265K	20x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1409	+0.131%	$1.3M	$2.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0094%	4h	2.1380	−0.006%	$26.5M	$184.2M	50x	as long as short
Gate TRUMP_USDT	−0.0080%	4h	2.1410	+0.134%	$7.7M	$53.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0073%	4h	2.1390	+0.041%	$30.4M	$52.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	−0.0059%	4h	2.1400	+0.088%	$5K	$248K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0054%	8h	2.1418	+0.172%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0030%	1h	2.1395	+0.064%	$403K	$81K	10x
SoDEX TRUMP-USD	−0.0003%	1h	2.1380	−0.006%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1386	+0.023%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1399	+0.081%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1378	−0.017%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0036%	4h	2.1410	+0.134%	$4.1M	$684K	75x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1409	+0.130%	$946K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1408	+0.125%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1417	+0.166%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1428	+0.219%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1400	+0.088%	$398K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1420	+0.181%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1390	+0.041%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1390	+0.041%	$175K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1420	+0.181%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1410	+0.134%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1400	+0.089%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1360	−0.099%	$202K	$421K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0367%	1h	2.1447	+0.307%	$380K	$415K	10x	as long as short