Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0253%/8h= +27.7% APRpaid last 24h +0.009%

Price spread now: Hyperliquid against Variational Omni+0.091%7-day average +0.041% · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.097%+$10 on $10k

Price spread, last 7 days−0.090%−$9 · spread now +0.091%, 7d avg +0.041%

Together, before fees+0.007%+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Hyperliquid is 0.049% dearer against Variational Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRUMP	2.1322	−0.0153	get 0.0077% / 4h	2h 35m	$658K	$427K	—
Short	Hyperliquid TRUMP	2.1341	0.0100	get 0.0013% / 1h	35m 06s	$13.4M	$8.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.091%Rate

Funding earned: $53.16
Price spread: +0.091% → +0.041%: $4.93
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $49.09
Costs to cover: 0.090%
Break-even: 0.5 days

Slippage unknown: Variational Omni: RFQ quote, 14 min ago; Hyperliquid: live order book, 8 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, 14 min ago	5.05 bp	doesn't fit	10.6 bp −$106	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.94 bp	9.7 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	−0.1827%	1h	2.1110	−0.993%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1358	+0.170%	$943K	$996K	10x	as long as short
SoDEX TRUMP-USD	−0.0440%	1h	2.1375	+0.250%	$86	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0271%	4h	2.1320	−0.008%	$30.2M	$51.4M	50x	as long as short
Binance TRUMPUSDT	−0.0251%	4h	2.1321	−0.004%	$60.1M	$248.9M	75x	as long as short
Extended TRUMP-USD	−0.0248%	1h	2.1369	+0.223%	$76K	$746K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1382	+0.282%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0224%	8h	2.1372	+0.236%	$5K	$175	5x	as long as short
Variational Omni TRUMPlong	−0.0153%	4h	2.1322	long leg	$658K	$427K	—
edgeX TRUMPUSDC	−0.0125%	4h	2.1301	−0.098%	$104K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	−0.0077%	1h	2.1385	+0.297%	$403K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0076%	4h	2.1360	+0.180%	$7.6M	$53.0M	75x	as long as short
GRVT TRUMP_USDT_Perp	−0.0050%	4h	2.1330	+0.039%	$178K	$4.6M	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0043%	4h	2.1290	−0.149%	$26.9M	$179.5M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0035%	4h	2.1360	+0.180%	$5K	$218K	10x	as long as short
dYdX TRUMP-USD	−0.0020%	1h	2.1376	+0.253%	$27K	$506	5x	as long as short
BloFin TRUMP-USDT	−0.0011%	4h	2.1370	+0.227%	$4.2M	$686K	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1385	+0.297%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1360	+0.180%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1341	+0.091%	$13.4M	$8.1M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1334	+0.060%	$401K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1372	+0.235%	$184K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1370	+0.227%	$398K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1380	+0.273%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1350	+0.133%	$15.4M	$26.6M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1400	+0.367%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1400	+0.367%	$483K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1381	+0.278%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0199%	1h	2.1399	+0.360%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0225%	1h	2.1376	+0.255%	$383K	$409K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1380	+0.273%	$259K	$315K	50x	as long as short