What covenant does the Antichrist make with Israel?
The Antichrist makes a seven year covenant with Israel, promising peace and allowing them to rebuild their temple and resume sacrifices, but in the middle of that seven years he breaks his word, halts the sacrifices, and declares himself God in the temple.
Scripture shows that the Antichrist will confirm a covenant with Israel for one week, meaning seven years. Daniel 9:27 says, "And he shall confirm the covenant with many for one week: and in the midst of the week he shall cause the sacrifice and the oblation to cease, and for the overspreading of abominations he shall make it desolate." During the first half of this covenant, he acts as Israel's protector and deliverer, allowing them to rebuild the temple and restore their old form of worship with sacrifices. Israel does not oppose him during this time because he appears to be their friend and ally.
However, this peace is deceptive. Psalm 55:20-23 describes him this way: "He hath put forth his hands against such as be at peace with him: he hath broken his covenant. The words of his mouth were smoother than butter, but war was in his heart: his words were softer than oil, yet were they drawn swords." Daniel 8:25 confirms that "by peace shall destroy many." So the covenant begins with smooth words and apparent friendship, but war is hidden in his heart from the start.
In the middle of the seven years, he betrays Israel completely. He enters the temple, sits on the mercy seat, and declares himself God, demanding worship. Daniel 11:36-38 describes him exalting himself above every god and honoring a strange god with gold, silver, and precious stones. Second Thessalonians 2:3-4 speaks of "that man of sin" who is revealed and "opposeth and exalteth himself above all that is called God, or that is worshipped." Israel's refusal to worship him provokes him to attack Jerusalem and desolate it, and he causes the sacrifice and oblation to cease just as Daniel foretold.
This betrayal launches the second half of the seven years, described as "a time and times and the dividing of time" in Daniel 7:25 and Daniel 12:7, and as forty two months in Revelation. Matthew 24:15-21 ties this directly to "the abomination of desolation" standing in the holy place, warning that this begins "great tribulation, such as was not since the beginning of the world." So the covenant that seemed to bring Israel peace and a rebuilt temple becomes, at its midpoint, the very trigger for their greatest persecution.
The scriptures
And he shall confirm the covenant with many for one week: and in the midst of the week he shall cause the sacrifice and the oblation to cease, and for the overspreading of abominations he shall make it desolate, even until the consummation, and that determined shall be poured upon the desolate.
He hath put forth his hands against such as be at peace with him: he hath broken his covenant. The words of his mouth were smoother than butter, but war was in his heart: his words were softer than oil, yet were they drawn swords. Cast thy burden upon the LORD, and he shall sustain thee: he shall never suffer the righteous to be moved. But thou, O God, shalt bring them down into the pit of destruction: bloody and deceitful men shall not live out half their days; but I will trust in thee.
And in the latter time of their kingdom, when the transgressors are come to the full, a king of fierce countenance, and understanding dark sentences, shall stand up. And his power shall be mighty, but not by his own power: and he shall destroy wonderfully, and shall prosper, and practise, and shall destroy the mighty and the holy people. And through his policy also he shall cause craft to prosper in his hand; and he shall magnify himself in his heart, and by peace shall destroy many: he shall also stand up against the Prince of princes; but he shall be broken without hand.
And the king shall do according to his will; and he shall exalt himself, and magnify himself above every god, and shall speak marvellous things against the God of gods, and shall prosper till the indignation be accomplished: for that that is determined shall be done. Neither shall he regard the God of his fathers, nor the desire of women, nor regard any god: for he shall magnify himself above all. But in his estate shall he honour the God of forces: and a god whom his fathers knew not shall he honour with gold, and silver, and with precious stones, and pleasant things. Thus shall he do in the most strong holds with a strange god, whom he shall acknowledge and increase with glory: and he shall cause them to rule over many, and shall divide the land for gain.
Let no man deceive you by any means: for that day shall not come, except there come a falling away first, and that man of sin be revealed, the son of perdition; Who opposeth and exalteth himself above all that is called God, or that is worshipped; so that he as God sitteth in the temple of God, shewing himself that he is God.
And he shall speak great words against the most High, and shall wear out the saints of the most High, and think to change times and laws: and they shall be given into his hand until a time and times and the dividing of time.
And I heard the man clothed in linen, which was upon the waters of the river, when he held up his right hand and his left hand unto heaven, and sware by him that liveth for ever that it shall be for a time, times, and an half; and when he shall have accomplished to scatter the power of the holy people, all these things shall be finished.
When ye therefore shall see the abomination of desolation, spoken of by Daniel the prophet, stand in the holy place, (whoso readeth, let him understand:) Then let them which be in Judaea flee into the mountains: Let him which is on the housetop not come down to take any thing out of his house: Neither let him which is in the field return back to take his clothes. And woe unto them that are with child, and to them that give suck in those days! But pray ye that your flight be not in the winter, neither on the sabbath day: For then shall be great tribulation, such as was not since the beginning of the world to this time, no, nor ever shall be.
From the books
This answer is drawn from these passages in the Mary Banks Faith Library.