He is open to the possibility that Hermes and Wrath might be working together to fool him. He doesn't know what they plan to gain from him, but that doesn't mean that there is nothing to gain from fooling him.
He just doesn't know enough, and he doesn't have enough power to protect his life. It is almost like the information broker all over again. He feels like a kid being used as a pawn in a game he doesn't know about.
So no, he can't trust Wrath. He changed the subject by asking, "What else can we gain from our relationship?"
She sighed and said. "There is no rush. You can take your time. I will just remain within the ring, trapped and unable to interact with the world until you are ready. If you become a demigod, you will be able to enter the space within the ring, and I will be able to find the other rings. If you gather all the other rings, you will be able to become god, and together we will build the pantheon."