Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0361%/8h= −39.6% APRpaid last 24h −0.037%

Price spread now: Deribit against Aster−0.105%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$440.438% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.160%−$16 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.105%, 7d avg +0.007%

Together, before fees−0.096%+ Points / potential airdropAster: Stage 5 · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Deribit is 0.113% cheaper against Aster than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.007%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.160% in total (about -8.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TRUMPUSDT	2.1529	0.0100	pay 0.0050% / 4h	3h 57m	$404K	$776K	20x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1506	−0.0261	pay 0.0033% / 1h	57m 25s	$405K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

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 AsterbpFee DeribitbpOrdersPrice spread, now −0.105%Rate

Funding earned: −$75.86
Price spread: −0.105% → +0.007%: −$11.27
Slippage, 4 orders: −$28.82
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$130.95
Costs to cover: 0.438%
Break-even: never at this rate

Slippage from Aster: live order book, 40 min ago; Deribit: live order book, 41 min ago.

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 Aster live order book, 40 min ago	4.67 bp	10.2 bp −$10	23.9 bp −$239	doesn't fit	doesn't fit
Sell Deribit live order book, 41 min ago	8.85 bp	12.4 bp −$12	21.6 bp −$216	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	−0.1829%	1h	2.1410	−0.551%	$12K	$157K	12x	as long as short
Bybit TRUMPUSDT	−0.0587%	4h	2.1510	−0.087%	$30.6M	$52.2M	50x	as long as short
SoDEX TRUMP-USD	−0.0521%	1h	2.1489	−0.184%	$72	$6K	5x	as long as short
Variational Omni TRUMP	−0.0283%	4h	2.1472	−0.263%	$663K	$421K	—	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0261%	1h	2.1506	−0.105%	$405K	$65K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1502	−0.124%	$5	—	10x	as long as short
Lighter TRUMP	−0.0224%	1h	2.1495	−0.156%	$940K	$988K	10x	as long as short
Binance TRUMPUSDT	−0.0209%	4h	2.1502	−0.124%	$60.8M	$248.7M	75x	as long as short
Extended TRUMP-USD	−0.0208%	1h	2.1490	−0.182%	$74K	$492K	25x	as long as short
OKX TRUMP-USDT-SWAP	−0.0199%	4h	2.1500	−0.133%	$26.9M	$183.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1420	−0.505%	$167K	$480K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0128%	8h	2.1497	−0.145%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0103%	4h	2.1484	−0.210%	$105K	$252K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0083%	4h	2.1510	−0.087%	$5K	$289K	10x	as long as short
Gate TRUMP_USDT	−0.0074%	4h	2.1510	−0.087%	$7.7M	$49.4M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1516	−0.060%	$27K	$501	5x	as long as short
KuCoin TRUMPUSDTM	0.0000%	4h	2.1500	−0.133%	$4.1M	$10.8M	50x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1540	+0.053%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0032%	4h	2.1480	−0.226%	$4.2M	$687K	75x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1486	−0.199%	$19K	—	3x	as long as short
Bitget TRUMPUSDT	+0.0058%	4h	2.1510	−0.087%	$15.4M	$26.7M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1531	+0.011%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDTlong	+0.0100%	4h	2.1529	long leg	$404K	$776K	20x
Pacifica TRUMP	+0.0100%	1h	2.1502	−0.124%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1510	−0.087%	$400K	$146K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1506	−0.108%	$181K	$4.3M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1530	+0.006%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1510	−0.087%	$495K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1518	−0.048%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1520	−0.040%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0353%	1h	2.1512	−0.077%	$384K	$418K	10x	as long as short