Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h −0.026%

Price spread now: Deribit against Binance+0.010%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$370.375% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 4 days (all we have)+0.008%+$1 · spread now +0.010%, 7d avg +0.034%

Together, before fees−0.097%−$10 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.024% cheaper against Binance than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.034%). If the spread goes back, that is −$2 on $10k: about 30 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.105%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TRUMPUSDT	2.1485	−0.0280	get 0.0140% / 4h	2h 13m	$60.6M	$251.0M	75x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1487	−0.0215	pay 0.0027% / 1h	13m 00s	$405K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.010%Rate

Funding earned: $13.62
Price spread: +0.010% → +0.034%: −$2.4
Slippage, 4 orders: −$20.48
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$26.25
Costs to cover: 0.375%
Break-even: 20.5 days

Slippage from Binance: live order book, 16 min ago; Deribit: live order book, 36 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 Binance live order book, 16 min ago	2.36 bp	7.4 bp −$7	11.2 bp −$112	31.5 bp −$3,150	249.6 bp −$124.8K
Sell Deribit live order book, 36 min ago	6.27 bp	9.8 bp −$10	20.8 bp −$208	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	2.1360	−0.581%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0392%	1h	2.1471	−0.064%	$948K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0341%	1h	2.1475	−0.046%	$82	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0300%	4h	2.1490	+0.024%	$30.4M	$51.9M	50x	as long as short
Binance TRUMPUSDTlong	−0.0280%	4h	2.1485	long leg	$60.6M	$251.0M	75x
Extended TRUMP-USD	−0.0280%	1h	2.1474	−0.050%	$74K	$744K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1482	−0.015%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0221%	4h	2.1411	−0.341%	$661K	$426K	—	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0215%	1h	2.1487	+0.010%	$405K	$72K	10x
Paradex TRUMP-USD-PERP	−0.0199%	8h	2.1472	−0.058%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0140%	4h	2.1480	−0.022%	$7.7M	$53.7M	75x	as long as short
edgeX TRUMPUSDC	−0.0139%	4h	2.1420	−0.303%	$104K	$265K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0084%	4h	2.1470	−0.069%	$27.0M	$182.8M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0057%	4h	2.1480	−0.022%	$5K	$228K	10x	as long as short
BloFin TRUMP-USDT	−0.0040%	4h	2.1480	−0.022%	$4.1M	$688K	75x	as long as short
dYdX TRUMP-USD	−0.0019%	1h	2.1476	−0.042%	$27K	$506	5x	as long as short
GRVT TRUMP_USDT_Perp	−0.0002%	4h	2.1440	−0.209%	$182K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1461	−0.110%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1495	+0.046%	$41K	—	150x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1500	+0.071%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1496	+0.052%	$404K	$772K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1478	−0.030%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1490	+0.024%	$401K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1480	−0.022%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1480	−0.022%	$15.4M	$26.8M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1510	+0.117%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1510	+0.117%	$482K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1499	+0.064%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0198%	1h	2.1500	+0.069%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0239%	1h	2.1518	+0.154%	$383K	$411K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1480	−0.022%	$237K	$362K	50x	as long as short