Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.016%

Price spread now: Lighter against Binance+0.146%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.117%+$12 on $10k

Price spread, last 4 days (all we have)−0.160%−$16 · spread now +0.146%, 7d avg −0.003%

Together, before fees−0.043%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.148% dearer against Binance than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TRUMPUSDT	2.1960	0.0100	pay 0.0050% / 4h	3h 35m	$62.8M	$223.4M	75x
Short	Lighter TRUMP	2.1992	0.0096	get 0.0012% / 1h	35m 34s	$979K	$766K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.146%Rate

Funding earned: −$0.84
Price spread: +0.146% → −0.003%: $14.83
Slippage, 4 orders: −$20.75
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$16.76
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Lighter: live order book, 35 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, 8 min ago	2.29 bp	7.3 bp −$7	14.7 bp −$147	40.2 bp −$4,021	269.6 bp −$134.8K
Sell Lighter live order book, 35 min ago	1.60 bp	10.4 bp −$10	33.6 bp −$336	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	−0.1608%	1h	2.1730	−1.047%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1962	+0.008%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2006	+0.212%	$28K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1976	+0.073%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1815	−0.660%	$119K	$249K	20x	as long as short
Deribit TRUMP_USDC-PERPETUAL	+0.0069%	1h	2.1984	+0.109%	$412K	$77K	10x	as long as short
Lighter TRUMPshort	+0.0096%	1h	2.1992	+0.146%	$979K	$766K	10x
Orderly PERP_TRUMP_USDC	+0.0096%	4h	2.1970	+0.046%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1990	+0.137%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2001	+0.185%	$458K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1996	+0.165%	$190K	$58K	10x	as long as short
Binance TRUMPUSDTlong	+0.0100%	4h	2.1960	long leg	$62.8M	$223.4M	75x
Bybit TRUMPUSDT	+0.0100%	4h	2.1970	+0.046%	$30.8M	$44.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1970	+0.046%	$27.1M	$153.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1990	+0.137%	$7.6M	$47.1M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1980	+0.091%	$476K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2010	+0.228%	$4.0M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1980	+0.091%	$15.9M	$21.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1972	+0.053%	$706K	$443K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1786	−0.790%	$190K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2020	+0.273%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1995	+0.159%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2040	+0.364%	$556K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1990	+0.138%	$76K	$593K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1985	+0.112%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0199%	1h	2.2014	+0.246%	$14.2M	$6.6M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1979	+0.088%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1880	−0.364%	$4.2M	$627K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0416%	1h	2.2028	+0.310%	$258K	$277K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1790	−0.774%	$283K	$273K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0782%	1h	2.2030	+0.317%	$1.3M	$2.5M	50x	as long as short