Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.031%

Price spread now: Deribit against Bitget+0.005%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$470.472% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now +0.005%, 7d avg +0.035%

Together, before fees−0.191%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.030% cheaper against Bitget than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TRUMPUSDT	2.1900	0.0100	pay 0.0050% / 4h	0m 53s	$15.5M	$21.9M	75x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1901	0	get 0.0000% / 1h	0m 53s	$411K	$77K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$21
Price spread: +0.005% → +0.035%: −$3.05
Slippage, 4 orders: −$28.24
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$71.28
Costs to cover: 0.472%
Break-even: never at this rate

Slippage from Bitget: live order book, 8 min ago; Deribit: live order book, 13 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 Bitget live order book, 8 min ago	2.28 bp	10.0 bp −$10	13.2 bp −$132	38.3 bp −$3,828	doesn't fit
Sell Deribit live order book, 13 min ago	7.33 bp	10.8 bp −$11	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	−0.1537%	1h	2.1760	−0.639%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1872	−0.128%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1877	−0.106%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1901	+0.005%	$411K	$77K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1886	−0.063%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1872	−0.128%	$119K	$250K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1890	−0.046%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1896	−0.018%	$982K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1867	−0.149%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1906	+0.027%	$455K	$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	2.1880	−0.091%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1890	−0.046%	$63.0M	$227.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1880	−0.091%	$30.7M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.091%	$27.2M	$153.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	−0.046%	$7.4M	$48.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.091%	$474K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.046%	$4.3M	$10.3M	50x	as long as short
Bitget TRUMPUSDTlong	+0.0100%	4h	2.1900	long leg	$15.5M	$21.9M	75x
Variational Omni TRUMP	+0.0100%	4h	2.1862	−0.173%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1885	−0.069%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	+0.046%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	−0.023%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.091%	$554K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1876	−0.111%	$75K	$467K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.091%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1883	−0.079%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0226%	1h	2.1919	+0.087%	$14.2M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1900	0.000%	$4.2M	$633K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.731%	$285K	$388K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0472%	1h	2.1922	+0.100%	$256K	$283K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0872%	1h	2.1922	+0.100%	$1.3M	$2.5M	50x	as long as short