Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h −0.031%

Price spread now: Lighter against Bitget−0.051%7-day average −0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

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

costs, in and out, $10k−$350.350% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)+0.555%+$56 · spread now −0.051%, 7d avg −0.004%

Together, before fees+0.543%+ Points / potential airdropLighter: Season 3 · farm board+$54 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.047% cheaper against Bitget than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TRUMPUSDT	2.1560	0.0050	pay 0.0025% / 4h	3h 50m	$15.4M	$26.6M	75x
Short	Lighter TRUMP	2.1549	−0.0128	pay 0.0016% / 1h	50m 38s	$942K	$988K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$37.38
Price spread: −0.051% → −0.004%: −$4.72
Slippage, 4 orders: −$22.96
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$77.06
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Lighter: live order book, 5 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, 3 min ago	2.33 bp	12.9 bp −$13	17.0 bp −$170	51.0 bp −$5,095	doesn't fit
Sell Lighter live order book, 5 min ago	1.86 bp	7.4 bp −$7	33.1 bp −$331	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	−0.696%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0454%	1h	2.1555	−0.023%	$74	$6K	5x	as long as short
Variational Omni TRUMP	−0.0310%	4h	2.1561	+0.007%	$663K	$421K	—	as long as short
Bybit TRUMPUSDT	−0.0278%	4h	2.1540	−0.093%	$30.8M	$52.0M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1562	+0.007%	$5	—	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0219%	4h	2.1530	−0.139%	$27.0M	$183.5M	50x	as long as short
Binance TRUMPUSDT	−0.0217%	4h	2.1540	−0.093%	$61.0M	$247.1M	75x	as long as short
Extended TRUMP-USD	−0.0216%	1h	2.1540	−0.095%	$74K	$494K	25x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0213%	1h	2.1572	+0.056%	$406K	$65K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	−0.232%	$168K	$473K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0134%	8h	2.1546	−0.063%	$5K	$175	5x	as long as short
Lighter TRUMPshort	−0.0128%	1h	2.1549	−0.051%	$942K	$988K	10x
Gate TRUMP_USDT	−0.0116%	4h	2.1560	0.000%	$7.8M	$49.5M	75x	as long as short
edgeX TRUMPUSDC	−0.0106%	4h	2.1482	−0.361%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0088%	4h	2.1550	−0.046%	$5K	$290K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0018%	4h	2.1560	0.000%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1577	+0.077%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1580	+0.091%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0023%	4h	2.1540	−0.093%	$4.2M	$689K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1550	−0.046%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0028%	4h	2.1510	−0.232%	$181K	$4.3M	10x	as long as short
Bitget TRUMPUSDTlong	+0.0050%	4h	2.1560	long leg	$15.4M	$26.6M	75x
Hyperliquid TRUMP	+0.0100%	1h	2.1574	+0.065%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1551	−0.040%	$404K	$715K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1561	+0.005%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	−0.046%	$401K	$147K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	+0.046%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1610	+0.232%	$500K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1588	+0.128%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1580	+0.093%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0307%	1h	2.1586	+0.121%	$385K	$418K	10x	as long as short