Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0408%/8h= −44.6% APRpaid last 24h −0.092%

Price spread now: Deribit against BloFin−0.092%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$520.525% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.522%−$52 on $10k

Price spread, last 4 days (all we have)+0.113%+$11 · spread now −0.092%, 7d avg +0.037%

Together, before fees−0.409%−$41 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Deribit is 0.129% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.037%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TRUMP-USDT	2.1720	0.0151	pay 0.0075% / 4h	3h 25m	$4.2M	$665K	75x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1700	−0.0257	pay 0.0032% / 1h	25m 03s	$408K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.092%Rate

Funding earned: −$85.58
Price spread: −0.092% → +0.037%: −$12.93
Slippage, 4 orders: −$33.47
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$150.98
Costs to cover: 0.525%
Break-even: never at this rate

Slippage from BloFin: live order book, 8 min ago; Deribit: live order book, 29 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 BloFin live order book, 8 min ago	6.88 bp	12.9 bp −$13	14.5 bp −$145	37.8 bp −$3,780	148.1 bp −$74.0K
Sell Deribit live order book, 29 min ago	6.42 bp	9.9 bp −$10	19.9 bp −$199	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	−0.1765%	1h	2.1580	−0.645%	$13K	$157K	12x	as long as short
Paradex TRUMP-USD-PERP	−0.0307%	8h	2.1703	−0.080%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0278%	1h	2.1685	−0.161%	$86	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0257%	1h	2.1700	−0.092%	$408K	$72K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	−0.134%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0242%	4h	2.1700	−0.092%	$7.9M	$51.7M	75x	as long as short
Binance TRUMPUSDT	−0.0089%	4h	2.1680	−0.184%	$61.4M	$246.0M	75x	as long as short
Extended TRUMP-USD	−0.0088%	1h	2.1679	−0.190%	$75K	$716K	25x	as long as short
edgeX TRUMPUSDC	−0.0040%	4h	2.1704	−0.075%	$106K	$263K	20x	as long as short
Variational Omni TRUMP	−0.0020%	4h	2.1681	−0.180%	$670K	$516K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX TRUMP-USD	−0.0005%	1h	2.1720	0.000%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1714	−0.027%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0021%	4h	2.1700	−0.092%	$3K	$190K	10x	as long as short
Bybit TRUMPUSDT	+0.0063%	4h	2.1680	−0.184%	$30.7M	$50.2M	50x	as long as short
Aevo TRUMP-PERP	+0.0064%	1h	2.1680	−0.184%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0072%	1h	2.1687	−0.152%	$957K	$975K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0092%	4h	2.1790	+0.322%	$179K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1704	−0.074%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1717	−0.012%	$409K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1711	−0.040%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1680	−0.184%	$27.7M	$179.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1690	−0.138%	$407K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1690	−0.138%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1690	−0.138%	$15.7M	$25.9M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1710	−0.046%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1720	0.000%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDTlong	+0.0151%	4h	2.1720	long leg	$4.2M	$665K	75x
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1714	−0.026%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0172%	1h	2.1716	−0.018%	$1.3M	$2.2M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0245%	1h	2.1717	−0.014%	$341K	$376K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1890	+0.783%	$283K	$279K	50x	as long as short