Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0020%/8h= +2.1% APRpaid last 24h +0.021%

Price spread now: Binance against Deribit+0.337%55s7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.375% of the position

Long on Deribit Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 4 days (all we have)−0.371%−$37 · spread now +0.337%, 7d avg −0.031%

Together, before fees−0.279%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Binance is 0.369% dearer against Deribit than usual: you sell high and buy low: +$37 more if the spread goes back to its 7-day average of −0.031%. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1338	−0.0406	get 0.0051% / 1h	50m 26s	$383K	$67K	10x
Short	Binance TRUMPUSDT	2.1410	−0.0386	pay 0.0193% / 4h	50m 26s	$62.6M	$236.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Deribit. 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 DeribitbpFee BinancebpOrdersPrice spread, now +0.337%Rate

Funding earned: $4.12
Price spread: +0.337% → −0.031%: $36.88
Slippage, 4 orders: −$20.53
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Binance: 5 bp × 2 orders: −$10
Net: $3.47
Costs to cover: 0.375%
Break-even: 1.1 days

Slippage from Deribit: live order book, 56 min ago; Binance: live order book, 1 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 Deribit live order book, 56 min ago	4.66 bp	13.7 bp −$14	26.3 bp −$263	doesn't fit	doesn't fit
Sell Binance live order book, 1 min ago	2.35 bp	7.3 bp −$7	12.4 bp −$124	37.4 bp −$3,739	185.8 bp −$92.9K

TRUMP on 32 exchanges

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
SoDEX TRUMP-USD	−0.0527%	1h	2.1328	−0.047%	$80	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0406%	1h	2.1338	long leg	$383K	$67K	10x
Binance TRUMPUSDTshort	−0.0386%	4h	2.1410	+0.337%	$62.6M	$236.5M	75x
Extended TRUMP-USD	−0.0384%	1h	2.1358	+0.092%	$74K	$483K	25x	as long as short
Variational Omni TRUMP	−0.0381%	4h	2.1339	+0.006%	$664K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0331%	4h	2.1360	+0.103%	$31.1M	$48.1M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1340	+0.009%	$128K	$520K	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0313%	4h	2.1380	+0.197%	$27.1M	$172.3M	50x	as long as short
MEXC TRUMP_USDC	−0.0274%	4h	2.1380	+0.197%	$387K	$142K	125x	as long as short
Lighter TRUMP	−0.0256%	1h	2.1333	−0.023%	$912K	$929K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1399	+0.287%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0238%	4h	2.1400	+0.291%	$7.7M	$46.2M	75x	as long as short
KuCoin TRUMPUSDTM	−0.0238%	4h	2.1380	+0.197%	$4.3M	$10.0M	50x	as long as short
edgeX TRUMPUSDC	−0.0187%	4h	2.1416	+0.367%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0166%	8h	2.1346	+0.038%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0139%	4h	2.1320	−0.084%	$4.3M	$654K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0089%	4h	2.1370	+0.150%	$5K	$292K	10x	as long as short
Bitget TRUMPUSDT	−0.0036%	4h	2.1380	+0.197%	$15.5M	$24.7M	75x	as long as short
dYdX TRUMP-USD	−0.0033%	1h	2.1354	+0.076%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1398	+0.280%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1421	+0.391%	$40K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0014%	4h	2.1427	+0.417%	$179K	$4.0M	10x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	+0.056%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1416	+0.363%	$13.6M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1410	+0.337%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1342	+0.019%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1360	+0.103%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1360	+0.103%	$485K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1340	+0.009%	$273K	$605K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0157%	1h	2.1364	+0.122%	$381K	$391K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0219% / S −0.0221%	1h	2.1425	+0.409%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0328%	1h	2.1369	+0.145%	$1.4M	$2.1M	50x	as long as short