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: Bitget against Deribit+0.037%48s7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as 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−$470.472% of the position

Long on Deribit Short on Bitget

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)−0.077%−$8 · spread now +0.037%, 7d avg −0.035%

Together, before fees+0.150%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.072% dearer against Deribit than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.035%. The two prices were read 48 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	2.1872	0	get 0.0000% / 1h	1m 29s	$410K	$77K	10x
Short	Bitget TRUMPUSDT	2.1880	0.0100	get 0.0050% / 4h	1m 29s	$15.5M	$21.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.037%Rate

Funding earned: $21
Price spread: +0.037% → −0.035%: $7.16
Slippage, 4 orders: −$28.24
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$19.07
Costs to cover: 0.472%
Break-even: 13.4 days

Slippage from Deribit: live order book, 12 min ago; Bitget: live order book, 7 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, 12 min ago	7.33 bp	15.0 bp −$15	23.7 bp −$237	doesn't fit	doesn't fit
Sell Bitget live order book, 7 min ago	2.28 bp	11.5 bp −$11	16.0 bp −$160	50.2 bp −$5,018	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	2.1730	−0.649%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1872	0.000%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1877	+0.022%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1872	long leg	$410K	$77K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1876	+0.018%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1872	0.000%	$119K	$250K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1860	−0.055%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1870	−0.009%	$980K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1867	−0.021%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1887	+0.066%	$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	+0.037%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1868	−0.019%	$62.9M	$226.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1870	−0.009%	$30.7M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1870	−0.009%	$27.2M	$153.2M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1870	−0.009%	$7.4M	$48.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	−0.009%	$474K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1880	+0.037%	$4.3M	$10.3M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1880	+0.037%	$15.5M	$21.9M	75x
Variational Omni TRUMP	+0.0100%	4h	2.1822	−0.228%	$637K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1885	+0.058%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1890	+0.082%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1865	−0.032%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1900	+0.128%	$554K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1866	−0.029%	$75K	$467K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1865	−0.032%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1871	−0.004%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0226%	1h	2.1904	+0.146%	$14.2M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.101%	$4.2M	$632K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.860%	$285K	$388K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0471%	1h	2.1897	+0.114%	$256K	$282K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0873%	1h	2.1896	+0.109%	$1.3M	$2.5M	50x	as long as short