Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.098%

Price spread now: BloFin against Deribit−0.151%57s7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs+$4as 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−$490.492% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.528%+$53 on $10k

Price spread, last 3 days (all we have)+0.130%+$13 · spread now −0.151%, 7d avg −0.027%

Together, before fees+0.659%+$66 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.124% cheaper against Deribit than usual: you would sell low and buy high (spread −0.151% now, against its 7-day average of −0.027%). If the spread goes back, that is −$12 on $10k: about 29 hours of funding at the current rate (+$10 a day). The two prices were read 57 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	2.1893	0	get 0.0000% / 1h	14m 26s	$411K	$76K	10x
Short	BloFin TRUMP-USDT	2.1860	0.0340	get 0.0170% / 4h	1h 14m	$4.2M	$514K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.151%Rate

Funding earned: $71.4
Price spread: −0.151% → −0.027%: −$12.4
Slippage, 4 orders: −$30.17
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: $9.83
Costs to cover: 0.492%
Break-even: 6.0 days

Slippage from Deribit: live order book, 4 min ago; BloFin: live order book, 4 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, 4 min ago	5.71 bp	11.0 bp −$11	21.0 bp −$210	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	6.86 bp	12.9 bp −$13	20.4 bp −$204	39.5 bp −$3,949	142.9 bp −$71.5K

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	−0.1472%	1h	2.1770	−0.562%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1892	−0.004%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1887	−0.028%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1893	long leg	$411K	$76K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1896	+0.013%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1865	−0.128%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1890	−0.014%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1893	+0.002%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1893	0.000%	$974K	$682K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1912	+0.087%	$14.0M	$7.4M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1900	+0.031%	$455K	$833K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1900	+0.034%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1890	−0.014%	$62.5M	$219.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1890	−0.014%	$30.6M	$43.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1890	−0.014%	$26.9M	$150.5M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	−0.014%	$7.4M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.059%	$481K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1900	+0.032%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1900	+0.032%	$15.5M	$21.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1892	−0.003%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1900	+0.032%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1920	+0.123%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1885	−0.037%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.123%	$532K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1891	−0.011%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1885	−0.037%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1890	−0.015%	$10K	—	100x	as long as short
BloFin TRUMP-USDTshort	+0.0340%	4h	2.1860	−0.151%	$4.2M	$514K	75x
Backpack TRUMP_USDC_PERP	+0.0346%	1h	2.1919	+0.119%	$259K	$272K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1920	+0.123%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1924	+0.141%	$1.3M	$2.5M	50x	as long as short