Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0284%/8h= +31.1% APRpaid last 24h +0.015%

Price spread now: edgeX against Deribit−0.108%7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$480.484% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.108%, 7d avg −0.043%

Together, before fees+0.150%+ Points / potential airdropedgeX: Active · farm board+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.065% cheaper against Deribit than usual: you would sell low and buy high (spread −0.108% now, against its 7-day average of −0.043%). If the spread goes back, that is −$6 on $10k: about 18 hours of funding at the current rate (+$9 a day). At the pace of the last 7 days (+0.112% in total) that is about 4.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.112% in total (about 5.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1210	−0.0410	get 0.0051% / 1h	31m 32s	$399K	$72K	10x
Short	edgeX TRUMPUSDC	2.1187	−0.0125	pay 0.0063% / 4h	2h 31m	$103K	$265K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.108%Rate

Funding earned: $59.67
Price spread: −0.108% → −0.043%: −$6.49
Slippage, 4 orders: −$32.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $4.82
Costs to cover: 0.484%
Break-even: 6.4 days

Slippage from Deribit: live order book, 17 min ago; edgeX: live order book, 16 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, 17 min ago	6.27 bp	9.8 bp −$10	23.4 bp −$234	doesn't fit	doesn't fit
Sell edgeX live order book, 16 min ago	6.99 bp	14.4 bp −$14	40.4 bp −$404	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	−0.1827%	1h	2.1180	−0.141%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0496%	1h	2.1218	+0.038%	$937K	$996K	10x	as long as short
SoDEX TRUMP-USD	−0.0467%	1h	2.1200	−0.047%	$83	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0410%	1h	2.1210	long leg	$399K	$72K	10x
Bybit TRUMPUSDT	−0.0320%	4h	2.1210	0.000%	$30.0M	$51.6M	50x	as long as short
Binance TRUMPUSDT	−0.0264%	4h	2.1221	+0.053%	$59.8M	$249.8M	75x	as long as short
Extended TRUMP-USD	−0.0256%	1h	2.1219	+0.044%	$76K	$746K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1212	+0.008%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0227%	8h	2.1226	+0.075%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0153%	4h	2.1322	+0.527%	$658K	$427K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0140%	4h	2.1230	+0.094%	$7.6M	$53.1M	75x	as long as short
edgeX TRUMPUSDCshort	−0.0125%	4h	2.1187	−0.108%	$103K	$265K	20x
OKX TRUMP-USDT-SWAP	−0.0052%	4h	2.1210	0.000%	$26.5M	$179.3M	50x	as long as short
GRVT TRUMP_USDT_Perp	−0.0048%	4h	2.1200	−0.047%	$175K	$4.7M	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0038%	4h	2.1200	−0.047%	$5K	$220K	10x	as long as short
dYdX TRUMP-USD	−0.0017%	1h	2.1246	+0.169%	$27K	$506	5x	as long as short
BloFin TRUMP-USDT	−0.0015%	4h	2.1190	−0.094%	$4.1M	$680K	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1225	+0.069%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1164	−0.219%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1232	+0.104%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1240	+0.141%	$399K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1226	+0.073%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1230	+0.094%	$395K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1240	+0.141%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1230	+0.094%	$15.2M	$26.6M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1230	+0.094%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1210	0.000%	$478K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1229	+0.088%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0184%	1h	2.1246	+0.170%	$380K	$409K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0200%	1h	2.1225	+0.069%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1200	−0.047%	$253K	$317K	50x	as long as short