Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h +0.029%

Price spread now: Gate against Deribit+0.005%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$790.789% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.259%+$26 on $10k

Price spread, last 3 days (all we have)−0.032%−$3 · spread now +0.005%, 7d avg −0.028%

Together, before fees+0.227%+$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.033% dearer against Deribit than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.028%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 36 hours. Mind the row above: over the last 7 days funding on this pair paid +0.259%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.2019	0	get 0.0000% / 1h	23m 51s	$414K	$80K	10x
Short	Gate TRUMP_USDT	2.2020	−0.0072	pay 0.0036% / 4h	2h 23m	$7.8M	$49.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.005%Rate

Funding earned: −$15.12
Price spread: +0.005% → −0.028%: $3.26
Slippage, 4 orders: −$56.89
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$90.75
Costs to cover: 0.789%
Break-even: never at this rate

Slippage from Deribit: live order book, 45 min ago; Gate: live order book, 5 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, 45 min ago	8.90 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	4.54 bp	12.0 bp −$12	29.5 bp −$295	71.7 bp −$7,166	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1960	−0.268%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2001	−0.080%	$5	—	10x	as long as short
Gate TRUMP_USDTshort	−0.0072%	4h	2.2020	+0.005%	$7.8M	$49.2M	75x
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.166%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.2019	long leg	$414K	$80K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2014	−0.021%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2025	+0.027%	$107K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0072%	8h	2.2011	−0.036%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0076%	1h	2.2015	−0.018%	$78	$6K	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.2000	−0.086%	$4K	$239K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.2010	−0.041%	$979K	$790K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2052	+0.150%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2035	+0.074%	$436K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2053	+0.155%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2023	+0.018%	$64.0M	$235.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2010	−0.041%	$31.6M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2000	−0.086%	$29.1M	$170.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2010	−0.041%	$438K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2030	+0.050%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2030	+0.050%	$15.8M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2081	+0.283%	$696K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2046	+0.125%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2040	+0.095%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2060	+0.186%	$552K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2019	+0.001%	$76K	$597K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2005	−0.064%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2009	−0.043%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0293%	1h	2.2049	+0.136%	$258K	$319K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0512%	1h	2.2042	+0.104%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2190	+0.777%	$288K	$307K	50x	as long as short