Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0522%/8h= +57.1% APRpaid last 24h +0.039%

Price spread now: GRVT against Deribit−0.051%7-day average −0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Deribit Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.115%+$11 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.051%, 7d avg −0.037%

Together, before fees+0.188%+ Points / potential airdropGRVT: Active · farm board+$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.037%, so right now this pair is about funding alone: +$16 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.115% in total (about 6.0% 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	2.1551	−0.0492	get 0.0061% / 1h	44m 49s	$406K	$65K	10x
Short	GRVT TRUMP_USDT_Perp	2.1540	0.0030	get 0.0015% / 4h	3h 44m	$181K	$4.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.051%Rate

Funding earned: $109.59
Price spread: −0.051% → −0.037%: −$1.39
Slippage, 4 orders: −$31.61
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $60.59
Costs to cover: 0.476%
Break-even: 3.1 days

Slippage from Deribit: live order book, 54 min ago; GRVT: 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, 54 min ago	8.85 bp	12.4 bp −$12	22.8 bp −$228	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	4.64 bp	13.8 bp −$14	39.9 bp −$399	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	−0.1829%	1h	2.1450	−0.469%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0589%	1h	2.1545	−0.028%	$72	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0492%	1h	2.1551	long leg	$406K	$65K	10x
Variational Omni TRUMP	−0.0275%	4h	2.1541	−0.044%	$664K	$415K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	−0.044%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0230%	4h	2.1540	−0.051%	$61.1M	$247.4M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1539	−0.054%	$74K	$494K	25x	as long as short
OKX TRUMP-USDT-SWAP	−0.0223%	4h	2.1540	−0.051%	$27.0M	$183.4M	50x	as long as short
Lighter TRUMP	−0.0176%	1h	2.1544	−0.032%	$942K	$988K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	−0.190%	$168K	$473K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0134%	8h	2.1536	−0.068%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0108%	4h	2.1541	−0.045%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0092%	4h	2.1540	−0.051%	$5K	$291K	10x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1578	+0.125%	$27K	$501	5x	as long as short
KuCoin TRUMPUSDTM	−0.0006%	4h	2.1550	−0.005%	$4.1M	$10.7M	50x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1564	+0.060%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0013%	4h	2.1540	−0.051%	$4.2M	$689K	75x	as long as short
Gate TRUMP_USDT	+0.0018%	4h	2.1550	−0.005%	$7.7M	$49.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0022%	4h	2.1550	−0.005%	$30.8M	$52.0M	50x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1526	−0.116%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perpshort	+0.0030%	4h	2.1540	−0.051%	$181K	$4.3M	10x
Bitget TRUMPUSDT	+0.0046%	4h	2.1560	+0.042%	$15.4M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1570	+0.088%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1565	+0.064%	$405K	$718K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1544	−0.032%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	−0.005%	$401K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.135%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1570	+0.088%	$503K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1577	+0.120%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1561	+0.047%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0357%	1h	2.1584	+0.153%	$383K	$420K	10x	as long as short