Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.031%

Price spread now: HTX against Deribit+0.087%7-day average +0.062% · 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−$57as in the Price arb table

costs, in and out, $10k−$590.591% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.338%+$34 on $10k

Price spread, last 3 days (all we have)−0.092%−$9 · spread now +0.087%, 7d avg +0.062%

Together, before fees+0.246%+$25 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 HTX is 0.025% dearer against Deribit than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1871	0	get 0.0000% / 1h	48m 21s	$410K	$79K	10x
Short	HTX TRUMP-USDT	2.1890	0.0100	get 0.0050% / 4h	1h 48m	$516K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.087%Rate

Funding earned: $21
Price spread: +0.087% → +0.062%: $2.5
Slippage, 4 orders: −$40.07
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$35.57
Costs to cover: 0.591%
Break-even: 18.9 days

Slippage from Deribit: live order book, 35 min ago; HTX: live order book, just now.

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, 35 min ago	5.71 bp	10.1 bp −$10	19.6 bp −$196	doesn't fit	doesn't fit
Sell HTX live order book, just now	6.84 bp	19.0 bp −$19	30.0 bp −$300	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	−0.1472%	1h	2.1740	−0.599%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1924	+0.240%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1908	+0.168%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1871	long leg	$410K	$79K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1920	+0.224%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1857	−0.063%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1910	+0.178%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0087%	8h	2.1910	+0.177%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1912	+0.187%	$976K	$670K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1916	+0.204%	$457K	$831K	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	2.1922	+0.232%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1920	+0.223%	$62.4M	$217.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1920	+0.224%	$30.6M	$42.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1920	+0.224%	$26.8M	$149.2M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1910	+0.178%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1900	+0.133%	$481K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1920	+0.224%	$4.7M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1920	+0.224%	$15.5M	$20.6M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1863	−0.036%	$683K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1860	−0.050%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1890	+0.087%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1875	+0.018%	$70	$6K	5x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1890	+0.087%	$516K	$1.7M	50x
Hyperliquid TRUMP	+0.0102%	1h	2.1939	+0.311%	$14.1M	$7.4M	10x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1912	+0.186%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1898	+0.122%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1922	+0.231%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0244%	1h	2.1897	+0.119%	$259K	$268K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1870	−0.005%	$4.2M	$519K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	−0.050%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1903	+0.147%	$1.3M	$2.4M	50x	as long as short