Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.034%

Price spread now: OKX against Deribit+0.071%7-day average −0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.221%+$22 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now +0.071%, 7d avg −0.052%

Together, before fees+0.158%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and OKX is 0.122% dearer against Deribit than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.052%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1225	−0.0268	get 0.0033% / 1h	30m 54s	$400K	$72K	10x
Short	OKX TRUMP-USDT-SWAP	2.1240	−0.0056	pay 0.0028% / 4h	2h 30m	$26.5M	$179.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.071%Rate

Funding earned: $44.56
Price spread: +0.071% → −0.052%: $12.22
Slippage, 4 orders: −$21.83
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $17.95
Costs to cover: 0.388%
Break-even: 4.2 days

Slippage from Deribit: live order book, 18 min ago; OKX: live order book, 3 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, 18 min ago	6.27 bp	9.8 bp −$10	23.4 bp −$234	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.36 bp	11.9 bp −$12	14.9 bp −$149	44.7 bp −$4,473	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	2.1120	−0.495%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1219	−0.028%	$938K	$997K	10x	as long as short
SoDEX TRUMP-USD	−0.0467%	1h	2.1215	−0.047%	$83	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0320%	4h	2.1240	+0.071%	$30.0M	$51.6M	50x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0268%	1h	2.1225	long leg	$400K	$72K	10x
Extended TRUMP-USD	−0.0264%	1h	2.1237	+0.056%	$76K	$746K	25x	as long as short
Binance TRUMPUSDT	−0.0264%	4h	2.1250	+0.118%	$59.9M	$249.9M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1212	−0.062%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0227%	8h	2.1226	+0.004%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0182%	4h	2.1212	−0.063%	$655K	$426K	—	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	+0.024%	$7.6M	$53.1M	75x	as long as short
edgeX TRUMPUSDC	−0.0125%	4h	2.1187	−0.179%	$103K	$265K	20x	as long as short
OKX TRUMP-USDT-SWAPshort	−0.0056%	4h	2.1240	+0.071%	$26.5M	$179.6M	50x
GRVT TRUMP_USDT_Perp	−0.0048%	4h	2.1200	−0.118%	$175K	$4.7M	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0039%	4h	2.1210	−0.071%	$5K	$220K	10x	as long as short
BloFin TRUMP-USDT	−0.0024%	4h	2.1200	−0.118%	$4.1M	$680K	75x	as long as short
dYdX TRUMP-USD	−0.0017%	1h	2.1246	+0.098%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1235	+0.048%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1163	−0.294%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1248	+0.108%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1241	+0.075%	$399K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1226	+0.003%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1230	+0.024%	$395K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1230	+0.024%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1240	+0.071%	$15.2M	$26.6M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1250	+0.118%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1250	+0.118%	$479K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1231	+0.027%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0177%	1h	2.1265	+0.188%	$380K	$409K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0200%	1h	2.1238	+0.063%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1230	+0.024%	$254K	$318K	50x	as long as short