Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0175%/8h= +19.1% APRpaid last 24h +0.032%

Price spread now: SunX against Deribit+0.107%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$165as in the Funding arb table

Net, price: spread back to 7d avg − costs−$195as in the Price arb table

costs, in and out, $10k−$1991.985% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.333%+$33 on $10k

Price spread, last 4 days (all we have)−0.017%−$2 · spread now +0.107%, 7d avg +0.067%

Together, before fees+0.316%+$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and SunX is 0.040% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1547	−0.0075	get 0.0009% / 1h	18m 56s	$406K	$72K	10x
Short	SunX TRUMP-USDT	2.1570	0.0100	get 0.0050% / 4h	18m 56s	$2K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.107%Rate

Funding earned: $36.7
Price spread: +0.107% → +0.067%: $3.97
Slippage, 4 orders: −$183.54
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$157.86
Costs to cover: 1.985%
Break-even: 37.1 days

Slippage from Deribit: live order book, 40 min ago; SunX: live order book, 6 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, 40 min ago	7.68 bp	20.9 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	32.39 bp	93.7 bp −$94	doesn't fit	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	−0.1690%	1h	2.1430	−0.543%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1541	−0.027%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0124%	1h	2.1545	−0.009%	$95	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0075%	1h	2.1547	long leg	$406K	$72K	10x
Lighter TRUMP	−0.0064%	1h	2.1536	−0.051%	$953K	$957K	10x	as long as short
Gate TRUMP_USDT	−0.0058%	4h	2.1540	−0.032%	$7.6M	$51.0M	75x	as long as short
Binance TRUMPUSDT	−0.0009%	4h	2.1528	−0.089%	$60.4M	$241.6M	75x	as long as short
Variational Omni TRUMP	−0.0009%	4h	2.1551	+0.019%	$665K	$488K	—	as long as short
Extended TRUMP-USD	−0.0008%	1h	2.1519	−0.129%	$75K	$716K	25x	as long as short
dYdX TRUMP-USD	−0.0003%	1h	2.1576	+0.134%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0001%	4h	2.1570	+0.105%	$105K	$264K	20x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1555	+0.035%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0029%	8h	2.1543	−0.019%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1540	−0.032%	$4K	$206K	10x	as long as short
Bybit TRUMPUSDT	+0.0078%	4h	2.1530	−0.079%	$30.5M	$49.6M	50x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1535	−0.056%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1569	+0.102%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1559	+0.058%	$422K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1559	+0.057%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1520	−0.125%	$27.2M	$173.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	−0.079%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1550	+0.014%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1530	−0.079%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1562	+0.070%	$252K	$317K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1580	+0.153%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.1570	+0.107%	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1570	+0.107%	$503K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1554	+0.034%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1570	+0.106%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0231%	4h	2.1530	−0.079%	$4.1M	$682K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1570	+0.107%	$279K	$281K	50x	as long as short