Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0175%/8h= −19.2% APRpaid last 24h −0.018%

Price spread now: Deribit against edgeX+0.144%75s7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$590.589% of the position

Long on edgeX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now +0.144%, 7d avg +0.041%

Together, before fees−0.261%+ Points / potential airdropedgeX: Active · farm board−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.103% dearer against edgeX than usual: you sell high and buy low (spread +0.144% now, against its 7-day average of +0.041%): +$10 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 47 hours. At the pace of the last 7 days (−0.109% in total) that is about 6.6 days. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TRUMPUSDC	2.1347	−0.0089	get 0.0045% / 4h	22m 24s	$104K	$252K	20x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1378	−0.0264	pay 0.0033% / 1h	22m 24s	$403K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee DeribitbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$36.8
Price spread: +0.144% → +0.041%: $10.27
Slippage, 4 orders: −$42.91
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$85.45
Costs to cover: 0.589%
Break-even: never at this rate

Slippage from edgeX: live order book, 15 min ago; Deribit: live order book, 16 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 edgeX live order book, 15 min ago	9.34 bp	17.9 bp −$18	117.6 bp −$1,176	doesn't fit	doesn't fit
Sell Deribit live order book, 16 min ago	8.85 bp	12.4 bp −$12	21.6 bp −$216	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	−0.1797%	1h	2.1310	−0.175%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0336%	1h	2.1375	+0.129%	$75	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0264%	1h	2.1378	+0.144%	$403K	$81K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1372	+0.113%	$5	—	10x	as long as short
Lighter TRUMP	−0.0232%	1h	2.1389	+0.195%	$936K	$1.0M	10x	as long as short
Variational Omni TRUMP	−0.0200%	4h	2.1341	−0.030%	$659K	$423K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0193%	4h	2.1360	+0.059%	$26.6M	$183.2M	50x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1359	+0.056%	$76K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0181%	4h	2.1370	+0.106%	$60.4M	$250.4M	75x	as long as short
Bybit TRUMPUSDT	−0.0146%	4h	2.1370	+0.106%	$30.4M	$52.5M	50x	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	−0.0110%	4h	2.1370	+0.106%	$7.6M	$53.3M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0107%	8h	2.1383	+0.168%	$5K	$175	5x	as long as short
edgeX TRUMPUSDClong	−0.0089%	4h	2.1347	long leg	$104K	$252K	20x
Orderly PERP_TRUMP_USDC	−0.0063%	4h	2.1380	+0.153%	$5K	$276K	10x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1420	+0.340%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1384	+0.173%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0026%	4h	2.1390	+0.200%	$4.1M	$10.9M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1355	+0.036%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1330	−0.081%	$167K	$479K	50x	as long as short
BloFin TRUMP-USDT	+0.0056%	4h	2.1360	+0.059%	$4.2M	$684K	75x	as long as short
Bitget TRUMPUSDT	+0.0086%	4h	2.1370	+0.106%	$15.2M	$27.1M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1391	+0.204%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1392	+0.207%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1407	+0.279%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1360	+0.059%	$397K	$148K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1350	+0.011%	$173K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1410	+0.293%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1370	+0.106%	$480K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1382	+0.162%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0254%	1h	2.1432	+0.396%	$381K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0600%	1h	2.1411	+0.297%	$1.3M	$2.3M	50x	as long as short