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: Deribit against GRVT+0.051%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

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

Long on GRVT Short on Deribit

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	GRVT TRUMP_USDT_Perp	2.1540	0.0030	pay 0.0015% / 4h	3h 45m	$181K	$4.3M	10x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1551	−0.0492	pay 0.0061% / 1h	45m 12s	$406K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GRVT. 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 GRVTbpFee DeribitbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$109.59
Price spread: +0.051% → +0.037%: $1.4
Slippage, 4 orders: −$31.61
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$155.8
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Deribit: live order book, 53 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 GRVT live order book, 4 min ago	4.64 bp	9.1 bp −$9	20.0 bp −$200	doesn't fit	doesn't fit
Sell Deribit live order book, 53 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	−0.1829%	1h	2.1450	−0.418%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0589%	1h	2.1545	+0.023%	$72	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0492%	1h	2.1551	+0.051%	$406K	$65K	10x
Variational Omni TRUMP	−0.0275%	4h	2.1541	+0.007%	$664K	$415K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	+0.007%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0227%	4h	2.1540	0.000%	$61.0M	$247.4M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1539	−0.003%	$74K	$494K	25x	as long as short
OKX TRUMP-USDT-SWAP	−0.0223%	4h	2.1540	0.000%	$27.0M	$183.5M	50x	as long as short
Lighter TRUMP	−0.0176%	1h	2.1546	+0.028%	$942K	$988K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	−0.139%	$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	−0.017%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0108%	4h	2.1541	+0.006%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0092%	4h	2.1540	0.000%	$5K	$291K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0006%	4h	2.1550	+0.046%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1578	+0.176%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1566	+0.121%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0013%	4h	2.1540	0.000%	$4.2M	$689K	75x	as long as short
Gate TRUMP_USDT	+0.0018%	4h	2.1550	+0.046%	$7.7M	$49.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0022%	4h	2.1550	+0.046%	$30.8M	$52.0M	50x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1526	−0.065%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perplong	+0.0030%	4h	2.1540	long leg	$181K	$4.3M	10x
Bitget TRUMPUSDT	+0.0046%	4h	2.1560	+0.093%	$15.4M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1568	+0.130%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1571	+0.145%	$405K	$718K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1562	+0.102%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	+0.046%	$401K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.186%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1570	+0.139%	$503K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1577	+0.171%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1561	+0.098%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0360%	1h	2.1582	+0.195%	$383K	$420K	10x	as long as short