Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0360%/8h= −39.4% APRpaid last 24h −0.039%

Price spread now: Deribit against HTX+0.023%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.328%−$33 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.023%, 7d avg −0.064%

Together, before fees−0.280%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.087% dearer against HTX than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.064%): +$9 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 19 hours. At the pace of the last 7 days (−0.328% in total) that is about 45 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TRUMP-USDT	2.1560	0.0100	pay 0.0050% / 4h	3h 48m	$502K	$2.5M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1565	−0.0260	pay 0.0032% / 1h	48m 51s	$406K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$75.56
Price spread: +0.023% → −0.064%: $8.7
Slippage, 4 orders: −$47.41
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$133.27
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from HTX: live order book, 5 min ago; Deribit: live order book, 50 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 HTX live order book, 5 min ago	4.65 bp	23.1 bp −$23	99.3 bp −$993	doesn't fit	doesn't fit
Sell Deribit live order book, 50 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	2.1440	−0.557%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0515%	1h	2.1545	−0.070%	$72	$6K	5x	as long as short
Variational Omni TRUMP	−0.0310%	4h	2.1561	+0.007%	$663K	$421K	—	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0260%	1h	2.1565	+0.023%	$406K	$65K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	−0.085%	$5	—	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0224%	4h	2.1540	−0.093%	$27.0M	$183.6M	50x	as long as short
Binance TRUMPUSDT	−0.0219%	4h	2.1540	−0.093%	$61.0M	$247.6M	75x	as long as short
Extended TRUMP-USD	−0.0216%	1h	2.1530	−0.141%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0168%	1h	2.1544	−0.074%	$942K	$988K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	−0.232%	$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	−0.0133%	8h	2.1547	−0.060%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0106%	4h	2.1482	−0.361%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0090%	4h	2.1550	−0.046%	$5K	$292K	10x	as long as short
Bybit TRUMPUSDT	−0.0057%	4h	2.1540	−0.093%	$30.8M	$52.0M	50x	as long as short
KuCoin TRUMPUSDTM	−0.0014%	4h	2.1550	−0.046%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1576	+0.074%	$27K	$501	5x	as long as short
Gate TRUMP_USDT	−0.0004%	4h	2.1550	−0.046%	$7.7M	$49.5M	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1570	+0.046%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0021%	4h	2.1530	−0.139%	$4.2M	$689K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1537	−0.105%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0028%	4h	2.1510	−0.232%	$181K	$4.3M	10x	as long as short
Bitget TRUMPUSDT	+0.0048%	4h	2.1560	0.000%	$15.4M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1566	+0.028%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1550	−0.046%	$404K	$718K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1558	−0.009%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1540	−0.093%	$400K	$147K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1590	+0.139%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.1560	long leg	$502K	$2.5M	50x
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1577	+0.077%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1570	+0.046%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0329%	1h	2.1585	+0.116%	$383K	$420K	10x	as long as short