Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0162%/8h= −17.7% APRpaid last 24h −0.028%

Price spread now: Lighter against KuCoin−0.078%7-day average −0.019% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$490.492% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.488%+$49 · spread now −0.078%, 7d avg −0.019%

Together, before fees+0.500%+ Points / potential airdropLighter: Season 3 · farm board+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.059% cheaper against KuCoin than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRUMPUSDTM	2.1700	−0.0038	get 0.0019% / 4h	3h 18m	$4.2M	$10.6M	50x
Short	Lighter TRUMP	2.1683	−0.0200	pay 0.0025% / 1h	18m 46s	$948K	$993K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.078%Rate

Funding earned: −$34.02
Price spread: −0.078% → −0.019%: −$5.89
Slippage, 4 orders: −$37.17
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$89.08
Costs to cover: 0.492%
Break-even: never at this rate

Slippage from KuCoin: live order book, 10 min ago; Lighter: live order book, 37 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 KuCoin live order book, 10 min ago	2.33 bp	18.2 bp −$18	296.4 bp −$2,964	doesn't fit	doesn't fit
Sell Lighter live order book, 37 min ago	1.86 bp	7.4 bp −$7	33.1 bp −$331	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	2.1550	−0.691%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0317%	4h	2.1682	−0.084%	$673K	$419K	—	as long as short
Bybit TRUMPUSDT	−0.0314%	4h	2.1680	−0.092%	$31.2M	$51.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0258%	1h	2.1650	−0.230%	$70	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0249%	4h	2.1670	−0.138%	$27.2M	$182.7M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1652	−0.221%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1670	−0.139%	$74K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0224%	4h	2.1695	−0.023%	$63.4M	$246.5M	75x	as long as short
Lighter TRUMPshort	−0.0200%	1h	2.1683	−0.078%	$948K	$993K	10x
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1640	−0.276%	$144K	$513K	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	−0.0127%	8h	2.1678	−0.102%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0119%	1h	2.1663	−0.171%	$392K	$76K	10x	as long as short
edgeX TRUMPUSDC	−0.0115%	4h	2.1681	−0.090%	$106K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0087%	4h	2.1650	−0.230%	$5K	$304K	10x	as long as short
Gate TRUMP_USDT	−0.0070%	4h	2.1680	−0.092%	$7.8M	$50.5M	75x	as long as short
KuCoin TRUMPUSDTMlong	−0.0038%	4h	2.1700	long leg	$4.2M	$10.6M	50x
dYdX TRUMP-USD	−0.0014%	1h	2.1707	+0.031%	$26K	$2K	5x	as long as short
Bitget TRUMPUSDT	+0.0008%	4h	2.1700	0.000%	$15.4M	$26.3M	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1665	−0.159%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0015%	4h	2.1650	−0.230%	$4.3M	$692K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1642	−0.266%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0072%	4h	2.1680	−0.092%	$403K	$150K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1715	+0.069%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1699	−0.005%	$413K	$679K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1697	−0.012%	$187K	$54K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1680	−0.092%	$175K	$4.2M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1680	−0.092%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1690	−0.046%	$501K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0120%	1h	2.1685	−0.071%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0170% / S −0.0143%	1h	2.1669	−0.143%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0377%	1h	2.1686	−0.065%	$384K	$419K	10x	as long as short