Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.018%

Price spread now: Aster against Lighter+0.090%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.090%, 7d avg +0.025%

Together, before fees−0.098%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.065% dearer against Lighter than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.2160	0.0096	pay 0.0012% / 1h	48m 49s	$994K	$728K	10x
Short	Aster TRUMPUSDT	2.2180	0.0100	get 0.0050% / 4h	48m 49s	$462K	$835K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.090%Rate

Funding earned: $0.84
Price spread: +0.090% → +0.025%: $6.53
Slippage, 4 orders: −$24.32
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$24.95
Costs to cover: 0.323%
Break-even: 214.9 days

Slippage from Lighter: live order book, 27 min ago; Aster: live order book, 29 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 Lighter live order book, 27 min ago	1.60 bp	5.4 bp −$5	18.6 bp −$186	doesn't fit	doesn't fit
Sell Aster live order book, 29 min ago	4.57 bp	9.9 bp −$10	21.8 bp −$218	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	−0.1537%	1h	2.2040	−0.542%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2162	+0.010%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2137	−0.104%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2160	0.000%	$416K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2174	+0.062%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2156	−0.019%	$121K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2160	0.000%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0096%	8h	2.2143	−0.075%	$5K	—	5x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.2160	long leg	$994K	$728K	10x
Aster TRUMPUSDTshort	+0.0100%	4h	2.2180	+0.090%	$462K	$835K	20x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2140	−0.090%	$190K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2190	+0.134%	$64.0M	$223.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2180	+0.090%	$31.1M	$43.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2180	+0.090%	$27.4M	$153.4M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2180	+0.090%	$7.5M	$47.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2180	+0.090%	$486K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2190	+0.135%	$4.8M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2190	+0.135%	$15.8M	$21.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2172	+0.055%	$624K	$348K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2190	+0.135%	$194K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2190	+0.135%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2160	0.000%	$75	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2170	+0.045%	$527K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2191	+0.140%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2160	0.000%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2164	+0.019%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0337%	1h	2.2192	+0.144%	$14.4M	$7.5M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2170	+0.045%	$4.2M	$634K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2180	+0.090%	$286K	$404K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0644%	1h	2.2193	+0.149%	$262K	$279K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0861%	1h	2.2187	+0.122%	$1.3M	$2.5M	50x	as long as short