Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h +0.029%

Price spread now: Bitget against Lighter+0.117%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

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

costs, in and out, $10k−$380.375% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 4 days (all we have)−0.182%−$18 · spread now +0.117%, 7d avg +0.003%

Together, before fees−0.172%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Bitget is 0.115% dearer against Lighter than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1345	0.0088	pay 0.0011% / 1h	33m 24s	$943K	$1.0M	10x
Short	Bitget TRUMPUSDT	2.1370	0.0100	get 0.0050% / 4h	1h 33m	$15.2M	$27.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.117%Rate

Funding earned: $2.52
Price spread: +0.117% → +0.003%: $11.45
Slippage, 4 orders: −$25.51
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$23.54
Costs to cover: 0.375%
Break-even: 72.4 days

Slippage from Lighter: live order book, 2 min ago; Bitget: live order book, 5 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, 2 min ago	1.64 bp	7.1 bp −$7	31.9 bp −$319	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.34 bp	8.3 bp −$8	17.1 bp −$171	47.0 bp −$4,695	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	−0.1927%	1h	2.1290	−0.258%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1362	+0.078%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0212%	4h	2.1372	+0.125%	$60.3M	$251.9M	75x	as long as short
Extended TRUMP-USD	−0.0208%	1h	2.1365	+0.093%	$74K	$667K	25x	as long as short
Variational Omni TRUMP	−0.0157%	4h	2.1351	+0.029%	$659K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0110%	4h	2.1406	+0.287%	$104K	$264K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0104%	4h	2.1370	+0.117%	$26.4M	$184.3M	50x	as long as short
Gate TRUMP_USDT	−0.0100%	4h	2.1370	+0.117%	$7.6M	$53.6M	75x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1416	+0.331%	$1.3M	$2.3M	50x	as long as short
Bybit TRUMPUSDT	−0.0083%	4h	2.1360	+0.070%	$30.3M	$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
Paradex TRUMP-USD-PERP	−0.0064%	8h	2.1347	+0.007%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0061%	4h	2.1360	+0.070%	$5K	$245K	10x	as long as short
SoDEX TRUMP-USD	−0.0034%	1h	2.1370	+0.117%	$80	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1336	−0.041%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1379	+0.159%	$403K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1325	−0.092%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1360	+0.070%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0028%	4h	2.1370	+0.117%	$4.1M	$685K	75x	as long as short
Lighter TRUMPlong	+0.0088%	1h	2.1345	long leg	$943K	$1.0M	10x
Hyperliquid TRUMP	+0.0100%	1h	2.1372	+0.126%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1382	+0.173%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1345	−0.001%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1370	+0.117%	$397K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1370	+0.117%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1370	+0.117%	$15.2M	$27.2M	75x
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1385	+0.188%	$177K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1390	+0.211%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1390	+0.211%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1373	+0.132%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1380	+0.164%	$203K	$421K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0312%	1h	2.1358	+0.061%	$378K	$415K	10x	as long as short