Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0244%/8h= +26.7% APRpaid last 24h +0.084%

Price spread now: BloFin against Lighter+0.082%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.300%+$30 on $10k

Price spread, last 3 days (all we have)−0.177%−$18 · spread now +0.082%, 7d avg +0.011%

Together, before fees+0.123%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and BloFin is 0.071% dearer against Lighter than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1892	0.0096	pay 0.0012% / 1h	7m 19s	$985K	$723K	10x
Short	BloFin TRUMP-USDT	2.1910	0.0340	get 0.0170% / 4h	1h 07m	$4.2M	$626K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.082%Rate

Funding earned: $51.24
Price spread: +0.082% → +0.011%: $7.11
Slippage, 4 orders: −$18.48
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: $27.87
Costs to cover: 0.305%
Break-even: 3.2 days

Slippage from Lighter: live order book, 8 min ago; BloFin: live order book, 6 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, 8 min ago	1.60 bp	5.4 bp −$5	18.6 bp −$186	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	2.29 bp	9.7 bp −$10	18.5 bp −$185	43.2 bp −$4,320	120.4 bp −$60.2K

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	−0.1472%	1h	2.1800	−0.420%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1887	−0.023%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1867	−0.114%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1895	+0.014%	$411K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1893	+0.005%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1888	−0.018%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1880	−0.055%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1861	−0.142%	$5K	—	5x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.1892	long leg	$985K	$723K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.1910	+0.082%	$14.1M	$7.5M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1896	+0.017%	$455K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1869	−0.103%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1891	−0.003%	$62.4M	$220.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1900	+0.037%	$30.6M	$43.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1900	+0.037%	$26.9M	$150.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1880	−0.055%	$7.4M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1890	−0.009%	$481K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1900	+0.037%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1890	−0.009%	$15.5M	$21.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1882	−0.045%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1911	+0.088%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	+0.082%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	+0.014%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1900	+0.037%	$528K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1886	−0.030%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.055%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1895	+0.012%	$10K	—	100x	as long as short
BloFin TRUMP-USDTshort	+0.0340%	4h	2.1910	+0.082%	$4.2M	$626K	75x
Backpack TRUMP_USDC_PERP	+0.0341%	1h	2.1870	−0.100%	$258K	$274K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1890	−0.009%	$282K	$401K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0521%	1h	2.1925	+0.150%	$1.3M	$2.5M	50x	as long as short