TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0528%/8h= +57.8% APRnext payment +$0.66 per $10,000 · paid last 24h +0.105%

Price spread now: Coinbase International against Lighter+0.424%7-day average +0.093% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$640.637% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 4 days (all we have)−0.798%−$80 · spread now +0.424%, 7d avg +0.093%

Together, before fees−0.646%+ Points / potential airdropLighter: Season 3 · farm board−$65 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.331% dearer against Lighter than usual: you sell high and buy low: +$33 more if the spread goes back to its 7-day average of +0.093%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.153% in total (about 8.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.66 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1688	−0.0024	get 0.0003% / 1h	9m 33s	$958K	$906K	10x
Short	Coinbase International TRUMP-PERP-INTX	2.1780	0.0504	get 0.0063% / 1h	9m 33s	$282K	$298K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.424%Rate

Funding earned: $110.88
Price spread: +0.424% → +0.093%: $33.08
Slippage, 4 orders: −$53.71
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $80.25
Costs to cover: 0.637%
Break-even: 1.9 days

Slippage from Lighter: live order book, 51 min ago; Coinbase International: live order book, 53 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, 51 min ago	1.60 bp	8.6 bp −$9	28.2 bp −$282	doesn't fit	doesn't fit
Sell Coinbase International live order book, 53 min ago	15.93 bp	25.4 bp −$25	29.9 bp −$299	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	−0.1659%	1h	2.1670	−0.083%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	+0.013%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0072%	1h	2.1743	+0.254%	$409K	$72K	10x	as long as short
SoDEX TRUMP-USD	−0.0045%	1h	2.1735	+0.217%	$82	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0040%	4h	2.1690	+0.009%	$7.6M	$50.2M	75x	as long as short
Lighter TRUMPlong	−0.0024%	1h	2.1688	long leg	$958K	$906K	10x
dYdX TRUMP-USD	0.0000%	1h	2.1704	+0.075%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1704	+0.075%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0027%	8h	2.1678	−0.044%	$5K	$175	5x	as long as short
Bybit TRUMPUSDT	+0.0039%	4h	2.1680	−0.037%	$30.9M	$48.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0050%	4h	2.1739	+0.234%	$106K	$263K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0070%	4h	2.1730	+0.194%	$4K	$236K	10x	as long as short
Variational Omni TRUMP	+0.0080%	4h	2.1731	+0.197%	$685K	$456K	—	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1711	+0.106%	$14.3M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1724	+0.164%	$429K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1694	+0.028%	$187K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1687	−0.005%	$62.8M	$237.8M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1670	−0.083%	$27.6M	$170.6M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1680	−0.037%	$416K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1690	+0.009%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1690	+0.009%	$15.6M	$25.4M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1747	+0.272%	$254K	$319K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1790	+0.470%	$178K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1790	+0.470%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1800	+0.516%	$535K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1679	−0.040%	$115K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1744	+0.257%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1745	+0.264%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0288%	1h	2.1763	+0.347%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1770	+0.378%	$4.3M	$657K	75x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0504%	1h	2.1780	+0.424%	$282K	$298K	50x