TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0182%/8h= −19.9% APRnext payment −$0.23 per $10,000 · paid last 24h −0.012%

Price spread now: Deribit against Lighter−0.055%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 3 days (all we have)−0.056%−$6 · spread now −0.055%, 7d avg +0.034%

Together, before fees−0.283%+ Points / potential airdropLighter: Season 3 · farm board−$28 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 Deribit is 0.089% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1747	0.0064	pay 0.0008% / 1h	5m 21s	$967K	$664K	10x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1735	−0.0118	pay 0.0015% / 1h	5m 21s	$408K	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$38.21
Price spread: −0.055% → +0.034%: −$8.91
Slippage, 4 orders: −$30.44
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$84.56
Costs to cover: 0.374%
Break-even: never at this rate

Slippage from Lighter: live order book, 15 min ago; Deribit: live order book, 18 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, 15 min ago	1.14 bp	5.7 bp −$6	26.1 bp −$261	doesn't fit	doesn't fit
Sell Deribit live order book, 18 min ago	5.71 bp	15.6 bp −$16	25.6 bp −$256	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	−0.1787%	1h	2.1730	−0.078%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1744	−0.013%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0131%	1h	2.1795	+0.220%	$1.3M	$2.3M	50x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0118%	1h	2.1735	−0.055%	$408K	$79K	10x
dYdX TRUMP-USD	−0.0004%	1h	2.1768	+0.096%	$27K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1748	+0.003%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1842	+0.438%	$119K	$247K	20x	as long as short
Lighter TRUMPlong	+0.0064%	1h	2.1747	long leg	$967K	$664K	10x
Paradex TRUMP-USD-PERP	+0.0083%	8h	2.1754	+0.032%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1730	−0.078%	$3K	$249K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRUMP	+0.0100%	1h	2.1766	+0.087%	$14.0M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1760	+0.060%	$456K	$832K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1761	+0.063%	$187K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1743	−0.018%	$61.9M	$215.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1740	−0.032%	$30.3M	$42.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1740	−0.032%	$26.6M	$147.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1740	−0.032%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1730	−0.078%	$477K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1750	+0.014%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1740	−0.032%	$15.4M	$20.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1764	+0.078%	$679K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1821	+0.341%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1780	+0.152%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1765	+0.083%	$69	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1790	+0.198%	$513K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1757	+0.048%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1723	−0.112%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0152%	1h	2.1786	+0.179%	$261K	$266K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1741	−0.028%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1860	+0.520%	$281K	$399K	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1760	+0.060%	$4.2M	$501K	75x	as long as short