Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0498%/8h= +54.5% APRpaid last 24h +0.002%

Price spread now: edgeX against Lighter−0.304%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$460.459% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.109%−$11 on $10k

Price spread, last 4 days (all we have)+0.834%+$83 · spread now −0.304%, 7d avg −0.001%

Together, before fees+0.725%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$73 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.303% cheaper against Lighter than usual: you would sell low and buy high (spread −0.304% now, against its 7-day average of −0.001%). If the spread goes back, that is −$30 on $10k: about 2.0 days of funding at the current rate (+$15 a day). Mind the row above: over the last 7 days funding on this pair cost −0.109%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.109% in total (about -5.7% a year). A funding rate is set anew for every payment. 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	2.1851	−0.0448	get 0.0056% / 1h	55m 03s	$973K	$791K	10x
Short	edgeX TRUMPUSDC	2.1785	0.0050	get 0.0025% / 4h	1h 55m	$106K	$262K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.304%Rate

Funding earned: $104.58
Price spread: −0.304% → −0.001%: −$30.27
Slippage, 4 orders: −$36.91
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $28.4
Costs to cover: 0.459%
Break-even: 5.1 days

Slippage from Lighter: live order book, 5 min ago; edgeX: live order book, 7 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, 5 min ago	1.60 bp	8.6 bp −$9	28.2 bp −$282	doesn't fit	doesn't fit
Sell edgeX live order book, 7 min ago	6.83 bp	14.0 bp −$14	37.9 bp −$379	doesn't fit	doesn't fit

TRUMP on 30 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	2.1780	−0.325%	$13K	$157K	12x	as long as short
Lighter TRUMPlong	−0.0448%	1h	2.1851	long leg	$973K	$791K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1822	−0.135%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0086%	4h	2.1860	+0.041%	$7.7M	$48.9M	75x	as long as short
SoDEX TRUMP-USD	−0.0072%	1h	2.1835	−0.073%	$83	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1886	+0.162%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1839	−0.055%	$411K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1845	−0.027%	$42K	—	150x	as long as short
edgeX TRUMPUSDCshort	+0.0050%	4h	2.1785	−0.304%	$106K	$262K	20x
Paradex TRUMP-USD-PERP	+0.0059%	8h	2.1856	+0.023%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0084%	4h	2.1820	−0.142%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1881	+0.137%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1852	+0.002%	$432K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1879	+0.127%	$188K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1860	+0.042%	$63.5M	$234.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1860	+0.041%	$31.4M	$47.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1860	+0.041%	$28.4M	$168.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1840	−0.050%	$434K	$141K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1870	+0.087%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1860	+0.041%	$15.7M	$24.5M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1873	+0.101%	$257K	$314K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1971	+0.551%	$688K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1859	+0.038%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1860	+0.041%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.087%	$534K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1835	−0.073%	$116K	$705K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1825	−0.118%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1846	−0.024%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0287%	1h	2.1869	+0.084%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.2000	+0.682%	$285K	$303K	50x	as long as short