Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0216%/8h= +23.7% APRpaid last 24h +0.014%

Price spread now: Gate against Lighter+0.042%7-day average +0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$430.428% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.032%+$3 on $10k

Price spread, last 4 days (all we have)−0.111%−$11 · spread now +0.042%, 7d avg +0.006%

Together, before fees−0.079%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Gate is 0.036% dearer against Lighter than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.006%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.032% in total (about 1.7% 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	2.1511	−0.0416	get 0.0052% / 1h	53m 39s	$951K	$994K	10x
Short	Gate TRUMP_USDT	2.1520	−0.0200	pay 0.0100% / 4h	2h 53m	$7.7M	$52.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.042%Rate

Funding earned: $45.36
Price spread: +0.042% → +0.006%: $3.6
Slippage, 4 orders: −$27.77
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $6.18
Costs to cover: 0.428%
Break-even: 6.0 days

Slippage from Lighter: live order book, 57 min ago; Gate: 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, 57 min ago	0.92 bp	6.2 bp −$6	33.2 bp −$332	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	2.33 bp	15.7 bp −$16	31.7 bp −$317	73.8 bp −$7,380	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	−0.1827%	1h	2.1390	−0.563%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0508%	1h	2.1505	−0.028%	$87	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0493%	1h	2.1510	−0.005%	$405K	$72K	10x	as long as short
Lighter TRUMPlong	−0.0416%	1h	2.1511	long leg	$951K	$994K	10x
Bybit TRUMPUSDT	−0.0274%	4h	2.1500	−0.051%	$30.5M	$51.0M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1497	−0.067%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0234%	8h	2.1496	−0.070%	$5K	$175	5x	as long as short
Gate TRUMP_USDTshort	−0.0200%	4h	2.1520	+0.042%	$7.7M	$52.2M	75x
Binance TRUMPUSDT	−0.0195%	4h	2.1514	+0.014%	$60.7M	$247.2M	75x	as long as short
Extended TRUMP-USD	−0.0192%	1h	2.1494	−0.078%	$74K	$720K	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0089%	4h	2.1521	+0.045%	$105K	$263K	20x	as long as short
Variational Omni TRUMP	−0.0086%	4h	2.1551	+0.187%	$665K	$437K	—	as long as short
dYdX TRUMP-USD	−0.0054%	1h	2.1526	+0.071%	$27K	$508	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0015%	4h	2.1510	−0.005%	$5K	$208K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0012%	4h	2.1550	+0.182%	$180K	$4.7M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1524	+0.062%	$41K	—	150x	as long as short
OKX TRUMP-USDT-SWAP	+0.0027%	4h	2.1490	−0.098%	$27.3M	$179.0M	50x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1490	−0.098%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0050%	4h	2.1470	−0.191%	$4.2M	$647K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1534	+0.107%	$13.6M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1541	+0.138%	$405K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1523	+0.056%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1510	−0.005%	$400K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1520	+0.042%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1510	−0.005%	$15.5M	$26.3M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1530	+0.088%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1530	+0.088%	$490K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1520	+0.040%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1534	+0.105%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0364%	1h	2.1539	+0.130%	$381K	$404K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1570	+0.274%	$291K	$305K	50x	as long as short