Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.029%

Price spread now: HTX against Lighter+0.215%7-day average +0.100% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$430.432% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 4 days (all we have)−0.230%−$23 · spread now +0.215%, 7d avg +0.100%

Together, before fees−0.110%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.114% dearer against Lighter than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1444	0.0096	pay 0.0012% / 1h	15m 37s	$937K	$1.0M	10x
Short	HTX TRUMP-USDT	2.1490	0.0100	get 0.0050% / 4h	1h 15m	$483K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.215%Rate

Funding earned: $0.84
Price spread: +0.215% → +0.100%: $11.41
Slippage, 4 orders: −$31.19
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$30.94
Costs to cover: 0.432%
Break-even: 264.9 days

Slippage from Lighter: live order book, 10 min ago; HTX: live order book, 3 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, 10 min ago	2.10 bp	7.5 bp −$7	39.6 bp −$396	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	6.97 bp	16.5 bp −$16	23.4 bp −$234	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	−0.1927%	1h	2.1380	−0.298%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1477	+0.152%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0168%	1h	2.1439	−0.025%	$74K	$521K	25x	as long as short
Binance TRUMPUSDT	−0.0168%	4h	2.1452	+0.038%	$60.6M	$251.7M	75x	as long as short
Variational Omni TRUMP	−0.0117%	4h	2.1461	+0.080%	$663K	$423K	—	as long as short
Kraken Futures PF_TRUMPUSD	−0.0098%	1h	2.1501	+0.266%	$1.3M	$2.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0094%	4h	2.1450	+0.028%	$26.6M	$184.8M	50x	as long as short
edgeX TRUMPUSDC	−0.0086%	4h	2.1480	+0.166%	$105K	$265K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0056%	4h	2.1480	+0.168%	$5K	$250K	10x	as long as short
Gate TRUMP_USDT	−0.0052%	4h	2.1460	+0.075%	$7.7M	$53.8M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0034%	4h	2.1450	+0.028%	$30.5M	$52.5M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0030%	8h	2.1454	+0.047%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0029%	1h	2.1480	+0.168%	$405K	$81K	10x	as long as short
SoDEX TRUMP-USD	−0.0019%	1h	2.1472	+0.131%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1466	+0.101%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1495	+0.236%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1463	+0.088%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0070%	4h	2.1490	+0.215%	$4.1M	$703K	75x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.1444	long leg	$937K	$1.0M	10x
Hyperliquid TRUMP	+0.0100%	1h	2.1474	+0.140%	$13.6M	$8.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1462	+0.084%	$403K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1460	+0.075%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1440	−0.019%	$399K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1470	+0.121%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1450	+0.028%	$15.3M	$27.0M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1480	+0.167%	$176K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1500	+0.261%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1490	+0.215%	$483K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0098%	1h	2.1484	+0.185%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1490	+0.215%	$187K	$443K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0423%	1h	2.1501	+0.266%	$380K	$418K	10x	as long as short