TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1573%/8h= −172.2% APRnext payment −$1.97 per $10,000 · paid last 24h −0.497%

Price spread now: Injective against Lighter−0.351%96s7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1051.050% of the position

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.541%−$54 on $10k

Price spread, last 4 days (all we have)+0.536%+$54 · spread now −0.351%, 7d avg −0.065%

Together, before fees−0.005%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$47 a day on $10k at the current rate, and Injective is 0.286% cheaper against Lighter than usual: you would sell low and buy high (−$29 if the spread goes back to its 7-day average of −0.065%). Swap the legs. The two prices were read 96 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.541% in total (about -28.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.97 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	2.1385	−0.0224	get 0.0028% / 1h	21m 38s	$935K	$1.0M	10x
Short	Injective TRUMP/USDC PERP	2.1310	−0.1797	pay 0.0225% / 1h	21m 38s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.351%Rate

Funding earned: −$330.26
Price spread: −0.351% → −0.065%: −$28.58
Slippage, 4 orders: −$105.02
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$463.87
Costs to cover: 1.050%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; Injective: live order book, 2 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, 9 min ago	1.64 bp	6.9 bp −$7	40.3 bp −$403	doesn't fit	doesn't fit
Sell Injective live order book, 2 min ago	35.19 bp	35.2 bp −$35	doesn't fit	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 PERPshort	−0.1797%	1h	2.1310	−0.351%	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0336%	1h	2.1375	−0.047%	$75	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0264%	1h	2.1378	−0.033%	$403K	$81K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1372	−0.063%	$5	—	10x	as long as short
Lighter TRUMPlong	−0.0224%	1h	2.1385	long leg	$935K	$1.0M	10x
Variational Omni TRUMP	−0.0200%	4h	2.1341	−0.206%	$659K	$423K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0193%	4h	2.1390	+0.023%	$26.6M	$183.5M	50x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1379	−0.027%	$76K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0181%	4h	2.1390	+0.023%	$60.5M	$250.4M	75x	as long as short
Bybit TRUMPUSDT	−0.0146%	4h	2.1390	+0.023%	$30.4M	$52.6M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0108%	4h	2.1390	+0.023%	$7.6M	$53.3M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0107%	8h	2.1384	−0.007%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0089%	4h	2.1347	−0.176%	$104K	$252K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0063%	4h	2.1380	−0.023%	$5K	$276K	10x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1397	+0.056%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1384	−0.003%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0026%	4h	2.1390	+0.023%	$4.1M	$10.9M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1355	−0.140%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1330	−0.257%	$167K	$479K	50x	as long as short
BloFin TRUMP-USDT	+0.0056%	4h	2.1360	−0.117%	$4.2M	$684K	75x	as long as short
Bitget TRUMPUSDT	+0.0084%	4h	2.1390	+0.023%	$15.2M	$27.1M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1403	+0.084%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1410	+0.115%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1401	+0.075%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1380	−0.023%	$397K	$148K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1350	−0.165%	$173K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1410	+0.117%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1390	+0.023%	$481K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1382	−0.014%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0261%	1h	2.1407	+0.103%	$381K	$419K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0600%	1h	2.1411	+0.121%	$1.3M	$2.3M	50x	as long as short