TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0187%/8h= −20.4% APRnext payment −$0.23 per $10,000 · paid last 24h +0.029%

Price spread now: Kraken Futures against Lighter+0.118%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.132%−$13 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.118%, 7d avg +0.078%

Together, before fees−0.206%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.040% dearer against Lighter than usual: you sell high and buy low (spread +0.118% now, against its 7-day average of +0.078%): +$4 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.132% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1384	0.0088	pay 0.0011% / 1h	28m 57s	$944K	$1.0M	10x
Short	Kraken Futures PF_TRUMPUSD	2.1409	−0.0099	pay 0.0012% / 1h	28m 57s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.118%Rate

Funding earned: −$39.2
Price spread: +0.118% → +0.078%: $3.98
Slippage, 4 orders: −$43.4
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$88.62
Costs to cover: 0.534%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Kraken Futures: 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, 7 min ago	1.64 bp	7.1 bp −$7	31.9 bp −$319	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	2.34 bp	18.1 bp −$18	30.7 bp −$307	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	2.1260	−0.580%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1372	−0.058%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0200%	1h	2.1380	−0.019%	$74K	$615K	25x	as long as short
Binance TRUMPUSDT	−0.0200%	4h	2.1390	+0.028%	$60.4M	$251.7M	75x	as long as short
Variational Omni TRUMP	−0.0145%	4h	2.1381	−0.013%	$660K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0104%	4h	2.1375	−0.041%	$104K	$265K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0101%	4h	2.1380	−0.019%	$26.4M	$184.2M	50x	as long as short
Kraken Futures PF_TRUMPUSDshort	−0.0099%	1h	2.1409	+0.118%	$1.3M	$2.3M	50x
Gate TRUMP_USDT	−0.0080%	4h	2.1400	+0.075%	$7.7M	$53.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0073%	4h	2.1380	−0.019%	$30.4M	$52.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	−0.0059%	4h	2.1400	+0.075%	$5K	$248K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0054%	8h	2.1418	+0.159%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0030%	1h	2.1395	+0.051%	$403K	$81K	10x	as long as short
SoDEX TRUMP-USD	−0.0003%	1h	2.1380	−0.019%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1386	+0.010%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1399	+0.068%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1378	−0.030%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0040%	4h	2.1370	−0.065%	$4.1M	$683K	75x	as long as short
Lighter TRUMPlong	+0.0088%	1h	2.1384	long leg	$944K	$1.0M	10x
Hyperliquid TRUMP	+0.0100%	1h	2.1390	+0.028%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1400	+0.075%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1428	+0.206%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1380	−0.019%	$397K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1400	+0.075%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1380	−0.019%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1390	+0.028%	$175K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1420	+0.168%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1410	+0.122%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1400	+0.076%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1360	−0.112%	$202K	$421K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0378%	1h	2.1408	+0.112%	$379K	$415K	10x	as long as short