Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0132%/8h= +14.5% APRpaid last 24h +0.020%

Price spread now: KuCoin against Lighter+0.084%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$540.545% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)−0.263%−$26 · spread now +0.084%, 7d avg +0.018%

Together, before fees−0.299%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and KuCoin is 0.066% dearer against Lighter than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.018%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1522	−0.0032	get 0.0004% / 1h	14m 23s	$953K	$957K	10x
Short	KuCoin TRUMPUSDTM	2.1540	0.0100	get 0.0050% / 4h	14m 23s	$4.3M	$11.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.084%Rate

Funding earned: $27.72
Price spread: +0.084% → +0.018%: $6.61
Slippage, 4 orders: −$42.46
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$20.13
Costs to cover: 0.545%
Break-even: 12.1 days

Slippage from Lighter: live order book, 41 min ago; KuCoin: live order book, 4 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, 41 min ago	1.39 bp	8.5 bp −$8	36.1 bp −$361	doesn't fit	doesn't fit
Sell KuCoin live order book, 4 min ago	2.32 bp	19.0 bp −$19	72.0 bp −$720	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	−0.1690%	1h	2.1430	−0.427%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1512	−0.049%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0110%	1h	2.1525	+0.014%	$94	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0075%	1h	2.1530	+0.037%	$405K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0048%	4h	2.1520	−0.009%	$7.6M	$51.1M	75x	as long as short
Lighter TRUMPlong	−0.0032%	1h	2.1522	long leg	$953K	$957K	10x
Variational Omni TRUMP	−0.0026%	4h	2.1531	+0.043%	$665K	$488K	—	as long as short
Extended TRUMP-USD	−0.0016%	1h	2.1519	−0.014%	$75K	$716K	25x	as long as short
Binance TRUMPUSDT	−0.0013%	4h	2.1510	−0.056%	$60.4M	$241.7M	75x	as long as short
edgeX TRUMPUSDC	−0.0005%	4h	2.1543	+0.096%	$105K	$265K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX TRUMP-USD	−0.0002%	1h	2.1536	+0.066%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1524	+0.011%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0034%	8h	2.1518	−0.021%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1520	−0.009%	$4K	$203K	10x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1517	−0.024%	$19K	—	3x	as long as short
Bybit TRUMPUSDT	+0.0093%	4h	2.1520	−0.009%	$30.5M	$49.5M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1549	+0.125%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1540	+0.084%	$422K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1539	+0.078%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1520	−0.009%	$27.2M	$173.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	+0.037%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTMshort	+0.0100%	4h	2.1540	+0.084%	$4.3M	$11.1M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1520	−0.009%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1550	+0.130%	$295K	$318K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1561	+0.183%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1540	+0.084%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1540	+0.084%	$503K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1520	−0.008%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1556	+0.157%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0228%	4h	2.1520	−0.009%	$4.2M	$682K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1550	+0.130%	$279K	$277K	50x	as long as short