Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0002%/8h= +0.3% APRpaid last 24h +0.029%

Price spread now: OKX against Lighter−0.107%7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

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

costs, in and out, $10k−$290.294% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.012%+$1 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.107%, 7d avg −0.014%

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: OKX is 0.093% cheaper against Lighter than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.014%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1493	−0.0200	get 0.0025% / 1h	12m 19s	$939K	$1.0M	10x
Short	OKX TRUMP-USDT-SWAP	2.1470	−0.0198	pay 0.0099% / 4h	12m 19s	$26.8M	$184.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.107%Rate

Funding earned: $0.52
Price spread: −0.107% → −0.014%: −$9.32
Slippage, 4 orders: −$19.43
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$38.23
Costs to cover: 0.294%
Break-even: 518.2 days

Slippage from Lighter: live order book, 8 min ago; OKX: 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, 8 min ago	1.63 bp	6.5 bp −$7	32.4 bp −$324	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.33 bp	7.3 bp −$7	9.3 bp −$93	30.8 bp −$3,076	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	−0.1797%	1h	2.1350	−0.665%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0346%	1h	2.1475	−0.084%	$76	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0262%	1h	2.1486	−0.033%	$405K	$81K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1487	−0.027%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0226%	4h	2.1452	−0.192%	$662K	$423K	—	as long as short
Lighter TRUMPlong	−0.0200%	1h	2.1493	long leg	$939K	$1.0M	10x
OKX TRUMP-USDT-SWAPshort	−0.0198%	4h	2.1470	−0.107%	$26.8M	$184.3M	50x
Bybit TRUMPUSDT	−0.0190%	4h	2.1470	−0.107%	$30.5M	$52.5M	50x	as long as short
Binance TRUMPUSDT	−0.0187%	4h	2.1474	−0.089%	$60.7M	$250.8M	75x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1470	−0.108%	$74K	$496K	25x	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	−0.0106%	4h	2.1490	−0.014%	$7.7M	$53.4M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0105%	8h	2.1489	−0.021%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0092%	4h	2.1442	−0.240%	$105K	$254K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0069%	4h	2.1500	+0.033%	$5K	$279K	10x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1528	+0.163%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1501	+0.036%	$41K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0020%	4h	2.1510	+0.079%	$4.1M	$10.8M	50x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1470	−0.107%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0055%	4h	2.1510	+0.079%	$4.1M	$689K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1330	−0.758%	$167K	$479K	50x	as long as short
Bitget TRUMPUSDT	+0.0082%	4h	2.1500	+0.033%	$15.3M	$27.0M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1513	+0.093%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1497	+0.020%	$403K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1510	+0.079%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1490	−0.014%	$399K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1460	−0.152%	$173K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1510	+0.079%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1520	+0.126%	$484K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1508	+0.068%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0295%	1h	2.1539	+0.214%	$384K	$419K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0598%	1h	2.1501	+0.037%	$1.3M	$2.3M	50x	as long as short