Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0332%/8h= −36.4% APRpaid last 24h −0.030%

Price spread now: Lighter against MEXC−0.079%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

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

costs, in and out, $10k−$270.269% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.152%+$15 on $10k

Price spread, last 4 days (all we have)+0.677%+$68 · spread now −0.079%, 7d avg +0.047%

Together, before fees+0.829%+ Points / potential airdropLighter: Season 3 · farm board+$83 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Lighter is 0.126% cheaper against MEXC than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.047%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.152%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.152% in total (about 7.9% a year). A funding rate is set anew for every payment. 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	MEXC TRUMP_USDC	2.1490	0.0100	pay 0.0050% / 4h	3h 42m	$400K	$148K	125x
Short	Lighter TRUMP	2.1473	−0.0232	pay 0.0029% / 1h	42m 10s	$939K	$988K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$69.72
Price spread: −0.079% → +0.047%: −$12.58
Slippage, 4 orders: −$26.89
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$109.18
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from MEXC: live order book, 47 min ago; Lighter: live order book, 13 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 MEXC live order book, 47 min ago	2.34 bp	6.5 bp −$7	28.4 bp −$284	137.5 bp −$13.8K	doesn't fit
Sell Lighter live order book, 13 min ago	1.86 bp	7.4 bp −$7	33.1 bp −$331	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	−0.1829%	1h	2.1430	−0.279%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0637%	1h	2.1485	−0.023%	$71	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0447%	1h	2.1497	+0.033%	$389K	$81K	10x	as long as short
Variational Omni TRUMP	−0.0275%	4h	2.1541	+0.239%	$664K	$415K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1492	+0.008%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0240%	1h	2.1480	−0.049%	$74K	$494K	25x	as long as short
Binance TRUMPUSDT	−0.0236%	4h	2.1468	−0.102%	$60.9M	$247.0M	75x	as long as short
Lighter TRUMPshort	−0.0232%	1h	2.1473	−0.079%	$939K	$988K	10x
OKX TRUMP-USDT-SWAP	−0.0229%	4h	2.1470	−0.093%	$26.9M	$182.8M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0148%	8h	2.1482	−0.035%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1480	−0.047%	$168K	$472K	50x	as long as short
Gate TRUMP_USDT	−0.0126%	4h	2.1500	+0.047%	$7.7M	$49.6M	75x	as long as short
edgeX TRUMPUSDC	−0.0111%	4h	2.1536	+0.216%	$105K	$254K	20x	as long as short
Bybit TRUMPUSDT	−0.0104%	4h	2.1460	−0.140%	$30.6M	$51.8M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0094%	4h	2.1500	+0.047%	$5K	$290K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0016%	4h	2.1470	−0.093%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1516	+0.121%	$27K	$501	5x	as long as short
GRVT TRUMP_USDT_Perp	0.0000%	4h	2.1549	+0.276%	$181K	$4.3M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1505	+0.070%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0010%	4h	2.1480	−0.047%	$4.2M	$687K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1480	−0.047%	$19K	—	3x	as long as short
Bitget TRUMPUSDT	+0.0040%	4h	2.1490	0.000%	$15.3M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1520	+0.140%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1509	+0.087%	$403K	$719K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1494	+0.020%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDClong	+0.0100%	4h	2.1490	long leg	$400K	$148K	125x
SunX TRUMP-USDT	+0.0100%	4h	2.1510	+0.093%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	+0.047%	$501K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1516	+0.121%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1511	+0.096%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0340%	1h	2.1504	+0.065%	$381K	$420K	10x	as long as short