Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.031%

Price spread now: Deribit against OKX−0.046%7-day average +0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

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

costs, in and out, $10k−$390.389% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.229%−$23 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.046%, 7d avg +0.054%

Together, before fees−0.190%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.100% cheaper against OKX than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRUMP-USDT-SWAP	2.1840	0.0100	pay 0.0050% / 4h	23m 02s	$27.2M	$152.7M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1830	0	get 0.0000% / 1h	23m 02s	$409K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$21
Price spread: −0.046% → +0.054%: −$9.98
Slippage, 4 orders: −$21.89
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$69.87
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Deribit: live order book, 56 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 OKX live order book, 1 min ago	2.30 bp	7.3 bp −$7	11.8 bp −$118	46.5 bp −$4,650	doesn't fit
Sell Deribit live order book, 56 min ago	5.71 bp	12.4 bp −$12	22.2 bp −$222	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	−0.1537%	1h	2.1720	−0.549%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1807	−0.152%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1817	−0.107%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1830	−0.046%	$409K	$78K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1810	−0.137%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1828	−0.054%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0096%	4h	2.1820	−0.092%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1844	+0.018%	$979K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0097%	8h	2.1804	−0.166%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1850	+0.047%	$455K	$832K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1804	−0.165%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1850	+0.046%	$62.7M	$225.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1850	+0.046%	$30.7M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.1840	long leg	$27.2M	$152.7M	50x
Gate TRUMP_USDT	+0.0100%	4h	2.1840	0.000%	$7.4M	$48.6M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1830	−0.046%	$478K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1840	0.000%	$4.4M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1850	+0.046%	$15.4M	$21.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	+0.103%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1913	+0.335%	$184K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1840	0.000%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1835	−0.023%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	+0.183%	$553K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1841	+0.005%	$75K	$469K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1825	−0.069%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1815	−0.116%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0301%	1h	2.1869	+0.133%	$14.1M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	+0.046%	$4.2M	$635K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+1.007%	$285K	$391K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0468%	1h	2.1873	+0.151%	$258K	$282K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0874%	1h	2.1873	+0.152%	$1.3M	$2.5M	50x	as long as short