Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.018%

Price spread now: Lighter against OKX+0.014%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.014%, 7d avg +0.015%

Together, before fees−0.024%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRUMP-USDT-SWAP	2.1910	0.0100	pay 0.0050% / 4h	1h 06m	$26.9M	$150.9M	50x
Short	Lighter TRUMP	2.1913	0.0096	get 0.0012% / 1h	6m 13s	$986K	$724K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$0.84
Price spread: +0.014% → +0.015%: −$0.09
Slippage, 4 orders: −$17.09
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$28.02
Costs to cover: 0.271%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Lighter: live order book, 9 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, 3 min ago	2.28 bp	7.3 bp −$7	11.9 bp −$119	44.4 bp −$4,445	doesn't fit
Sell Lighter live order book, 9 min ago	1.60 bp	7.1 bp −$7	26.5 bp −$265	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	−0.1472%	1h	2.1800	−0.502%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1927	+0.078%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1905	−0.023%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1926	+0.073%	$411K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1926	+0.072%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1888	−0.100%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1910	0.000%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1914	+0.018%	$5K	—	5x	as long as short
Lighter TRUMPshort	+0.0096%	1h	2.1913	+0.014%	$986K	$724K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.1939	+0.132%	$14.1M	$7.5M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1931	+0.095%	$456K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1920	+0.045%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1919	+0.042%	$62.5M	$220.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1920	+0.046%	$30.6M	$43.4M	50x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.1910	long leg	$26.9M	$150.9M	50x
Gate TRUMP_USDT	+0.0100%	4h	2.1910	0.000%	$7.4M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1910	0.000%	$481K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1920	+0.046%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1930	+0.091%	$15.5M	$21.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1882	−0.128%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1911	+0.006%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1950	+0.183%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1918	+0.037%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1940	+0.137%	$529K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1916	+0.025%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1915	+0.023%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1930	+0.090%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1910	0.000%	$4.2M	$626K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0341%	1h	2.1937	+0.123%	$259K	$274K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1890	−0.091%	$282K	$401K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0521%	1h	2.1944	+0.156%	$1.3M	$2.5M	50x	as long as short