Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0071%/8h= −7.7% APRpaid last 24h −0.029%

Price spread now: Deribit against Orderly+0.023%7-day average +0.045% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.190%−$19 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.023%, 7d avg +0.045%

Together, before fees−0.142%−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.022% cheaper against Orderly than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TRUMP_USDC	2.1800	0.0071	pay 0.0035% / 4h	1h 12m	$4K	$238K	10x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1805	0	get 0.0000% / 1h	12m 51s	$410K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$14.83
Price spread: +0.023% → +0.045%: −$2.17
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$30.01
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 51 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 51 min ago	6.82 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1659%	1h	2.1740	−0.275%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1801	+0.006%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0042%	4h	2.1750	−0.229%	$7.7M	$50.2M	75x	as long as short
SoDEX TRUMP-USD	−0.0036%	1h	2.1795	−0.023%	$82	$6K	5x	as long as short
Lighter TRUMP	−0.0024%	1h	2.1798	−0.009%	$971K	$838K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1806	+0.026%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1805	+0.023%	$410K	$72K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1820	+0.092%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0031%	8h	2.1800	−0.002%	$5K	$175	5x	as long as short
Bybit TRUMPUSDT	+0.0048%	4h	2.1760	−0.183%	$31.0M	$48.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0050%	4h	2.1809	+0.043%	$106K	$264K	20x	as long as short
Orderly PERP_TRUMP_USDClong	+0.0071%	4h	2.1800	long leg	$4K	$238K	10x
Variational Omni TRUMP	+0.0085%	4h	2.1851	+0.233%	$689K	$456K	—	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1791	−0.041%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1778	−0.100%	$431K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1813	+0.060%	$188K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1760	−0.183%	$63.0M	$237.8M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1770	−0.138%	$27.7M	$171.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1740	−0.275%	$417K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1760	−0.183%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1770	−0.138%	$15.7M	$25.4M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1827	+0.126%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1830	+0.138%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1810	+0.046%	$535K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1739	−0.278%	$116K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1788	−0.053%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0107%	1h	2.1792	−0.037%	$255K	$319K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1817	+0.080%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0288%	1h	2.1820	+0.092%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1750	−0.229%	$4.3M	$657K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1900	+0.459%	$284K	$301K	50x	as long as short