Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h −0.017%

Price spread now: Lighter against Orderly−0.060%7-day average +0.009% · you buy dearer than you sell

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

Long on Orderly Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)+0.155%+$15 · spread now −0.060%, 7d avg +0.009%

Together, before fees+0.189%+ Points / potential airdropLighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.069% cheaper against Orderly than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of +0.009%). If the spread goes back, that is −$7 on $10k: about 4.5 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.034% in total) that is about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TRUMP_USDC	2.1700	0.0021	pay 0.0011% / 4h	3h 25m	$3K	$190K	10x
Short	Lighter TRUMP	2.1687	0.0072	get 0.0009% / 1h	25m 12s	$957K	$975K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.060%Rate

Funding earned: $10.68
Price spread: −0.060% → +0.009%: −$6.93
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.25
Costs to cover: 0.060%
Break-even: 8.5 days

Slippage unknown: Orderly: no order-book sample; Lighter: live order book, 25 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 Lighter live order book, 25 min ago	0.92 bp	10.7 bp −$11	36.2 bp −$362	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	−0.1765%	1h	2.1580	−0.553%	$13K	$157K	12x	as long as short
Paradex TRUMP-USD-PERP	−0.0307%	8h	2.1703	+0.012%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0278%	1h	2.1685	−0.069%	$86	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0257%	1h	2.1700	0.000%	$408K	$72K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	−0.042%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0242%	4h	2.1700	0.000%	$7.9M	$51.7M	75x	as long as short
Binance TRUMPUSDT	−0.0089%	4h	2.1681	−0.088%	$61.4M	$245.5M	75x	as long as short
Extended TRUMP-USD	−0.0088%	1h	2.1679	−0.098%	$75K	$716K	25x	as long as short
edgeX TRUMPUSDC	−0.0040%	4h	2.1704	+0.017%	$106K	$263K	20x	as long as short
Variational Omni TRUMP	−0.0020%	4h	2.1681	−0.088%	$670K	$516K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX TRUMP-USD	−0.0005%	1h	2.1720	+0.092%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1714	+0.065%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDClong	+0.0021%	4h	2.1700	long leg	$3K	$190K	10x
Bybit TRUMPUSDT	+0.0063%	4h	2.1690	−0.046%	$30.7M	$50.2M	50x	as long as short
Aevo TRUMP-PERP	+0.0064%	1h	2.1680	−0.092%	$19K	—	3x	as long as short
Lighter TRUMPshort	+0.0072%	1h	2.1687	−0.060%	$957K	$975K	10x
GRVT TRUMP_USDT_Perp	+0.0092%	4h	2.1790	+0.415%	$179K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1722	+0.101%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1712	+0.053%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1711	+0.052%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1690	−0.046%	$27.7M	$179.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1710	+0.046%	$407K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1710	+0.046%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1700	0.000%	$15.7M	$25.9M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1710	+0.046%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1720	+0.092%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0151%	4h	2.1720	+0.092%	$4.2M	$665K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1714	+0.066%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0172%	1h	2.1716	+0.074%	$1.3M	$2.2M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0253%	1h	2.1725	+0.115%	$341K	$376K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1890	+0.876%	$283K	$279K	50x	as long as short