Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0499%/8h= −54.6% APRpaid last 24h −0.039%

Price spread now: Deribit against SunX−0.250%7-day average −0.066% · you buy dearer than you sell

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

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.328%−$33 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now −0.250%, 7d avg −0.066%

Together, before fees−0.149%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Deribit is 0.184% cheaper against SunX than usual: you would sell low and buy high (−$18 if the spread goes back to its 7-day average of −0.066%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.328% in total (about -17.1% 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	SunX TRUMP-USDT	2.1610	0.0100	pay 0.0050% / 4h	3h 46m	$2K	$1.5M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1556	−0.0399	pay 0.0050% / 1h	46m 55s	$406K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.250%Rate

Funding earned: −$104.8
Price spread: −0.250% → −0.066%: −$18.43
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$138.23
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; Deribit: live order book, 52 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 SunX live order book, 8 min ago	504.30 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 52 min ago	8.85 bp	12.4 bp −$12	21.6 bp −$216	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	2.1470	−0.648%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0536%	1h	2.1545	−0.301%	$72	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0399%	1h	2.1556	−0.250%	$406K	$65K	10x
Variational Omni TRUMP	−0.0310%	4h	2.1561	−0.225%	$663K	$421K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1557	−0.247%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1539	−0.327%	$74K	$494K	25x	as long as short
Binance TRUMPUSDT	−0.0221%	4h	2.1550	−0.278%	$61.1M	$247.4M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0220%	4h	2.1550	−0.278%	$27.0M	$183.6M	50x	as long as short
Lighter TRUMP	−0.0160%	1h	2.1553	−0.264%	$942K	$988K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	−0.463%	$168K	$473K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0131%	8h	2.1574	−0.165%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0108%	4h	2.1541	−0.318%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0092%	4h	2.1550	−0.278%	$5K	$292K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0010%	4h	2.1560	−0.231%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1596	−0.063%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1578	−0.150%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0019%	4h	2.1520	−0.416%	$4.2M	$688K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1530	−0.370%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0030%	4h	2.1540	−0.324%	$181K	$4.3M	10x	as long as short
Bitget TRUMPUSDT	+0.0048%	4h	2.1560	−0.231%	$15.4M	$26.6M	75x	as long as short
Gate TRUMP_USDT	+0.0058%	4h	2.1560	−0.231%	$7.7M	$49.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0079%	4h	2.1550	−0.278%	$30.8M	$52.0M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1586	−0.111%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1580	−0.139%	$405K	$718K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1590	−0.093%	$186K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1560	−0.231%	$401K	$148K	125x	as long as short
SunX TRUMP-USDTlong	+0.0100%	4h	2.1610	long leg	$2K	$1.5M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1570	−0.185%	$503K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1577	−0.154%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1579	−0.144%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0359%	1h	2.1596	−0.065%	$383K	$420K	10x	as long as short