Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0484%/8h= −53.0% APRpaid last 24h −0.024%

Price spread now: Lighter against SunX−0.435%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$185as in the Funding arb table

Net, price: spread back to 7d avg − costs−$206as in the Price arb table

costs, in and out, $10k−$1731.731% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.404%+$40 · spread now −0.435%, 7d avg −0.104%

Together, before fees+0.288%+ Points / potential airdropLighter: Season 3 · farm board+$29 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 Lighter is 0.332% cheaper against SunX than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of −0.104%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.116% in total (about -6.0% 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	2.1590	0.0100	pay 0.0050% / 4h	2h 51m	$2K	$1.6M	50x
Short	Lighter TRUMP	2.1496	−0.0384	pay 0.0048% / 1h	51m 33s	$951K	$994K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.435%Rate

Funding earned: −$101.64
Price spread: −0.435% → −0.104%: −$33.18
Slippage, 4 orders: −$165.08
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$307.91
Costs to cover: 1.731%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Lighter: live order book, 59 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 SunX live order book, 3 min ago	32.48 bp	62.8 bp −$63	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 59 min ago	0.92 bp	10.7 bp −$11	36.2 bp −$362	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	−0.1827%	1h	2.1390	−0.926%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0426%	1h	2.1555	−0.162%	$87	$6K	5x	as long as short
Lighter TRUMPshort	−0.0384%	1h	2.1496	−0.435%	$951K	$994K	10x
Bybit TRUMPUSDT	−0.0308%	4h	2.1520	−0.324%	$30.6M	$50.9M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1527	−0.294%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0235%	8h	2.1494	−0.445%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0213%	1h	2.1569	−0.097%	$406K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0210%	4h	2.1520	−0.324%	$7.7M	$52.2M	75x	as long as short
Extended TRUMP-USD	−0.0200%	1h	2.1499	−0.421%	$74K	$718K	25x	as long as short
Binance TRUMPUSDT	−0.0198%	4h	2.1510	−0.371%	$60.7M	$246.6M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0095%	4h	2.1505	−0.396%	$105K	$264K	20x	as long as short
Variational Omni TRUMP	−0.0086%	4h	2.1551	−0.180%	$665K	$437K	—	as long as short
dYdX TRUMP-USD	−0.0041%	1h	2.1546	−0.203%	$27K	$506	5x	as long as short
GRVT TRUMP_USDT_Perp	−0.0024%	4h	2.1536	−0.249%	$180K	$4.7M	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0019%	4h	2.1540	−0.232%	$5K	$209K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1565	−0.117%	$41K	—	150x	as long as short
OKX TRUMP-USDT-SWAP	+0.0015%	4h	2.1510	−0.371%	$27.3M	$179.2M	50x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1541	−0.228%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0045%	4h	2.1540	−0.232%	$4.2M	$648K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1544	−0.213%	$13.6M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1539	−0.234%	$405K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1517	−0.338%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1510	−0.371%	$400K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1520	−0.324%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1510	−0.371%	$15.5M	$26.3M	75x	as long as short
SunX TRUMP-USDTlong	+0.0100%	4h	2.1590	long leg	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1570	−0.093%	$491K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1568	−0.101%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1585	−0.024%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0388%	1h	2.1574	−0.074%	$382K	$404K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1600	+0.046%	$286K	$305K	50x	as long as short