Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.018%

Price spread now: Lighter against Bitget−0.140%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Bitget 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)+0.197%+$20 · spread now −0.140%, 7d avg −0.001%

Together, before fees+0.198%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.140% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TRUMPUSDT	2.2080	0.0100	pay 0.0050% / 4h	2h 39m	$15.8M	$24.1M	75x
Short	Lighter TRUMP	2.2049	0.0096	get 0.0012% / 1h	39m 45s	$980K	$788K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.140%Rate

Funding earned: −$0.84
Price spread: −0.140% → −0.001%: −$13.98
Slippage, 4 orders: −$28.59
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$55.41
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Lighter: live order book, 26 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 Bitget live order book, 4 min ago	4.49 bp	14.3 bp −$14	21.3 bp −$213	57.1 bp −$5,707	doesn't fit
Sell Lighter live order book, 26 min ago	2.46 bp	6.6 bp −$7	37.1 bp −$371	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	−0.1623%	1h	2.1990	−0.408%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1959	−0.547%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0016%	4h	2.2000	−0.362%	$7.8M	$48.6M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2096	+0.071%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1983	−0.439%	$414K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1954	−0.572%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2246	+0.753%	$108K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0078%	8h	2.2070	−0.044%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0081%	1h	2.2005	−0.340%	$80	$6K	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1980	−0.453%	$3K	$236K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMPshort	+0.0096%	1h	2.2049	−0.140%	$980K	$788K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.2067	−0.059%	$14.8M	$6.9M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2014	−0.297%	$435K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2086	+0.026%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2090	+0.047%	$64.1M	$235.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2060	−0.091%	$31.5M	$48.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2060	−0.091%	$28.8M	$169.8M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2060	−0.091%	$440K	$145K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2070	−0.045%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDTlong	+0.0100%	4h	2.2080	long leg	$15.8M	$24.1M	75x
Variational Omni TRUMP	+0.0100%	4h	2.2072	−0.038%	$698K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2190	+0.499%	$192K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2050	−0.136%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2070	−0.045%	$573K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2010	−0.318%	$76K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1987	−0.422%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1943	−0.622%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0296%	1h	2.2021	−0.267%	$258K	$323K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+0.679%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0512%	1h	2.2040	−0.181%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	+0.091%	$286K	$307K	50x	as long as short