Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0100%/8hpaid last 24h −0.030%

Price spread now: Deribit against Bybit+0.149%7-day average +0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on Bybit Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.175%−$18 on $10k

Price spread, last 3 days (all we have)−0.114%−$11 · spread now +0.149%, 7d avg +0.038%

Together, before fees−0.289%−$29 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.111% dearer against Bybit than usual: you sell high and buy low (spread +0.149% now, against its 7-day average of +0.038%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.1490	0.0100	pay 0.0050% / 4h	23m 44s	$30.0M	$40.9M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1522	0	get 0.0000% / 1h	23m 44s	$403K	$76K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bybit. 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 BybitbpFee DeribitbpOrdersPrice spread, now +0.149%Rate

Funding earned: −$21
Price spread: +0.149% → +0.038%: $11.1
Slippage, 4 orders: −$23.81
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$51.71
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from Bybit: live order book, 9 min ago; Deribit: live order book, 9 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 Bybit live order book, 9 min ago	2.34 bp	12.5 bp −$12	18.4 bp −$184	152.2 bp −$15.2K	doesn't fit
Sell Deribit live order book, 9 min ago	7.24 bp	10.7 bp −$11	20.5 bp −$205	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	−0.1937%	1h	2.1350	−0.651%	$12K	$115K	12x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0394%	1h	2.1521	+0.143%	$1.0M	$2.1M	50x	as long as short
Lighter TRUMP	−0.0360%	1h	2.1493	+0.014%	$962K	$585K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1527	+0.172%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0133%	1h	2.1508	+0.084%	$77	$6K	5x	as long as short
dYdX TRUMP-USD	−0.0023%	1h	2.1510	+0.093%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1522	+0.149%	$403K	$76K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1538	+0.224%	$41K	—	150x	as long as short
MEXC TRUMP_USDC	+0.0018%	4h	2.1490	0.000%	$472K	$135K	125x	as long as short
Paradex TRUMP-USD-PERP	+0.0028%	8h	2.1491	+0.005%	$5K	—	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0033%	4h	2.1413	−0.358%	$117K	$242K	20x	as long as short
Gate TRUMP_USDT	+0.0046%	4h	2.1520	+0.140%	$7.5M	$44.7M	75x	as long as short
Binance TRUMPUSDT	+0.0059%	4h	2.1490	0.000%	$61.6M	$209.3M	75x	as long as short
Extended TRUMP-USD	+0.0064%	1h	2.1508	+0.085%	$74K	$472K	25x	as long as short
Orderly PERP_TRUMP_USDC	+0.0089%	4h	2.1530	+0.186%	$3K	$249K	10x	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1515	+0.116%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1522	+0.149%	$13.7M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1534	+0.206%	$433K	$824K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1498	+0.037%	$185K	$65K	10x	as long as short
Bybit TRUMPUSDTlong	+0.0100%	4h	2.1490	long leg	$30.0M	$40.9M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1490	0.000%	$26.6M	$143.2M	50x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1520	+0.140%	$4.4M	$9.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1490	0.000%	$15.2M	$19.9M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1531	+0.191%	$254K	$265K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1425	−0.303%	$666K	$231K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1370	−0.560%	$189K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1550	+0.279%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1540	+0.233%	$500K	$1.6M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0228% / S −0.0259%	1h	2.1539	+0.229%	$11K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0247%	4h	2.1520	+0.140%	$4.2M	$475K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0280%	1h	2.1570	+0.372%	$277K	$397K	50x	as long as short