Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: edgeX against Deribit−0.322%75s7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$830.830% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 3 days (all we have)+0.330%+$33 · spread now −0.322%, 7d avg −0.045%

Together, before fees+0.449%+ Points / potential airdropedgeX: Active · farm board+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.276% cheaper against Deribit than usual: you would sell low and buy high (spread −0.322% now, against its 7-day average of −0.045%). If the spread goes back, that is −$28 on $10k: about 18 days of funding at the current rate (+$2 a day). The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.2138	0	get 0.0000% / 1h	36m 13s	$417K	$80K	10x
Short	edgeX TRUMPUSDC	2.2067	0.0050	get 0.0025% / 4h	2h 36m	$107K	$262K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Deribit. 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 DeribitbpFee edgeXbpOrdersPrice spread, now −0.322%Rate

Funding earned: $10.5
Price spread: −0.322% → −0.045%: −$27.64
Slippage, 4 orders: −$66.97
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$100.11
Costs to cover: 0.830%
Break-even: 73.7 days

Slippage from Deribit: live order book, 32 min ago; edgeX: live order book, 31 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 Deribit live order book, 32 min ago	8.90 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 31 min ago	8.92 bp	16.8 bp −$17	43.1 bp −$431	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	2.1900	−1.075%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2137	−0.006%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2057	−0.367%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.2138	long leg	$417K	$80K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2134	−0.017%	$43K	—	150x	as long as short
Gate TRUMP_USDT	+0.0014%	4h	2.2120	−0.081%	$7.8M	$48.9M	75x	as long as short
edgeX TRUMPUSDCshort	+0.0050%	4h	2.2067	−0.322%	$107K	$262K	20x
Paradex TRUMP-USD-PERP	+0.0077%	8h	2.2098	−0.183%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2130	−0.036%	$3K	$240K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2117	−0.095%	$983K	$789K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRUMP	+0.0100%	1h	2.2159	+0.095%	$14.8M	$7.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2136	−0.010%	$438K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2081	−0.257%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2135	−0.013%	$64.3M	$236.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2130	−0.036%	$31.7M	$48.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2120	−0.081%	$29.0M	$170.7M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2130	−0.036%	$441K	$145K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2120	−0.081%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2140	+0.009%	$15.8M	$24.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2122	−0.074%	$697K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2076	−0.279%	$182K	$4.7M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2170	+0.145%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2129	−0.041%	$80	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2180	+0.190%	$553K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2119	−0.084%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2125	−0.059%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2138	+0.001%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0309%	1h	2.2078	−0.271%	$258K	$323K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+0.416%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0510%	1h	2.2148	+0.045%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2120	−0.081%	$287K	$307K	50x	as long as short