Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.037%

Price spread now: HTX against Deribit+0.112%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.327%+$33 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.112%, 7d avg +0.063%

Together, before fees+0.244%+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and HTX is 0.049% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1436	−0.0123	get 0.0015% / 1h	32m 23s	$404K	$81K	10x
Short	HTX TRUMP-USDT	2.1460	0.0100	get 0.0050% / 4h	32m 23s	$482K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.112%Rate

Funding earned: $46.84
Price spread: +0.112% → +0.063%: $4.9
Slippage, 4 orders: −$44.35
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$11.61
Costs to cover: 0.634%
Break-even: 8.7 days

Slippage from Deribit: live order book, 6 min ago; HTX: live order book, 1 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, 6 min ago	8.85 bp	12.4 bp −$12	22.8 bp −$228	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	6.99 bp	20.9 bp −$21	47.7 bp −$477	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	−0.1797%	1h	2.1300	−0.634%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0309%	1h	2.1420	−0.075%	$78	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1371	−0.303%	$5	—	10x	as long as short
Lighter TRUMP	−0.0208%	1h	2.1404	−0.149%	$936K	$1.0M	10x	as long as short
Variational Omni TRUMP	−0.0177%	4h	2.1391	−0.211%	$660K	$423K	—	as long as short
Extended TRUMP-USD	−0.0176%	1h	2.1369	−0.311%	$76K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0174%	4h	2.1379	−0.266%	$60.5M	$251.5M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0168%	4h	2.1370	−0.308%	$26.5M	$183.7M	50x	as long as short
Bybit TRUMPUSDT	−0.0139%	4h	2.1390	−0.215%	$30.4M	$52.6M	50x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0123%	1h	2.1436	long leg	$404K	$81K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0118%	4h	2.1390	−0.215%	$7.6M	$53.3M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0088%	8h	2.1379	−0.267%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0083%	4h	2.1405	−0.143%	$104K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0056%	4h	2.1430	−0.028%	$5K	$273K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1426	−0.048%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1442	+0.030%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0022%	4h	2.1390	−0.215%	$4.1M	$10.9M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1376	−0.279%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1380	−0.261%	$169K	$479K	50x	as long as short
BloFin TRUMP-USDT	+0.0068%	4h	2.1430	−0.028%	$4.2M	$702K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1398	−0.177%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1399	−0.171%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1402	−0.159%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1370	−0.308%	$397K	$147K	125x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1380	−0.261%	$15.2M	$27.1M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1419	−0.081%	$172K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1460	+0.112%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1460	+0.112%	$482K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1439	+0.016%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0278%	1h	2.1446	+0.047%	$382K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0599%	1h	2.1454	+0.082%	$1.3M	$2.3M	50x	as long as short