Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.023%

Price spread now: Deribit against Gate−0.033%51s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$73as 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−$490.492% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.239%−$24 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now −0.033%, 7d avg +0.023%

Together, before fees−0.186%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Deribit is 0.056% cheaper against Gate than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.023%). Swap the legs. The two prices were read 51 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	Gate TRUMP_USDT	2.1450	−0.0190	get 0.0095% / 4h	1h 03m	$7.7M	$48.1M	75x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1443	−0.0263	pay 0.0033% / 1h	3m 28s	$385K	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$15.27
Price spread: −0.033% → +0.023%: −$5.59
Slippage, 4 orders: −$27.21
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$70.07
Costs to cover: 0.492%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Deribit: live order book, 43 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 Gate live order book, 4 min ago	2.33 bp	13.1 bp −$13	30.2 bp −$302	71.4 bp −$7,136	doesn't fit
Sell Deribit live order book, 43 min ago	4.66 bp	9.1 bp −$9	18.1 bp −$181	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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
SoDEX TRUMP-USD	−0.0435%	1h	2.1435	−0.070%	$84	$6K	5x	as long as short
Variational Omni TRUMP	−0.0378%	4h	2.1449	−0.003%	$667K	$400K	—	as long as short
Extended TRUMP-USD	−0.0376%	1h	2.1428	−0.103%	$74K	$488K	25x	as long as short
Binance TRUMPUSDT	−0.0373%	4h	2.1450	0.000%	$62.8M	$236.7M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0344%	4h	2.1440	−0.047%	$27.1M	$172.8M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1410	−0.186%	$128K	$521K	50x	as long as short
Bybit TRUMPUSDT	−0.0286%	4h	2.1450	0.000%	$31.2M	$48.3M	50x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0263%	1h	2.1443	−0.033%	$385K	$79K	10x
MEXC TRUMP_USDC	−0.0252%	4h	2.1430	−0.093%	$388K	$144K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1429	−0.096%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0208%	1h	2.1436	−0.065%	$918K	$969K	10x	as long as short
Gate TRUMP_USDTlong	−0.0190%	4h	2.1450	long leg	$7.7M	$48.1M	75x
edgeX TRUMPUSDC	−0.0186%	4h	2.1429	−0.100%	$105K	$253K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0184%	4h	2.1430	−0.093%	$4.3M	$10.1M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0168%	8h	2.1433	−0.078%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0132%	4h	2.1440	−0.047%	$4.3M	$658K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0095%	4h	2.1430	−0.093%	$5K	$293K	10x	as long as short
Bitget TRUMPUSDT	−0.0034%	4h	2.1460	+0.047%	$15.5M	$24.8M	75x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1417	−0.153%	$19K	—	3x	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1455	+0.025%	$25K	$3K	5x	as long as short
GRVT TRUMP_USDT_Perp	+0.0008%	4h	2.1445	−0.025%	$180K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1453	+0.014%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1482	+0.150%	$1.4M	$2.1M	50x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.699%	$13K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1460	+0.047%	$13.5M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1445	−0.023%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1458	+0.037%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1460	+0.047%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1460	+0.047%	$487K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1430	−0.093%	$250K	$560K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0167%	1h	2.1473	+0.107%	$384K	$391K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0213% / S −0.0214%	1h	2.1467	+0.078%	$11K	—	100x	as long as short