Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.014%

Price spread now: Lighter against Gate+0.042%7-day average −0.006% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$440.436% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.042%, 7d avg −0.006%

Together, before fees−0.025%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.049% dearer against Gate than usual: you sell high and buy low (spread +0.042% now, against its 7-day average of −0.006%): +$5 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.032% in total) that is about 11 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.032% in total (about -1.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TRUMP_USDT	2.1260	−0.0172	get 0.0086% / 4h	2h 25m	$7.6M	$53.4M	75x
Short	Lighter TRUMP	2.1269	−0.0488	pay 0.0061% / 1h	25m 08s	$940K	$999K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$66.36
Price spread: +0.042% → −0.006%: $4.88
Slippage, 4 orders: −$28.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$105.06
Costs to cover: 0.436%
Break-even: never at this rate

Slippage from Gate: live order book, 4 min ago; Lighter: live order book, 20 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	2.36 bp	12.3 bp −$12	28.9 bp −$289	67.1 bp −$6,710	doesn't fit
Sell Lighter live order book, 20 min ago	0.23 bp	10.3 bp −$10	32.1 bp −$321	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	−0.1827%	1h	2.1090	−0.800%	$12K	$157K	12x	as long as short
Lighter TRUMPshort	−0.0488%	1h	2.1269	+0.042%	$940K	$999K	10x
SoDEX TRUMP-USD	−0.0419%	1h	2.1277	+0.080%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0352%	4h	2.1250	−0.047%	$30.0M	$51.6M	50x	as long as short
Binance TRUMPUSDT	−0.0274%	4h	2.1250	−0.047%	$59.8M	$250.2M	75x	as long as short
Extended TRUMP-USD	−0.0272%	1h	2.1269	+0.043%	$77K	$745K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1277	+0.078%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0223%	8h	2.1292	+0.149%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0202%	4h	2.1212	−0.228%	$654K	$426K	—	as long as short
Gate TRUMP_USDTlong	−0.0172%	4h	2.1260	long leg	$7.6M	$53.4M	75x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0135%	4h	2.1178	−0.385%	$103K	$263K	20x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0079%	1h	2.1293	+0.155%	$401K	$72K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0070%	4h	2.1240	−0.094%	$26.6M	$179.8M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0047%	4h	2.1270	+0.047%	$5K	$223K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1215	−0.211%	$175K	$4.7M	10x	as long as short
BloFin TRUMP-USDT	−0.0034%	4h	2.1280	+0.094%	$4.1M	$686K	75x	as long as short
dYdX TRUMP-USD	−0.0020%	1h	2.1286	+0.124%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1298	+0.179%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1280	+0.094%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1261	+0.005%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1255	−0.023%	$400K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1273	+0.061%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1270	+0.047%	$396K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1280	+0.094%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1250	−0.047%	$15.2M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1310	+0.235%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1320	+0.282%	$478K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1306	+0.216%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0167%	1h	2.1284	+0.113%	$378K	$411K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0200%	1h	2.1302	+0.196%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1210	−0.235%	$241K	$341K	50x	as long as short