Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0450%/8h= −49.3% APRpaid last 24h −0.032%

Price spread now: Deribit against HTX−0.207%7-day average −0.061% · you buy dearer than you sell

Net, funding: paid 7d − costs−$94as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.330%−$33 on $10k

Price spread, last 4 days (all we have)+0.212%+$21 · spread now −0.207%, 7d avg −0.061%

Together, before fees−0.118%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.146% cheaper against HTX than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.061%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TRUMP-USDT	2.1700	0.0100	pay 0.0050% / 4h	3h 15m	$495K	$2.3M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1655	−0.0350	pay 0.0044% / 1h	15m 38s	$408K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against HTX. 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 HTXbpFee DeribitbpOrdersPrice spread, now −0.207%Rate

Funding earned: −$94.49
Price spread: −0.207% → −0.061%: −$14.62
Slippage, 4 orders: −$42.37
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$170.49
Costs to cover: 0.614%
Break-even: never at this rate

Slippage from HTX: live order book, 3 min ago; Deribit: live order book, 38 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 HTX live order book, 3 min ago	6.93 bp	12.9 bp −$13	152.7 bp −$1,527	doesn't fit	doesn't fit
Sell Deribit live order book, 38 min ago	6.42 bp	9.9 bp −$10	19.9 bp −$199	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	−0.1765%	1h	2.1550	−0.691%	$13K	$157K	12x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0350%	1h	2.1655	−0.207%	$408K	$72K	10x
SoDEX TRUMP-USD	−0.0318%	1h	2.1648	−0.240%	$88	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0268%	8h	2.1664	−0.164%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1639	−0.281%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0130%	4h	2.1680	−0.092%	$7.9M	$52.0M	75x	as long as short
Binance TRUMPUSDT	−0.0116%	4h	2.1670	−0.138%	$61.2M	$246.1M	75x	as long as short
Extended TRUMP-USD	−0.0112%	1h	2.1659	−0.189%	$77K	$718K	25x	as long as short
edgeX TRUMPUSDC	−0.0057%	4h	2.1685	−0.070%	$106K	$265K	20x	as long as short
Variational Omni TRUMP	−0.0041%	4h	2.1651	−0.225%	$669K	$488K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0034%	4h	2.1670	−0.138%	$30.7M	$50.4M	50x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1686	−0.064%	$27K	$512	5x	as long as short
Lighter TRUMP	+0.0008%	1h	2.1665	−0.161%	$957K	$976K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1671	−0.132%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0011%	4h	2.1660	−0.184%	$4K	$189K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0042%	4h	2.1666	−0.155%	$182K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1638	−0.284%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1690	−0.046%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1678	−0.102%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1675	−0.117%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1670	−0.138%	$27.7M	$179.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1660	−0.184%	$406K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1670	−0.138%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1670	−0.138%	$15.6M	$26.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1680	−0.092%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.1700	long leg	$495K	$2.3M	50x
BloFin TRUMP-USDT	+0.0125%	4h	2.1710	+0.046%	$4.2M	$664K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1675	−0.114%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0173%	1h	2.1677	−0.105%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0194%	1h	2.1685	−0.069%	$384K	$399K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1670	−0.138%	$280K	$277K	50x	as long as short