Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0113%/8h= −12.4% APRpaid last 24h +0.013%

Price spread now: Binance against Lighter+0.250%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

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

costs, in and out, $10k−$320.315% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 4 days (all we have)−0.202%−$20 · spread now +0.250%, 7d avg +0.004%

Together, before fees−0.314%+ Points / potential airdropLighter: Season 3 · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.246% dearer against Lighter than usual: you sell high and buy low (spread +0.250% now, against its 7-day average of +0.004%): +$25 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.2 days. At the pace of the last 7 days (−0.112% in total) that is about 15 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1636	−0.0008	get 0.0001% / 1h	13m 46s	$956K	$976K	10x
Short	Binance TRUMPUSDT	2.1690	−0.0121	pay 0.0061% / 4h	3h 13m	$61.3M	$246.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Lighter. 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 LighterbpFee BinancebpOrdersPrice spread, now +0.250%Rate

Funding earned: −$23.82
Price spread: +0.250% → +0.004%: $24.6
Slippage, 4 orders: −$21.52
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$30.73
Costs to cover: 0.315%
Break-even: never at this rate

Slippage from Lighter: live order book, 36 min ago; Binance: live order book, 15 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 Lighter live order book, 36 min ago	0.92 bp	6.2 bp −$6	33.2 bp −$332	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	2.30 bp	7.3 bp −$7	15.0 bp −$150	42.4 bp −$4,235	212.2 bp −$106.1K

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	2.1570	−0.305%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0330%	1h	2.1640	+0.018%	$88	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0304%	1h	2.1653	+0.079%	$408K	$72K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0268%	8h	2.1631	−0.025%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1641	+0.025%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0130%	4h	2.1700	+0.296%	$7.9M	$52.1M	75x	as long as short
Binance TRUMPUSDTshort	−0.0121%	4h	2.1690	+0.250%	$61.3M	$246.3M	75x
Extended TRUMP-USD	−0.0120%	1h	2.1679	+0.198%	$77K	$718K	25x	as long as short
edgeX TRUMPUSDC	−0.0057%	4h	2.1685	+0.225%	$106K	$265K	20x	as long as short
Bybit TRUMPUSDT	−0.0050%	4h	2.1700	+0.296%	$30.9M	$50.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMP	−0.0041%	4h	2.1651	+0.070%	$669K	$488K	—	as long as short
Lighter TRUMPlong	−0.0008%	1h	2.1636	long leg	$956K	$976K	10x
dYdX TRUMP-USD	−0.0007%	1h	2.1666	+0.139%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1654	+0.084%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0009%	4h	2.1650	+0.065%	$4K	$192K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0042%	4h	2.1666	+0.141%	$182K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1628	−0.038%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0097%	4h	2.1700	+0.296%	$27.8M	$179.8M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1712	+0.351%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1702	+0.303%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1662	+0.120%	$187K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1690	+0.250%	$407K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1690	+0.250%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1700	+0.296%	$15.7M	$26.2M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1660	+0.111%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1670	+0.157%	$495K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0124%	4h	2.1680	+0.203%	$4.2M	$663K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1659	+0.108%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0173%	1h	2.1672	+0.164%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0189%	1h	2.1713	+0.356%	$384K	$399K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1650	+0.065%	$280K	$276K	50x	as long as short