Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.020%

Price spread now: Bitget against Lighter+0.084%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$350.353% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.216%−$22 · spread now +0.084%, 7d avg +0.003%

Together, before fees−0.214%+ Points / potential airdropLighter: Season 3 · farm board−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Bitget is 0.081% dearer against Lighter than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1552	−0.0024	get 0.0003% / 1h	12m 25s	$954K	$957K	10x
Short	Bitget TRUMPUSDT	2.1570	0.0100	get 0.0050% / 4h	12m 25s	$15.6M	$25.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.084%Rate

Funding earned: $26.04
Price spread: +0.084% → +0.003%: $8.09
Slippage, 4 orders: −$23.28
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$1.16
Costs to cover: 0.353%
Break-even: 7.3 days

Slippage from Lighter: live order book, 43 min ago; Bitget: 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 Lighter live order book, 43 min ago	1.39 bp	8.5 bp −$8	36.1 bp −$361	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	2.32 bp	8.3 bp −$8	12.5 bp −$125	40.8 bp −$4,085	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	−0.1690%	1h	2.1420	−0.612%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	+0.090%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0102%	1h	2.1575	+0.107%	$94	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0042%	4h	2.1570	+0.084%	$7.6M	$51.1M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0028%	1h	2.1575	+0.107%	$406K	$72K	10x	as long as short
Variational Omni TRUMP	−0.0026%	4h	2.1531	−0.096%	$665K	$488K	—	as long as short
Lighter TRUMPlong	−0.0024%	1h	2.1552	long leg	$954K	$957K	10x
Extended TRUMP-USD	−0.0016%	1h	2.1554	+0.010%	$74K	$721K	25x	as long as short
Binance TRUMPUSDT	−0.0016%	4h	2.1570	+0.084%	$60.6M	$241.8M	75x	as long as short
edgeX TRUMPUSDC	−0.0005%	4h	2.1545	−0.030%	$105K	$265K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX TRUMP-USD	−0.0002%	1h	2.1566	+0.065%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1577	+0.116%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0037%	8h	2.1554	+0.009%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1560	+0.037%	$4K	$202K	10x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1555	+0.015%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1595	+0.200%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1581	+0.137%	$423K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1573	+0.097%	$186K	$53K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1580	+0.130%	$30.6M	$49.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1570	+0.084%	$27.3M	$173.7M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1560	+0.037%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1570	+0.084%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1570	+0.084%	$15.6M	$25.5M	75x
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1598	+0.213%	$339K	$361K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1529	−0.106%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.223%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1590	+0.176%	$504K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1580	+0.129%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1603	+0.239%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0224%	4h	2.1570	+0.084%	$4.2M	$684K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1580	+0.130%	$279K	$276K	50x	as long as short