TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0790%/8h= +86.5% APRnext payment +$0.99 per $10,000 · paid last 24h +0.029%

Price spread now: Kraken Futures against Lighter+0.177%7-day average +0.079% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

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

costs, in and out, $10k−$480.483% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 4 days (all we have)−0.145%−$15 · spread now +0.177%, 7d avg +0.079%

Together, before fees−0.272%+ Points / potential airdropLighter: Season 3 · farm board−$27 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Kraken Futures is 0.098% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.079%. Mind the row above: over the last 7 days funding on this pair cost −0.127%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.127% in total (about -6.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.99 per $10,000. 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	Lighter TRUMP	2.1452	−0.0192	get 0.0024% / 1h	4m 17s	$938K	$1.0M	10x
Short	Kraken Futures PF_TRUMPUSD	2.1490	0.0598	get 0.0075% / 1h	4m 17s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.177%Rate

Funding earned: $165.92
Price spread: +0.177% → +0.079%: $9.77
Slippage, 4 orders: −$38.34
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $127.35
Costs to cover: 0.483%
Break-even: 1.6 days

Slippage from Lighter: live order book, 1 min ago; Kraken Futures: live order book, 4 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, 1 min ago	1.63 bp	5.5 bp −$5	32.4 bp −$324	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	2.32 bp	15.4 bp −$15	30.0 bp −$300	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	−0.1797%	1h	2.1380	−0.336%	$12K	$157K	12x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0402%	1h	2.1465	+0.061%	$404K	$65K	10x	as long as short
SoDEX TRUMP-USD	−0.0394%	1h	2.1455	+0.014%	$74	$6K	5x	as long as short
Variational Omni TRUMP	−0.0258%	4h	2.1482	+0.140%	$663K	$421K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1452	+0.001%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0216%	4h	2.1460	+0.037%	$30.4M	$52.2M	50x	as long as short
Extended TRUMP-USD	−0.0200%	1h	2.1450	−0.010%	$74K	$492K	25x	as long as short
OKX TRUMP-USDT-SWAP	−0.0200%	4h	2.1450	−0.009%	$26.8M	$183.6M	50x	as long as short
Binance TRUMPUSDT	−0.0198%	4h	2.1450	−0.009%	$60.6M	$249.8M	75x	as long as short
Lighter TRUMPlong	−0.0192%	1h	2.1452	long leg	$938K	$1.0M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0120%	8h	2.1479	+0.124%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0106%	4h	2.1460	+0.037%	$7.7M	$53.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0094%	4h	2.1498	+0.215%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0076%	4h	2.1460	+0.037%	$5K	$283K	10x	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1508	+0.260%	$27K	$501	5x	as long as short
KuCoin TRUMPUSDTM	+0.0004%	4h	2.1470	+0.084%	$4.1M	$10.8M	50x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1475	+0.108%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1440	−0.055%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0042%	4h	2.1490	+0.177%	$4.2M	$688K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1500	+0.224%	$168K	$482K	50x	as long as short
Bitget TRUMPUSDT	+0.0068%	4h	2.1490	+0.177%	$15.4M	$27.0M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1480	+0.131%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1480	+0.131%	$403K	$776K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1484	+0.149%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1450	−0.009%	$399K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1502	+0.232%	$175K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1490	+0.177%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1470	+0.084%	$494K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1470	+0.085%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0295%	1h	2.1491	+0.182%	$382K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0598%	1h	2.1490	+0.177%	$1.3M	$2.3M	50x