Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.018%

Price spread now: KuCoin against Lighter+0.077%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$530.527% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 4 days (all we have)−0.161%−$16 · spread now +0.077%, 7d avg +0.016%

Together, before fees−0.200%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.061% dearer against Lighter than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.2043	0.0096	pay 0.0012% / 1h	0m 08s	$978K	$784K	10x
Short	KuCoin TRUMPUSDTM	2.2060	0.0100	get 0.0050% / 4h	3h 00m	$4.1M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.077%Rate

Funding earned: $0.84
Price spread: +0.077% → +0.016%: $6.11
Slippage, 4 orders: −$40.75
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$45.8
Costs to cover: 0.527%
Break-even: 388.7 days

Slippage from Lighter: live order book, 5 min ago; KuCoin: live order book, 3 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, 5 min ago	2.46 bp	9.2 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	2.26 bp	16.1 bp −$16	68.9 bp −$689	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	−0.1608%	1h	2.2020	−0.104%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2052	+0.039%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2061	+0.082%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2053	+0.045%	$414K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2065	+0.099%	$44K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2199	+0.709%	$108K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0082%	8h	2.2044	+0.003%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0092%	4h	2.2040	−0.014%	$3K	$249K	10x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.2043	long leg	$978K	$784K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.2079	+0.166%	$14.3M	$6.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.2050	+0.032%	$460K	$860K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2065	+0.099%	$191K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2070	+0.122%	$63.7M	$230.5M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2050	+0.032%	$31.3M	$46.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2060	+0.077%	$28.6M	$163.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2050	+0.032%	$7.8M	$49.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2060	+0.077%	$476K	$135K	125x	as long as short
KuCoin TRUMPUSDTMshort	+0.0100%	4h	2.2060	+0.077%	$4.1M	$10.8M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.2080	+0.168%	$16.0M	$23.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2051	+0.037%	$702K	$441K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2373	+1.497%	$184K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2070	+0.122%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2055	+0.054%	$82	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2100	+0.259%	$573K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2049	+0.029%	$79K	$595K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2056	+0.061%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2070	+0.121%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2070	+0.122%	$4.3M	$671K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0428%	1h	2.2091	+0.218%	$262K	$308K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2230	+0.848%	$292K	$286K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0780%	1h	2.2086	+0.193%	$1.3M	$2.6M	50x	as long as short