Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0308%/8h= +33.7% APRpaid last 24h +0.026%

Price spread now: MEXC against Lighter0.000%7-day average −0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$280.278% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.136%−$14 · spread now 0.000%, 7d avg −0.047%

Together, before fees−0.296%+ Points / potential airdropLighter: Season 3 · farm board−$30 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and MEXC is 0.047% dearer against Lighter than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.047%. Mind the row above: over the last 7 days funding on this pair cost −0.161%, 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 -0.161% in total (about -8.4% a year). A funding rate is set anew for every payment. 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	2.1410	−0.0208	get 0.0026% / 1h	33m 06s	$936K	$1.0M	10x
Short	MEXC TRUMP_USDC	2.1410	0.0100	get 0.0050% / 4h	33m 06s	$398K	$147K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $64.68
Price spread: 0.000% → −0.047%: $4.74
Slippage, 4 orders: −$27.84
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: $41.57
Costs to cover: 0.278%
Break-even: 2.5 days

Slippage from Lighter: live order book, 2 min ago; MEXC: live order book, 61 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, 2 min ago	2.10 bp	6.3 bp −$6	36.4 bp −$364	doesn't fit	doesn't fit
Sell MEXC live order book, 61 min ago	4.69 bp	5.8 bp −$6	19.7 bp −$197	132.1 bp −$13.2K	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	2.1300	−0.514%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0309%	1h	2.1420	+0.047%	$78	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1421	+0.051%	$5	—	10x	as long as short
Lighter TRUMPlong	−0.0208%	1h	2.1410	long leg	$936K	$1.0M	10x
Variational Omni TRUMP	−0.0177%	4h	2.1391	−0.090%	$660K	$423K	—	as long as short
Extended TRUMP-USD	−0.0176%	1h	2.1419	+0.043%	$76K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0172%	4h	2.1420	+0.047%	$60.6M	$251.0M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0168%	4h	2.1410	0.000%	$26.6M	$184.1M	50x	as long as short
Bybit TRUMPUSDT	−0.0133%	4h	2.1420	+0.047%	$30.5M	$52.5M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0123%	1h	2.1436	+0.121%	$404K	$81K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0122%	4h	2.1430	+0.093%	$7.6M	$53.3M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0087%	8h	2.1424	+0.066%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0083%	4h	2.1405	−0.021%	$104K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0056%	4h	2.1430	+0.093%	$5K	$273K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1444	+0.159%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1442	+0.151%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0022%	4h	2.1430	+0.093%	$4.1M	$10.9M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1376	−0.158%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1380	−0.140%	$169K	$479K	50x	as long as short
BloFin TRUMP-USDT	+0.0068%	4h	2.1430	+0.093%	$4.2M	$702K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1432	+0.103%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1430	+0.093%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1448	+0.177%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDCshort	+0.0100%	4h	2.1410	0.000%	$398K	$147K	125x
Bitget TRUMPUSDT	+0.0100%	4h	2.1410	0.000%	$15.2M	$27.1M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1419	+0.040%	$172K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1460	+0.234%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1460	+0.234%	$482K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1439	+0.138%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0278%	1h	2.1446	+0.168%	$382K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0599%	1h	2.1454	+0.204%	$1.3M	$2.3M	50x	as long as short