Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0380%/8h= +41.6% APRpaid last 24h +0.018%

Price spread now: SunX against Lighter+0.161%7-day average +0.106% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 3 days (all we have)−0.106%−$11 · spread now +0.161%, 7d avg +0.106%

Together, before fees+0.004%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and SunX is 0.056% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.106%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.110% in total (about 5.7% 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	2.1675	−0.0280	get 0.0035% / 1h	49m 17s	$965K	$792K	10x
Short	SunX TRUMP-USDT	2.1710	0.0100	get 0.0050% / 4h	1h 49m	$2K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.161%Rate

Funding earned: $79.8
Price spread: +0.161% → +0.106%: $5.56
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: $77.36
Costs to cover: 0.080%
Break-even: 0.2 days

Slippage unknown: Lighter: live order book, 11 min ago; SunX: live order book, 6 min ago. Net counts fees only.

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, 11 min ago	1.60 bp	8.6 bp −$9	28.2 bp −$282	doesn't fit	doesn't fit
Sell SunX live order book, 6 min ago	502.51 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1659%	1h	2.1620	−0.254%	$13K	$157K	12x	as long as short
Lighter TRUMPlong	−0.0280%	1h	2.1675	long leg	$965K	$792K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1696	+0.097%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0102%	4h	2.1710	+0.161%	$7.6M	$49.2M	75x	as long as short
SoDEX TRUMP-USD	−0.0076%	1h	2.1675	0.000%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1736	+0.281%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1681	+0.028%	$408K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1704	+0.135%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1808	+0.612%	$106K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0052%	8h	2.1712	+0.172%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0081%	4h	2.1680	+0.023%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1722	+0.216%	$14.3M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1722	+0.218%	$429K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1725	+0.233%	$187K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1700	+0.115%	$63.0M	$235.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1680	+0.023%	$31.1M	$48.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1690	+0.069%	$27.8M	$168.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1700	+0.115%	$426K	$142K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1710	+0.161%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1700	+0.115%	$15.5M	$24.8M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1718	+0.198%	$255K	$316K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1831	+0.719%	$688K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1850	+0.807%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.1710	+0.161%	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1730	+0.254%	$531K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1654	−0.096%	$115K	$705K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1665	−0.046%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1706	+0.145%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0289%	1h	2.1708	+0.153%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1710	+0.161%	$281K	$300K	50x	as long as short