Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h −0.029%

Price spread now: Deribit against Binance+0.063%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.039%−$4 · spread now +0.063%, 7d avg +0.034%

Together, before fees−0.141%−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.029% dearer against Binance than usual: you sell high and buy low (spread +0.063% now, against its 7-day average of +0.034%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 37 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TRUMPUSDT	2.1492	−0.0198	get 0.0099% / 4h	5m 06s	$60.8M	$249.3M	75x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1506	−0.0261	pay 0.0033% / 1h	5m 06s	$405K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now +0.063%Rate

Funding earned: −$13.19
Price spread: +0.063% → +0.034%: $2.94
Slippage, 4 orders: −$22.36
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$49.61
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Deribit: live order book, 34 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 Binance live order book, 8 min ago	2.33 bp	7.3 bp −$7	14.4 bp −$144	41.6 bp −$4,163	322.9 bp −$161.4K
Sell Deribit live order book, 34 min ago	8.85 bp	12.4 bp −$12	21.6 bp −$216	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	−0.523%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0379%	1h	2.1495	+0.012%	$74	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0261%	1h	2.1506	+0.063%	$405K	$65K	10x
Variational Omni TRUMP	−0.0258%	4h	2.1482	−0.048%	$663K	$421K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1492	−0.002%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0206%	4h	2.1490	−0.011%	$30.5M	$52.2M	50x	as long as short
Extended TRUMP-USD	−0.0200%	1h	2.1490	−0.013%	$74K	$496K	25x	as long as short
Binance TRUMPUSDTlong	−0.0198%	4h	2.1492	long leg	$60.8M	$249.3M	75x
OKX TRUMP-USDT-SWAP	−0.0197%	4h	2.1480	−0.058%	$26.8M	$183.8M	50x	as long as short
Lighter TRUMP	−0.0184%	1h	2.1495	+0.012%	$940K	$1.0M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0115%	8h	2.1489	−0.018%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0104%	4h	2.1510	+0.082%	$7.7M	$53.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0094%	4h	2.1498	+0.026%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0074%	4h	2.1490	−0.011%	$5K	$282K	10x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1507	+0.068%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1515	+0.106%	$41K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0012%	4h	2.1500	+0.035%	$4.1M	$10.8M	50x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1480	−0.058%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0042%	4h	2.1490	−0.011%	$4.2M	$688K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1500	+0.035%	$168K	$482K	50x	as long as short
Bitget TRUMPUSDT	+0.0072%	4h	2.1500	+0.035%	$15.4M	$27.0M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1524	+0.147%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1521	+0.134%	$404K	$776K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1514	+0.100%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1500	+0.035%	$400K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1502	+0.043%	$175K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1530	+0.175%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1510	+0.082%	$495K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1519	+0.123%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0300%	1h	2.1535	+0.198%	$383K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0597%	1h	2.1526	+0.158%	$1.3M	$2.3M	50x	as long as short