Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0244%/8h= −26.7% APRpaid last 24h −0.084%

Price spread now: Lighter against BloFin−0.036%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.300%−$30 on $10k

Price spread, last 3 days (all we have)+0.071%+$7 · spread now −0.036%, 7d avg −0.012%

Together, before fees−0.229%+ Points / potential airdropLighter: Season 3 · farm board−$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.024% cheaper against BloFin than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TRUMP-USDT	2.2240	0.0340	pay 0.0170% / 4h	3h 23m	$4.2M	$643K	75x
Short	Lighter TRUMP	2.2232	0.0096	get 0.0012% / 1h	23m 22s	$987K	$777K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$51.24
Price spread: −0.036% → −0.012%: −$2.36
Slippage, 4 orders: −$29.79
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$95.39
Costs to cover: 0.418%
Break-even: never at this rate

Slippage from BloFin: live order book, 5 min ago; Lighter: live order book, 47 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 BloFin live order book, 5 min ago	6.81 bp	12.8 bp −$13	16.8 bp −$168	44.2 bp −$4,424	211.7 bp −$105.8K
Sell Lighter live order book, 47 min ago	1.60 bp	10.4 bp −$10	33.6 bp −$336	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	2.1910	−1.484%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2222	−0.083%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2209	−0.137%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2234	−0.027%	$417K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2235	−0.020%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2107	−0.597%	$120K	$249K	20x	as long as short
Lighter TRUMPshort	+0.0096%	1h	2.2232	−0.036%	$987K	$777K	10x
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2230	−0.045%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2214	−0.118%	$5K	$175	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2225	−0.065%	$463K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2209	−0.139%	$191K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2234	−0.026%	$63.6M	$222.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2230	−0.045%	$31.2M	$44.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2230	−0.045%	$27.6M	$155.8M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2250	+0.045%	$7.7M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2240	0.000%	$482K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2250	+0.045%	$4.5M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2240	0.000%	$16.2M	$22.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2101	−0.623%	$707K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2167	−0.330%	$182K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2250	+0.045%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2235	−0.022%	$77	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2290	+0.225%	$563K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2230	−0.044%	$79K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2218	−0.097%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0163%	1h	2.2257	+0.076%	$14.4M	$6.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2237	−0.014%	$10K	—	100x	as long as short
BloFin TRUMP-USDTlong	+0.0340%	4h	2.2240	long leg	$4.2M	$643K	75x
Backpack TRUMP_USDC_PERP	+0.0472%	1h	2.2205	−0.157%	$282K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2280	+0.180%	$290K	$277K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0774%	1h	2.2263	+0.103%	$1.3M	$2.5M	50x	as long as short