Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.029%

Price spread now: Lighter against Bybit−0.023%7-day average −0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.029%+$3 on $10k

Price spread, last 4 days (all we have)−0.006%−$1 · spread now −0.023%, 7d avg −0.002%

Together, before fees+0.022%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.022% cheaper against Bybit than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of −0.002%). If the spread goes back, that is −$2 on $10k: about 2.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.029% in total) that is about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.1480	−0.0225	get 0.0112% / 4h	2m 41s	$30.5M	$52.2M	50x
Short	Lighter TRUMP	2.1475	−0.0192	pay 0.0024% / 1h	2m 41s	$939K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.023%Rate

Funding earned: $6.85
Price spread: −0.023% → −0.002%: −$2.15
Slippage, 4 orders: −$23.7
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$29.99
Costs to cover: 0.347%
Break-even: 37.6 days

Slippage from Bybit: live order book, 1 min ago; Lighter: 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 Bybit live order book, 1 min ago	2.33 bp	12.4 bp −$12	17.7 bp −$177	91.3 bp −$9,135	doesn't fit
Sell Lighter live order book, 3 min ago	1.63 bp	9.0 bp −$9	33.2 bp −$332	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	2.1350	−0.605%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0403%	1h	2.1455	−0.116%	$74	$6K	5x	as long as short
Variational Omni TRUMP	−0.0258%	4h	2.1482	+0.010%	$663K	$421K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1432	−0.223%	$5	—	10x	as long as short
Bybit TRUMPUSDTlong	−0.0225%	4h	2.1480	long leg	$30.5M	$52.2M	50x
Deribit TRUMP_USDC-PERPETUAL	−0.0216%	1h	2.1466	−0.065%	$404K	$65K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0206%	4h	2.1480	0.000%	$26.8M	$183.8M	50x	as long as short
Binance TRUMPUSDT	−0.0205%	4h	2.1481	+0.007%	$60.7M	$249.0M	75x	as long as short
Extended TRUMP-USD	−0.0200%	1h	2.1470	−0.047%	$74K	$492K	25x	as long as short
Lighter TRUMPshort	−0.0192%	1h	2.1475	−0.023%	$939K	$1.0M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0127%	8h	2.1478	−0.007%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0106%	4h	2.1480	0.000%	$7.7M	$53.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0094%	4h	2.1498	+0.084%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0078%	4h	2.1450	−0.140%	$5K	$284K	10x	as long as short
dYdX TRUMP-USD	−0.0014%	1h	2.1497	+0.079%	$27K	$501	5x	as long as short
KuCoin TRUMPUSDTM	−0.0002%	4h	2.1480	0.000%	$4.1M	$10.8M	50x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1466	−0.067%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1440	−0.188%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0040%	4h	2.1480	0.000%	$4.1M	$688K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1420	−0.279%	$167K	$480K	50x	as long as short
Bitget TRUMPUSDT	+0.0064%	4h	2.1490	+0.047%	$15.4M	$27.0M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1499	+0.088%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1503	+0.106%	$403K	$776K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1486	+0.028%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1490	+0.047%	$400K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1502	+0.101%	$175K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1470	−0.047%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1460	−0.093%	$493K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1470	−0.046%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0290%	1h	2.1502	+0.102%	$382K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0598%	1h	2.1486	+0.026%	$1.3M	$2.3M	50x	as long as short