Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Bybit against Deribit−0.027%7-day average −0.038% · 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−$49as in the Price arb table

costs, in and out, $10k−$500.498% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 3 days (all we have)−0.044%−$4 · spread now −0.027%, 7d avg −0.038%

Together, before fees+0.139%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.038%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1836	0	get 0.0000% / 1h	32m 13s	$409K	$78K	10x
Short	Bybit TRUMPUSDT	2.1830	0.0100	get 0.0050% / 4h	3h 32m	$30.4M	$41.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now −0.027%Rate

Funding earned: $21
Price spread: −0.027% → −0.038%: $1.04
Slippage, 4 orders: −$31.82
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$27.78
Costs to cover: 0.498%
Break-even: 16.3 days

Slippage from Deribit: live order book, 17 min ago; Bybit: live order book, 2 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 Deribit live order book, 17 min ago	9.52 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	2.30 bp	11.4 bp −$11	19.0 bp −$190	151.9 bp −$15.2K	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	−0.1885%	1h	2.1710	−0.577%	$13K	$77K	12x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0348%	1h	2.1841	+0.022%	$1.0M	$2.1M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1804	−0.145%	$5	—	10x	as long as short
Lighter TRUMP	−0.0080%	1h	2.1814	−0.101%	$971K	$619K	10x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1839	+0.015%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1836	long leg	$409K	$78K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1820	−0.074%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0032%	4h	2.1776	−0.273%	$118K	$243K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0050%	8h	2.1815	−0.097%	$5K	—	5x	as long as short
MEXC TRUMP_USDC	+0.0066%	4h	2.1790	−0.211%	$479K	$134K	125x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TRUMPUSDT	+0.0069%	4h	2.1823	−0.059%	$63.1M	$211.6M	75x	as long as short
Extended TRUMP-USD	+0.0072%	1h	2.1822	−0.064%	$75K	$473K	25x	as long as short
SoDEX TRUMP-USD	+0.0073%	1h	2.1820	−0.073%	$72	$6K	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1820	−0.073%	$3K	$249K	10x	as long as short
Variational Omni TRUMP	+0.0089%	4h	2.1795	−0.186%	$677K	$231K	—	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1825	−0.050%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1840	+0.018%	$14.0M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1820	−0.074%	$445K	$842K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1833	−0.012%	$188K	$60K	10x	as long as short
Bybit TRUMPUSDTshort	+0.0100%	4h	2.1830	−0.027%	$30.4M	$41.5M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1810	−0.119%	$26.9M	$146.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1810	−0.119%	$7.4M	$45.6M	75x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1830	−0.027%	$4.8M	$9.9M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1820	−0.073%	$15.3M	$20.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1784	−0.237%	$182K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1850	+0.064%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1830	−0.027%	$504K	$1.6M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0168%	1h	2.1840	+0.018%	$258K	$263K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1820	−0.075%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0277%	4h	2.1790	−0.211%	$4.2M	$479K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1550	−1.310%	$277K	$398K	50x	as long as short