Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.015%

Price spread now: edgeX against Deribit−0.656%75s7-day average −0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.484% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 4 days (all we have)+0.586%+$59 · spread now −0.656%, 7d avg −0.043%

Together, before fees+0.698%+ Points / potential airdropedgeX: Active · farm board+$70 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and edgeX is 0.613% cheaper against Deribit than usual: you would sell low and buy high (−$61 if the spread goes back to its 7-day average of −0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.112%, so the current rate has only just turned against you. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1318	−0.0125	get 0.0016% / 1h	24m 09s	$401K	$72K	10x
Short	edgeX TRUMPUSDC	2.1178	−0.0135	pay 0.0067% / 4h	2h 24m	$103K	$263K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.656%Rate

Funding earned: −$2.06
Price spread: −0.656% → −0.043%: −$61.26
Slippage, 4 orders: −$32.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$111.69
Costs to cover: 0.484%
Break-even: never at this rate

Slippage from Deribit: live order book, 24 min ago; edgeX: live order book, 23 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, 24 min ago	6.27 bp	9.8 bp −$10	23.4 bp −$234	doesn't fit	doesn't fit
Sell edgeX live order book, 23 min ago	6.99 bp	14.4 bp −$14	40.4 bp −$404	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	−0.1827%	1h	2.1090	−1.070%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1283	−0.164%	$941K	$999K	10x	as long as short
SoDEX TRUMP-USD	−0.0413%	1h	2.1295	−0.108%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0335%	4h	2.1280	−0.178%	$30.0M	$51.6M	50x	as long as short
Binance TRUMPUSDT	−0.0274%	4h	2.1286	−0.148%	$60.0M	$249.8M	75x	as long as short
Extended TRUMP-USD	−0.0272%	1h	2.1299	−0.089%	$77K	$745K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1282	−0.171%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0224%	8h	2.1278	−0.186%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0202%	4h	2.1212	−0.500%	$654K	$426K	—	as long as short
Gate TRUMP_USDT	−0.0158%	4h	2.1280	−0.178%	$7.6M	$53.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDCshort	−0.0135%	4h	2.1178	−0.656%	$103K	$263K	20x
Deribit TRUMP_USDC-PERPETUALlong	−0.0125%	1h	2.1318	long leg	$401K	$72K	10x
OKX TRUMP-USDT-SWAP	−0.0070%	4h	2.1270	−0.225%	$26.7M	$180.0M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0048%	4h	2.1290	−0.131%	$5K	$223K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1215	−0.482%	$175K	$4.7M	10x	as long as short
BloFin TRUMP-USDT	−0.0034%	4h	2.1280	−0.178%	$4.1M	$686K	75x	as long as short
dYdX TRUMP-USD	−0.0019%	1h	2.1286	−0.149%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1304	−0.065%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1290	−0.131%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1290	−0.131%	$13.4M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1293	−0.119%	$400K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1270	−0.225%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1290	−0.131%	$396K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1290	−0.131%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1300	−0.084%	$15.2M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1330	+0.056%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1310	−0.038%	$478K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1308	−0.046%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0172%	1h	2.1318	0.000%	$379K	$411K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0199%	1h	2.1325	+0.032%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1210	−0.507%	$241K	$341K	50x	as long as short