Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0127%/8h= +13.9% APRpaid last 24h +0.042%

Price spread now: HTX against Deribit+0.152%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$610.614% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.331%+$33 on $10k

Price spread, last 4 days (all we have)−0.181%−$18 · spread now +0.152%, 7d avg +0.062%

Together, before fees+0.150%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and HTX is 0.090% dearer against Deribit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1667	−0.0027	get 0.0003% / 1h	2m 57s	$389K	$80K	10x
Short	HTX TRUMP-USDT	2.1700	0.0100	get 0.0050% / 4h	2h 02m	$499K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.152%Rate

Funding earned: $26.64
Price spread: +0.152% → +0.062%: $9.01
Slippage, 4 orders: −$42.37
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$25.73
Costs to cover: 0.614%
Break-even: 13.8 days

Slippage from Deribit: live order book, 48 min ago; HTX: live order book, 4 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, 48 min ago	5.58 bp	15.1 bp −$15	25.1 bp −$251	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	4.63 bp	21.6 bp −$22	107.8 bp −$1,078	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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	−0.1841%	1h	2.1600	−0.309%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0357%	4h	2.1610	−0.263%	$670K	$402K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0319%	4h	2.1620	−0.217%	$27.4M	$175.4M	50x	as long as short
Bybit TRUMPUSDT	−0.0316%	4h	2.1640	−0.125%	$31.5M	$48.9M	50x	as long as short
Extended TRUMP-USD	−0.0304%	1h	2.1638	−0.133%	$75K	$496K	25x	as long as short
Binance TRUMPUSDT	−0.0303%	4h	2.1634	−0.154%	$63.6M	$239.4M	75x	as long as short
SoDEX TRUMP-USD	−0.0280%	1h	2.1655	−0.055%	$71	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1620	−0.218%	$5	—	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.678%	$132K	$517K	50x	as long as short
Gate TRUMP_USDT	−0.0216%	4h	2.1650	−0.078%	$7.8M	$48.6M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0200%	1h	2.1658	−0.042%	$934K	$982K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0184%	8h	2.1627	−0.182%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0150%	4h	2.1642	−0.115%	$106K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0124%	4h	2.1640	−0.125%	$4.3M	$10.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0120%	4h	2.1630	−0.171%	$394K	$152K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0079%	4h	2.1620	−0.217%	$5K	$308K	10x	as long as short
BloFin TRUMP-USDT	−0.0063%	4h	2.1680	+0.060%	$4.3M	$679K	75x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0027%	1h	2.1667	long leg	$389K	$80K	10x
Bitget TRUMPUSDT	−0.0012%	4h	2.1660	−0.032%	$15.5M	$25.3M	75x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1644	−0.106%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1645	−0.102%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1644	−0.105%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0015%	1h	2.1683	+0.073%	$1.3M	$2.0M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0048%	4h	2.1624	−0.199%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1655	−0.054%	$13.7M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1659	−0.036%	$408K	$644K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1640	−0.125%	$186K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1650	−0.078%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1700	+0.152%	$499K	$2.4M	50x
Phemex TRUMPUSDT	+0.0100%	4h	2.1680	+0.060%	$125K	$307K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0192% / S −0.0187%	1h	2.1639	−0.130%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0267%	1h	2.1673	+0.028%	$384K	$401K	10x	as long as short