Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0022%/8h= +2.4% APRpaid last 24h −0.016%

Price spread now: Lighter against Gate−0.083%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

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

costs, in and out, $10k−$440.444% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.032%−$3 on $10k

Price spread, last 4 days (all we have)+0.540%+$54 · spread now −0.083%, 7d avg −0.005%

Together, before fees+0.508%+ Points / potential airdropLighter: Season 3 · farm board+$51 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.078% cheaper against Gate than usual: you would sell low and buy high (spread −0.083% now, against its 7-day average of −0.005%). If the spread goes back, that is −$8 on $10k: about 12 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TRUMP_USDT	2.1740	−0.0062	get 0.0031% / 4h	1h 25m	$7.6M	$50.0M	75x
Short	Lighter TRUMP	2.1722	−0.0040	pay 0.0005% / 1h	25m 59s	$967K	$795K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now −0.083%Rate

Funding earned: $4.62
Price spread: −0.083% → −0.005%: −$7.76
Slippage, 4 orders: −$29.38
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$47.52
Costs to cover: 0.444%
Break-even: 79.0 days

Slippage from Gate: live order book, 3 min ago; Lighter: live order book, 34 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 Gate live order book, 3 min ago	2.30 bp	13.7 bp −$14	29.6 bp −$296	73.4 bp −$7,344	doesn't fit
Sell Lighter live order book, 34 min ago	1.60 bp	8.8 bp −$9	28.2 bp −$282	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	−0.1659%	1h	2.1620	−0.552%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1741	+0.004%	$5	—	10x	as long as short
Gate TRUMP_USDTlong	−0.0062%	4h	2.1740	long leg	$7.6M	$50.0M	75x
Lighter TRUMPshort	−0.0040%	1h	2.1722	−0.083%	$967K	$795K	10x
dYdX TRUMP-USD	0.0000%	1h	2.1736	−0.020%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1741	+0.005%	$409K	$72K	10x	as long as short
SoDEX TRUMP-USD	+0.0003%	1h	2.1730	−0.046%	$84	$6K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1745	+0.021%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0040%	8h	2.1726	−0.063%	$5K	$175	5x	as long as short
Bybit TRUMPUSDT	+0.0050%	4h	2.1740	0.000%	$31.0M	$48.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0050%	4h	2.1802	+0.284%	$106K	$262K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0073%	4h	2.1730	−0.046%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1765	+0.116%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1752	+0.056%	$430K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1740	+0.001%	$187K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1740	0.000%	$62.9M	$237.3M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1740	0.000%	$27.4M	$170.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1730	−0.046%	$417K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1750	+0.046%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1750	+0.046%	$15.5M	$25.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1721	−0.089%	$682K	$453K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1750	+0.047%	$177K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1760	+0.092%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1770	+0.138%	$533K	$1.9M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0103%	1h	2.1762	+0.101%	$255K	$319K	10x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1739	−0.004%	$115K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1718	−0.103%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1739	−0.002%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0288%	1h	2.1761	+0.098%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1700	−0.184%	$4.2M	$655K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1650	−0.414%	$280K	$297K	50x	as long as short