Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.018%

Price spread now: Aster against Lighter+0.118%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$350.354% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.118%, 7d avg +0.026%

Together, before fees−0.122%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Aster is 0.092% dearer against Lighter than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.2164	0.0096	pay 0.0012% / 1h	1m 56s	$983K	$783K	10x
Short	Aster TRUMPUSDT	2.2190	0.0100	get 0.0050% / 4h	3h 01m	$463K	$837K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.118%Rate

Funding earned: $0.84
Price spread: +0.118% → +0.026%: $9.19
Slippage, 4 orders: −$27.37
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$25.35
Costs to cover: 0.354%
Break-even: 218.2 days

Slippage from Lighter: live order book, 3 min ago; Aster: live order book, 6 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 Lighter live order book, 3 min ago	2.46 bp	9.2 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell Aster live order book, 6 min ago	4.45 bp	9.7 bp −$10	22.7 bp −$227	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	−0.1608%	1h	2.2180	+0.072%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2161	−0.012%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2216	+0.235%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2185	+0.095%	$416K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2195	+0.139%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2432	+1.209%	$109K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0083%	8h	2.2167	+0.012%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0093%	4h	2.2180	+0.072%	$3K	$249K	10x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.2164	long leg	$983K	$783K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.2180	+0.072%	$14.4M	$6.6M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDTshort	+0.0100%	4h	2.2190	+0.118%	$463K	$837K	20x
Pacifica TRUMP	+0.0100%	1h	2.2231	+0.302%	$193K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2150	−0.063%	$64.1M	$230.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2130	−0.153%	$31.4M	$46.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2120	−0.199%	$28.8M	$163.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2160	−0.018%	$7.9M	$49.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2130	−0.153%	$477K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2150	−0.063%	$4.2M	$10.8M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2150	−0.063%	$16.0M	$23.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2321	+0.708%	$710K	$441K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2373	+0.943%	$184K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2180	+0.072%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2155	−0.041%	$82	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2220	+0.253%	$576K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2130	−0.154%	$79K	$595K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2237	+0.330%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2195	+0.139%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2210	+0.208%	$4.3M	$675K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0444%	1h	2.2170	+0.027%	$259K	$305K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2230	+0.298%	$292K	$286K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0777%	1h	2.2182	+0.081%	$1.3M	$2.6M	50x	as long as short