Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.016%

Price spread now: Binance against Lighter+0.279%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.117%−$12 on $10k

Price spread, last 4 days (all we have)−0.270%−$27 · spread now +0.279%, 7d avg +0.003%

Together, before fees−0.386%+ Points / potential airdropLighter: Season 3 · farm board−$39 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: Binance is 0.277% dearer against Lighter than usual: you sell high and buy low, +$28 on $10k if it goes back to its 7-day average of +0.003%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1958	0.0096	pay 0.0012% / 1h	37m 58s	$976K	$789K	10x
Short	Binance TRUMPUSDT	2.2019	0.0100	get 0.0050% / 4h	2h 37m	$63.9M	$236.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.279%Rate

Funding earned: $0.84
Price spread: +0.279% → +0.003%: $27.67
Slippage, 4 orders: −$20.84
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$2.33
Costs to cover: 0.308%
Break-even: 26.4 days

Slippage from Lighter: live order book, 27 min ago; Binance: 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, 27 min ago	2.46 bp	9.2 bp −$9	36.7 bp −$367	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	2.25 bp	7.2 bp −$7	15.1 bp −$151	42.1 bp −$4,211	208.7 bp −$104.3K

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	−0.1623%	1h	2.1980	+0.100%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2027	+0.313%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0023%	1h	2.1974	+0.073%	$414K	$80K	10x	as long as short
Gate TRUMP_USDT	−0.0018%	4h	2.1990	+0.146%	$7.8M	$48.8M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.444%	$28K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1995	+0.168%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2246	+1.312%	$108K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0077%	8h	2.2044	+0.390%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1980	+0.100%	$3K	$237K	10x	as long as short
SoDEX TRUMP-USD	+0.0094%	1h	2.1958	0.000%	$80	$6K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMPlong	+0.0096%	1h	2.1958	long leg	$976K	$789K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.2013	+0.250%	$14.7M	$7.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1976	+0.083%	$435K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2050	+0.419%	$190K	$57K	10x	as long as short
Binance TRUMPUSDTshort	+0.0100%	4h	2.2019	+0.279%	$63.9M	$236.3M	75x
Bybit TRUMPUSDT	+0.0100%	4h	2.2030	+0.328%	$31.5M	$48.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2050	+0.419%	$28.8M	$170.1M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2000	+0.191%	$438K	$145K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2020	+0.282%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2010	+0.237%	$15.7M	$24.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2072	+0.517%	$698K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2068	+0.501%	$181K	$4.7M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2010	+0.237%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2010	+0.237%	$564K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1990	+0.144%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1917	−0.185%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1991	+0.151%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0305%	1h	2.1984	+0.118%	$257K	$323K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+1.239%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1979	+0.095%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	+0.647%	$286K	$307K	50x	as long as short