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: Bitget against Lighter+0.078%7-day average +0.001% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$370.371% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.143%−$14 · spread now +0.078%, 7d avg +0.001%

Together, before fees−0.144%+ Points / potential airdropLighter: Season 3 · farm board−$14 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: Bitget is 0.078% dearer against Lighter than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.001%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1763	0.0096	pay 0.0012% / 1h	49m 14s	$973K	$715K	10x
Short	Bitget TRUMPUSDT	2.1780	0.0100	get 0.0050% / 4h	3h 49m	$15.6M	$22.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.078%Rate

Funding earned: $0.84
Price spread: +0.078% → +0.001%: $7.75
Slippage, 4 orders: −$25.09
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$28.5
Costs to cover: 0.371%
Break-even: 244.5 days

Slippage from Lighter: live order book, 21 min ago; Bitget: live order book, 5 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, 21 min ago	1.60 bp	5.8 bp −$6	25.4 bp −$254	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.30 bp	8.3 bp −$8	13.5 bp −$135	43.8 bp −$4,377	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	2.1650	−0.519%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1767	+0.017%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1747	−0.076%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1777	+0.064%	$408K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1766	+0.013%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1788	+0.114%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1770	+0.032%	$3K	$249K	10x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.1763	long leg	$973K	$715K	10x
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1756	−0.033%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1779	+0.073%	$454K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1768	+0.024%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1769	+0.029%	$62.4M	$226.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1770	+0.032%	$30.5M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1770	+0.032%	$26.9M	$152.5M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1770	+0.032%	$7.4M	$46.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1760	−0.014%	$472K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1770	+0.032%	$4.0M	$10.5M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1780	+0.078%	$15.6M	$22.2M	75x
Variational Omni TRUMP	+0.0100%	4h	2.1742	−0.098%	$636K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1800	+0.170%	$181K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1790	+0.124%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1775	+0.055%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1820	+0.262%	$551K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1770	+0.034%	$76K	$498K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1769	+0.029%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0209%	1h	2.1792	+0.133%	$14.1M	$7.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1771	+0.038%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1760	−0.014%	$4.2M	$625K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0410%	1h	2.1771	+0.037%	$256K	$283K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1760	−0.014%	$281K	$383K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0790%	1h	2.1801	+0.173%	$1.3M	$2.5M	50x	as long as short