Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.010%

Price spread now: edgeX against Lighter−0.121%109s7-day average +0.002% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.499% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.095%−$10 on $10k

Price spread, last 4 days (all we have)+0.205%+$21 · spread now −0.121%, 7d avg +0.002%

Together, before fees+0.110%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.123% cheaper against Lighter than usual: you would sell low and buy high (spread −0.121% now, against its 7-day average of +0.002%). If the spread goes back, that is −$12 on $10k: about 3.6 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −0.095%, so the current rate has only just turned in your favour. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1551	−0.0264	get 0.0033% / 1h	15m 47s	$932K	$979K	10x
Short	edgeX TRUMPUSDC	2.1525	−0.0149	pay 0.0074% / 4h	2h 15m	$105K	$254K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.121%Rate

Funding earned: $24.25
Price spread: −0.121% → +0.002%: −$12.3
Slippage, 4 orders: −$40.86
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$37.92
Costs to cover: 0.499%
Break-even: 17.9 days

Slippage from Lighter: live order book, 32 min ago; edgeX: 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 Lighter live order book, 32 min ago	1.87 bp	8.3 bp −$8	40.6 bp −$406	doesn't fit	doesn't fit
Sell edgeX live order book, 34 min ago	9.32 bp	17.0 bp −$17	43.1 bp −$431	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	+0.227%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0368%	4h	2.1560	+0.043%	$669K	$403K	—	as long as short
Bybit TRUMPUSDT	−0.0336%	4h	2.1560	+0.042%	$31.4M	$49.4M	50x	as long as short
SoDEX TRUMP-USD	−0.0328%	1h	2.1565	+0.065%	$67	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0328%	4h	2.1540	−0.051%	$27.3M	$177.0M	50x	as long as short
Binance TRUMPUSDT	−0.0299%	4h	2.1555	+0.018%	$63.3M	$241.5M	75x	as long as short
Extended TRUMP-USD	−0.0296%	1h	2.1548	−0.012%	$74K	$494K	25x	as long as short
Lighter TRUMPlong	−0.0264%	1h	2.1551	long leg	$932K	$979K	10x
Gate TRUMP_USDT	−0.0250%	4h	2.1560	+0.042%	$7.8M	$48.5M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1570	+0.090%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.144%	$133K	$516K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0213%	8h	2.1553	+0.009%	$5K	$175	5x	as long as short
edgeX TRUMPUSDCshort	−0.0149%	4h	2.1525	−0.121%	$105K	$254K	20x
Deribit TRUMP_USDC-PERPETUAL	−0.0121%	1h	2.1570	+0.088%	$387K	$78K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0118%	4h	2.1560	+0.042%	$4.2M	$10.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0094%	4h	2.1540	−0.051%	$393K	$151K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0077%	4h	2.1550	−0.005%	$5K	$311K	10x	as long as short
BloFin TRUMP-USDT	−0.0057%	4h	2.1570	+0.088%	$4.3M	$681K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1570	+0.088%	$15.4M	$25.6M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1576	+0.115%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1550	−0.005%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1584	+0.153%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0016%	1h	2.1590	+0.183%	$1.3M	$2.1M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0028%	4h	2.1537	−0.067%	$178K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1580	+0.135%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1580	+0.135%	$407K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1565	+0.065%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1590	+0.181%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1590	+0.181%	$497K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1570	+0.088%	$94K	$248K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0188% / S −0.0182%	1h	2.1578	+0.127%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0226%	1h	2.1601	+0.232%	$386K	$402K	10x	as long as short