Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h +0.016%

Price spread now: Gate against Lighter+0.087%7-day average +0.005% · 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−$36as in the Price arb table

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

Long on Lighter Short on Gate

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)−0.544%−$54 · spread now +0.087%, 7d avg +0.005%

Together, before fees−0.513%+ Points / potential airdropLighter: Season 3 · farm board−$51 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.082% dearer against Lighter than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of +0.005%): +$8 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1721	−0.0024	get 0.0003% / 1h	27m 59s	$967K	$795K	10x
Short	Gate TRUMP_USDT	2.1740	−0.0074	pay 0.0037% / 4h	1h 27m	$7.6M	$50.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.087%Rate

Funding earned: −$10.5
Price spread: +0.087% → +0.005%: $8.23
Slippage, 4 orders: −$29.38
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$46.65
Costs to cover: 0.444%
Break-even: never at this rate

Slippage from Lighter: live order book, 32 min ago; Gate: live order book, 1 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	1.60 bp	8.6 bp −$9	28.2 bp −$282	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.30 bp	13.3 bp −$13	25.5 bp −$255	62.7 bp −$6,266	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	2.1710	−0.051%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1741	+0.090%	$5	—	10x	as long as short
Gate TRUMP_USDTshort	−0.0074%	4h	2.1740	+0.087%	$7.6M	$50.0M	75x
Lighter TRUMPlong	−0.0024%	1h	2.1721	long leg	$967K	$795K	10x
dYdX TRUMP-USD	0.0000%	1h	2.1764	+0.199%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1735	+0.064%	$409K	$72K	10x	as long as short
SoDEX TRUMP-USD	+0.0008%	1h	2.1725	+0.018%	$84	$6K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1754	+0.152%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0040%	8h	2.1731	+0.045%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1761	+0.183%	$106K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	+0.0053%	4h	2.1710	−0.051%	$31.0M	$48.4M	50x	as long as short
Orderly PERP_TRUMP_USDC	+0.0074%	4h	2.1730	+0.041%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1755	+0.157%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1744	+0.105%	$430K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1755	+0.156%	$187K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1724	+0.012%	$62.9M	$237.5M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1720	−0.005%	$27.4M	$170.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1720	−0.005%	$423K	$144K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1750	+0.134%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1730	+0.041%	$15.5M	$25.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1831	+0.504%	$685K	$453K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1840	+0.549%	$178K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1780	+0.272%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1780	+0.272%	$533K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1714	−0.032%	$115K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1715	−0.028%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0110%	1h	2.1760	+0.180%	$255K	$320K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1757	+0.166%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0288%	1h	2.1759	+0.174%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1760	+0.180%	$4.2M	$657K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1650	−0.327%	$280K	$297K	50x	as long as short