Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0468%/8h= +51.2% APRpaid last 24h +0.024%

Price spread now: HTX against Lighter+0.190%7-day average +0.099% · 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−$43as in the Price arb table

costs, in and out, $10k−$520.521% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.116%+$12 on $10k

Price spread, last 4 days (all we have)−0.209%−$21 · spread now +0.190%, 7d avg +0.099%

Together, before fees−0.093%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and HTX is 0.091% dearer against Lighter than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.099%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.116% in total (about 6.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1529	−0.0368	get 0.0046% / 1h	9m 11s	$951K	$1.0M	10x
Short	HTX TRUMP-USDT	2.1570	0.0100	get 0.0050% / 4h	2h 09m	$484K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.190%Rate

Funding earned: $98.28
Price spread: +0.190% → +0.099%: $9.11
Slippage, 4 orders: −$40.14
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: $55.25
Costs to cover: 0.521%
Break-even: 3.1 days

Slippage from Lighter: live order book, 1 min ago; HTX: 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, 1 min ago	0.93 bp	4.8 bp −$5	33.6 bp −$336	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	9.30 bp	18.9 bp −$19	48.0 bp −$480	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	−0.1827%	1h	2.1480	−0.228%	$13K	$157K	12x	as long as short
Lighter TRUMPlong	−0.0368%	1h	2.1529	long leg	$951K	$1.0M	10x
SoDEX TRUMP-USD	−0.0319%	1h	2.1545	+0.074%	$82	$6K	5x	as long as short
Extended TRUMP-USD	−0.0280%	1h	2.1539	+0.046%	$74K	$739K	25x	as long as short
Binance TRUMPUSDT	−0.0278%	4h	2.1534	+0.024%	$60.7M	$251.0M	75x	as long as short
Bybit TRUMPUSDT	−0.0254%	4h	2.1540	+0.051%	$30.5M	$52.0M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	+0.197%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0193%	4h	2.1511	−0.083%	$664K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0179%	8h	2.1591	+0.289%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0167%	1h	2.1557	+0.130%	$406K	$72K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0139%	4h	2.1508	−0.099%	$105K	$264K	20x	as long as short
Gate TRUMP_USDT	−0.0116%	4h	2.1550	+0.098%	$7.7M	$53.7M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0083%	4h	2.1530	+0.005%	$26.7M	$184.6M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0062%	4h	2.1570	+0.190%	$5K	$233K	10x	as long as short
BloFin TRUMP-USDT	−0.0038%	4h	2.1540	+0.051%	$4.1M	$690K	75x	as long as short
dYdX TRUMP-USD	−0.0017%	1h	2.1600	+0.330%	$27K	$501	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1535	+0.028%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1583	+0.251%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0018%	4h	2.1520	−0.042%	$182K	$4.7M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1549	+0.093%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1546	+0.077%	$405K	$772K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1609	+0.370%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	+0.098%	$402K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1570	+0.190%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1540	+0.051%	$15.4M	$26.8M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.237%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1570	+0.190%	$484K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1587	+0.271%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1565	+0.167%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0260%	1h	2.1568	+0.181%	$384K	$412K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1520	−0.042%	$238K	$363K	50x	as long as short