TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.1704%/8h= −186.6% APRnext payment −$2.13 per $10,000 · paid last 24h −0.501%

Price spread now: Injective against Lighter−1.142%7-day average −0.031% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$223as in the Price arb table

costs, in and out, $10k−$1121.124% of the position

Long on Lighter Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.466%−$47 on $10k

Price spread, last 3 days (all we have)+1.185%+$119 · spread now −1.142%, 7d avg −0.031%

Together, before fees+0.720%+ Points / potential airdropLighter: Season 3 · farm board+$72 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$51 a day on $10k at the current rate, and Injective is 1.110% cheaper against Lighter than usual: you would sell low and buy high (−$111 if the spread goes back to its 7-day average of −0.031%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.466% in total (about -24.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.13 per $10,000. 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	2.2163	0.0096	pay 0.0012% / 1h	24m 22s	$984K	$777K	10x
Short	Injective TRUMP/USDC PERP	2.1910	−0.1608	pay 0.0201% / 1h	24m 22s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.142%Rate

Funding earned: −$357.77
Price spread: −1.142% → −0.031%: −$111.03
Slippage, 4 orders: −$112.38
Fee Lighter: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$581.2
Costs to cover: 1.124%
Break-even: never at this rate

Slippage from Lighter: live order book, 46 min ago; Injective: live order book, 35 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, 46 min ago	1.60 bp	5.8 bp −$6	25.4 bp −$254	doesn't fit	doesn't fit
Sell Injective live order book, 35 min ago	41.26 bp	41.3 bp −$41	doesn't fit	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 PERPshort	−0.1608%	1h	2.1910	−1.142%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2172	+0.039%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2176	+0.061%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2138	−0.113%	$415K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2185	+0.101%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2029	−0.605%	$120K	$249K	20x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.2163	long leg	$984K	$777K	10x
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2180	+0.077%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2173	+0.047%	$5K	$175	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2180	+0.076%	$462K	$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	2.2172	+0.043%	$191K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2180	+0.077%	$63.4M	$222.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2180	+0.077%	$31.1M	$44.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2180	+0.077%	$27.5M	$155.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2170	+0.032%	$7.7M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2170	+0.032%	$480K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2190	+0.122%	$4.4M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2190	+0.122%	$16.2M	$22.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2101	−0.278%	$707K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2052	−0.499%	$184K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2140	−0.104%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2148	−0.068%	$75	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2170	+0.032%	$560K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2175	+0.054%	$79K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2170	+0.032%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0163%	1h	2.2207	+0.199%	$14.4M	$6.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2188	+0.114%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2170	+0.032%	$4.2M	$632K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0462%	1h	2.2197	+0.153%	$282K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1790	−1.683%	$283K	$271K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0777%	1h	2.2174	+0.052%	$1.3M	$2.5M	50x	as long as short