TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0237%/8h= +25.9% APRnext payment +$0.30 per $10,000 · paid last 24h +0.017%

Price spread now: Kraken Futures against Lighter+0.196%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 4 days (all we have)−0.174%−$17 · spread now +0.196%, 7d avg +0.081%

Together, before fees−0.333%+ Points / potential airdropLighter: Season 3 · farm board−$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.115% dearer against Lighter than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.081%. Mind the row above: over the last 7 days funding on this pair cost −0.159%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.159% in total (about -8.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.30 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	2.1606	−0.0064	get 0.0008% / 1h	5m 26s	$955K	$977K	10x
Short	Kraken Futures PF_TRUMPUSD	2.1648	0.0173	get 0.0022% / 1h	5m 26s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.196%Rate

Funding earned: $49.74
Price spread: +0.196% → +0.081%: $11.5
Slippage, 4 orders: −$37.56
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $13.67
Costs to cover: 0.476%
Break-even: 5.1 days

Slippage from Lighter: live order book, 45 min ago; Kraken Futures: live order book, 3 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, 45 min ago	0.92 bp	6.2 bp −$6	33.2 bp −$332	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.63 bp	17.7 bp −$18	36.5 bp −$365	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	−0.1765%	1h	2.1520	−0.398%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0374%	1h	2.1615	+0.042%	$84	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1601	−0.022%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0244%	8h	2.1617	+0.053%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0166%	1h	2.1630	+0.111%	$407K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0155%	4h	2.1600	−0.028%	$61.1M	$246.3M	75x	as long as short
Extended TRUMP-USD	−0.0152%	1h	2.1592	−0.065%	$77K	$718K	25x	as long as short
Bybit TRUMPUSDT	−0.0141%	4h	2.1610	+0.019%	$30.8M	$50.6M	50x	as long as short
Gate TRUMP_USDT	−0.0102%	4h	2.1610	+0.019%	$7.9M	$52.5M	75x	as long as short
edgeX TRUMPUSDC	−0.0069%	4h	2.1588	−0.082%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMPlong	−0.0064%	1h	2.1606	long leg	$955K	$977K	10x
Variational Omni TRUMP	−0.0058%	4h	2.1621	+0.070%	$668K	$437K	—	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1626	+0.093%	$27K	$512	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0002%	4h	2.1610	+0.019%	$5K	$199K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1625	+0.088%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0012%	4h	2.1626	+0.094%	$180K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1598	−0.035%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0066%	4h	2.1600	−0.028%	$27.7M	$179.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0088%	4h	2.1600	−0.028%	$4.2M	$650K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1622	+0.074%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1608	+0.008%	$407K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1633	+0.123%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1600	−0.028%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1600	−0.028%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1610	+0.019%	$15.6M	$26.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1630	+0.111%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1660	+0.250%	$493K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1630	+0.109%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0173%	1h	2.1648	+0.196%	$1.3M	$2.3M	50x
Backpack TRUMP_USDC_PERP	+0.0197%	1h	2.1655	+0.227%	$384K	$402K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1640	+0.157%	$283K	$277K	50x	as long as short