Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0176%/8h= +19.3% APRpaid last 24h +0.028%

Price spread now: KuCoin against Lighter+0.116%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$490.492% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 4 days (all we have)−0.525%−$53 · spread now +0.116%, 7d avg +0.019%

Together, before fees−0.537%+ Points / potential airdropLighter: Season 3 · farm board−$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and KuCoin is 0.096% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.019%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1635	−0.0216	get 0.0027% / 1h	20m 14s	$946K	$993K	10x
Short	KuCoin TRUMPUSDTM	2.1660	−0.0040	pay 0.0020% / 4h	3h 20m	$4.2M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.116%Rate

Funding earned: $36.96
Price spread: +0.116% → +0.019%: $9.61
Slippage, 4 orders: −$37.17
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$2.6
Costs to cover: 0.492%
Break-even: 7.5 days

Slippage from Lighter: live order book, 35 min ago; KuCoin: live order book, 8 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, 35 min ago	1.86 bp	6.3 bp −$6	31.7 bp −$317	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	2.33 bp	17.2 bp −$17	95.0 bp −$950	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	−0.1829%	1h	2.1350	−1.317%	$12K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0317%	4h	2.1682	+0.217%	$673K	$419K	—	as long as short
Bybit TRUMPUSDT	−0.0303%	4h	2.1660	+0.116%	$31.2M	$51.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0259%	1h	2.1665	+0.139%	$70	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0248%	4h	2.1650	+0.069%	$27.2M	$183.1M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1647	+0.055%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0225%	4h	2.1657	+0.102%	$63.3M	$247.8M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1655	+0.092%	$74K	$492K	25x	as long as short
Lighter TRUMPlong	−0.0216%	1h	2.1635	long leg	$946K	$993K	10x
Deribit TRUMP_USDC-PERPETUAL	−0.0165%	1h	2.1673	+0.176%	$392K	$76K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1640	+0.023%	$144K	$513K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0130%	8h	2.1671	+0.165%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0117%	4h	2.1605	−0.138%	$105K	$253K	20x	as long as short
Gate TRUMP_USDT	−0.0100%	4h	2.1670	+0.162%	$7.8M	$50.5M	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0088%	4h	2.1670	+0.162%	$5K	$304K	10x	as long as short
KuCoin TRUMPUSDTMshort	−0.0040%	4h	2.1660	+0.116%	$4.2M	$10.6M	50x
dYdX TRUMP-USD	−0.0015%	1h	2.1690	+0.253%	$26K	$2K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1675	+0.185%	$41K	—	150x	as long as short
Bitget TRUMPUSDT	+0.0012%	4h	2.1660	+0.116%	$15.4M	$26.3M	75x	as long as short
BloFin TRUMP-USDT	+0.0014%	4h	2.1710	+0.347%	$4.3M	$693K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1652	+0.080%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0074%	4h	2.1650	+0.069%	$402K	$150K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1672	+0.171%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1668	+0.152%	$412K	$679K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1678	+0.199%	$186K	$54K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1650	+0.069%	$178K	$4.2M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1700	+0.300%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1670	+0.162%	$501K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0120%	1h	2.1693	+0.266%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0170% / S −0.0143%	1h	2.1669	+0.157%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0381%	1h	2.1729	+0.434%	$385K	$422K	10x	as long as short