Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0018%/8h= −2.0% APRpaid last 24h +0.041%

Price spread now: MEXC against Lighter−0.080%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$280.285% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 4 days (all we have)−0.115%−$12 · spread now −0.080%, 7d avg −0.044%

Together, before fees−0.256%+ Points / potential airdropLighter: Season 3 · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.035% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.044%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1367	−0.0248	get 0.0031% / 1h	53m 21s	$913K	$929K	10x
Short	MEXC TRUMP_USDC	2.1350	−0.0266	pay 0.0133% / 4h	53m 21s	$386K	$142K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$3.78
Price spread: −0.080% → −0.044%: −$3.52
Slippage, 4 orders: −$28.5
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$35.79
Costs to cover: 0.285%
Break-even: never at this rate

Slippage from Lighter: live order book, 50 min ago; MEXC: live order book, 44 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, 50 min ago	1.40 bp	8.1 bp −$8	31.8 bp −$318	doesn't fit	doesn't fit
Sell MEXC live order book, 44 min ago	2.34 bp	6.9 bp −$7	15.2 bp −$152	117.7 bp −$11.8K	doesn't fit

TRUMP on 32 exchanges

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
SoDEX TRUMP-USD	−0.0461%	1h	2.1395	+0.131%	$80	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0379%	4h	2.1380	+0.061%	$62.5M	$236.5M	75x	as long as short
Extended TRUMP-USD	−0.0376%	1h	2.1358	−0.043%	$74K	$483K	25x	as long as short
Variational Omni TRUMP	−0.0374%	4h	2.1409	+0.198%	$666K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0320%	4h	2.1370	+0.014%	$31.1M	$48.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1410	+0.201%	$128K	$521K	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0318%	4h	2.1370	+0.014%	$27.0M	$171.9M	50x	as long as short
MEXC TRUMP_USDCshort	−0.0266%	4h	2.1350	−0.080%	$386K	$142K	125x
Lighter TRUMPlong	−0.0248%	1h	2.1367	long leg	$913K	$929K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1364	−0.012%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0232%	4h	2.1390	+0.108%	$7.7M	$46.2M	75x	as long as short
KuCoin TRUMPUSDTM	−0.0226%	4h	2.1370	+0.014%	$4.3M	$10.1M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0217%	1h	2.1403	+0.168%	$384K	$79K	10x	as long as short
edgeX TRUMPUSDC	−0.0187%	4h	2.1416	+0.231%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0163%	8h	2.1362	−0.023%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0135%	4h	2.1430	+0.295%	$4.3M	$658K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0091%	4h	2.1380	+0.061%	$5K	$292K	10x	as long as short
Bitget TRUMPUSDT	−0.0032%	4h	2.1370	+0.014%	$15.5M	$24.7M	75x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1381	+0.067%	$19K	—	3x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1394	+0.127%	$25K	$3K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1395	+0.133%	$40K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0014%	4h	2.1427	+0.281%	$179K	$4.0M	10x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	−0.080%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1384	+0.080%	$13.5M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1378	+0.053%	$403K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1381	+0.066%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1430	+0.295%	$1K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1420	+0.248%	$486K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1420	+0.248%	$269K	$597K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0202%	1h	2.1422	+0.257%	$382K	$391K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0219%	1h	2.1414	+0.221%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0327%	1h	2.1435	+0.317%	$1.4M	$2.1M	50x	as long as short