Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.031%

Price spread now: Deribit against OKX+0.041%7-day average +0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.228%−$23 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now +0.041%, 7d avg +0.054%

Together, before fees−0.266%−$27 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.054%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRUMP-USDT-SWAP	2.1920	0.0100	pay 0.0050% / 4h	2h 14m	$28.6M	$171.2M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1929	0	get 0.0000% / 1h	14m 52s	$413K	$80K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.041%Rate

Funding earned: −$21
Price spread: +0.041% → +0.054%: −$1.26
Slippage, 4 orders: −$49.42
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$88.68
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Deribit: live order book, 54 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 OKX live order book, 4 min ago	2.27 bp	7.3 bp −$7	12.0 bp −$120	49.7 bp −$4,970	doesn't fit
Sell Deribit live order book, 54 min ago	8.90 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1890	−0.137%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1911	−0.040%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0074%	4h	2.1910	−0.046%	$7.8M	$49.5M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1896	−0.111%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1929	+0.041%	$413K	$80K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1925	+0.022%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1945	+0.114%	$107K	$263K	20x	as long as short
Lighter TRUMP	+0.0064%	1h	2.1914	−0.027%	$975K	$792K	10x	as long as short
SoDEX TRUMP-USD	+0.0067%	1h	2.1925	+0.023%	$77	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0070%	8h	2.1889	−0.141%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1920	0.000%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1946	+0.119%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1914	−0.027%	$433K	$859K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1897	−0.105%	$189K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1920	0.000%	$63.6M	$236.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1910	−0.046%	$31.5M	$48.6M	50x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.1920	long leg	$28.6M	$171.2M	50x
MEXC TRUMP_USDC	+0.0100%	4h	2.1900	−0.091%	$435K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1920	0.000%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1930	+0.046%	$15.7M	$24.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1871	−0.224%	$689K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1996	+0.348%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1950	+0.137%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1940	+0.091%	$556K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1910	−0.047%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1915	−0.023%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1927	+0.032%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0264%	1h	2.1932	+0.055%	$257K	$322K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1949	+0.132%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.1880	−0.182%	$284K	$303K	50x	as long as short