Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.018%

Price spread now: Lighter against OKX+0.059%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.001%$0 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.059%, 7d avg +0.016%

Together, before fees−0.041%+ Points / potential airdropLighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.043% dearer against OKX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRUMP-USDT-SWAP	2.2220	0.0100	pay 0.0050% / 4h	3h 21m	$27.7M	$156.0M	50x
Short	Lighter TRUMP	2.2233	0.0096	get 0.0012% / 1h	21m 43s	$987K	$777K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$0.84
Price spread: +0.059% → +0.016%: $4.3
Slippage, 4 orders: −$20.67
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$27.22
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Lighter: live order book, 49 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, 2 min ago	2.25 bp	7.3 bp −$7	11.7 bp −$117	50.4 bp −$5,043	doesn't fit
Sell Lighter live order book, 49 min ago	1.60 bp	10.4 bp −$10	33.6 bp −$336	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	−0.1608%	1h	2.1910	−1.395%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2212	−0.038%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2246	+0.118%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2259	+0.176%	$417K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2229	+0.040%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2107	−0.508%	$120K	$249K	20x	as long as short
Lighter TRUMPshort	+0.0096%	1h	2.2233	+0.059%	$987K	$777K	10x
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2250	+0.135%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0097%	8h	2.2248	+0.125%	$5K	$175	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2260	+0.180%	$463K	$837K	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	2.2245	+0.112%	$192K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2230	+0.045%	$63.6M	$222.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2230	+0.045%	$31.2M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.2220	long leg	$27.7M	$156.0M	50x
Gate TRUMP_USDT	+0.0100%	4h	2.2240	+0.090%	$7.7M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2220	0.000%	$482K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2250	+0.135%	$4.5M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2230	+0.045%	$16.3M	$22.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2101	−0.534%	$707K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2167	−0.240%	$182K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2270	+0.225%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2255	+0.158%	$77	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2290	+0.315%	$563K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2240	+0.090%	$79K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2227	+0.032%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0159%	1h	2.2253	+0.149%	$14.4M	$6.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2231	+0.048%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2240	+0.090%	$4.2M	$643K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0477%	1h	2.2277	+0.257%	$283K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2280	+0.270%	$290K	$277K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0773%	1h	2.2280	+0.270%	$1.3M	$2.5M	50x	as long as short