Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0110%/8h= −12.1% APRpaid last 24h −0.029%

Price spread now: Deribit against Orderly−0.027%7-day average +0.045% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.193%−$19 on $10k

Price spread, last 3 days (all we have)+0.022%+$2 · spread now −0.027%, 7d avg +0.045%

Together, before fees−0.170%−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.072% cheaper against Orderly than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TRUMP_USDC	2.1980	0.0087	pay 0.0044% / 4h	2h 38m	$3K	$237K	10x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1974	−0.0023	pay 0.0003% / 1h	38m 00s	$414K	$80K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Orderly. 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 OrderlybpFee DeribitbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$23.16
Price spread: −0.027% → +0.045%: −$7.18
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$43.35
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 31 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Deribit live order book, 31 min ago	8.90 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1623%	1h	2.1980	0.000%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2027	+0.212%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0023%	1h	2.1974	−0.027%	$414K	$80K	10x
Gate TRUMP_USDT	−0.0018%	4h	2.1990	+0.045%	$7.8M	$48.8M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.344%	$28K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1995	+0.068%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2246	+1.211%	$108K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0077%	8h	2.2044	+0.290%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDClong	+0.0087%	4h	2.1980	long leg	$3K	$237K	10x
SoDEX TRUMP-USD	+0.0094%	1h	2.1958	−0.100%	$80	$6K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.1958	−0.100%	$976K	$789K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2013	+0.150%	$14.7M	$7.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1976	−0.017%	$435K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2050	+0.318%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2019	+0.179%	$63.9M	$236.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2030	+0.227%	$31.5M	$48.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2050	+0.318%	$28.8M	$170.1M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2000	+0.091%	$438K	$145K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2020	+0.182%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2010	+0.136%	$15.7M	$24.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2072	+0.417%	$698K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2068	+0.400%	$181K	$4.7M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2010	+0.136%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2010	+0.136%	$564K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1990	+0.044%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1917	−0.285%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1991	+0.050%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0305%	1h	2.1984	+0.018%	$257K	$323K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+1.137%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1979	−0.006%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	+0.546%	$286K	$307K	50x	as long as short