Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Deribit against SunX−0.163%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$210as in the Funding arb table

Net, price: spread back to 7d avg − costs−$186as in the Price arb table

costs, in and out, $10k−$1761.762% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.338%−$34 on $10k

Price spread, last 3 days (all we have)+0.085%+$8 · spread now −0.163%, 7d avg −0.069%

Together, before fees−0.253%−$25 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 0.094% cheaper against SunX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.069%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TRUMP-USDT	2.2090	0.0100	pay 0.0050% / 4h	41m 25s	$2K	$1.6M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.2054	0	get 0.0000% / 1h	41m 25s	$414K	$76K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.163%Rate

Funding earned: −$21
Price spread: −0.163% → −0.069%: −$9.38
Slippage, 4 orders: −$161.19
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$206.57
Costs to cover: 1.762%
Break-even: never at this rate

Slippage from SunX: live order book, 3 min ago; Deribit: live order book, 37 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 SunX live order book, 3 min ago	31.62 bp	61.3 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 37 min ago	5.71 bp	12.4 bp −$12	22.2 bp −$222	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	−0.1537%	1h	2.2030	−0.272%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2082	−0.035%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2060	−0.135%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.2054	−0.163%	$414K	$76K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2086	−0.017%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2145	+0.247%	$121K	$250K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0089%	4h	2.2090	0.000%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2061	−0.131%	$989K	$738K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0096%	8h	2.2061	−0.131%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2094	+0.017%	$460K	$835K	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	2.2062	−0.125%	$190K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2090	0.000%	$63.8M	$223.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2080	−0.045%	$31.1M	$44.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2070	−0.091%	$27.3M	$153.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2090	0.000%	$7.5M	$48.0M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2060	−0.136%	$483K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2090	0.000%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2090	0.000%	$15.9M	$21.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2142	+0.236%	$650K	$373K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2085	−0.022%	$193K	$4.5M	10x	as long as short
SunX TRUMP-USDTlong	+0.0100%	4h	2.2090	long leg	$2K	$1.6M	50x
SoDEX TRUMP-USD	+0.0100%	1h	2.2055	−0.158%	$75	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2090	0.000%	$565K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2071	−0.086%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2070	−0.091%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2084	−0.029%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2090	0.000%	$4.2M	$637K	75x	as long as short
Hyperliquid TRUMP	+0.0345%	1h	2.2111	+0.095%	$14.3M	$7.5M	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2240	+0.679%	$287K	$395K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0527%	1h	2.2081	−0.041%	$260K	$278K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0865%	1h	2.2085	−0.022%	$1.3M	$2.5M	50x	as long as short