Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0230%/8h= +25.1% APRpaid last 24h −0.009%

Price spread now: Kraken Futures against Binance+0.213%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$6 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.213%, 7d avg +0.078%

Together, before fees−0.172%−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.136% dearer against Binance than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.078%. Mind the row above: over the last 7 days funding on this pair cost −0.055%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.055% in total (about -2.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TRUMPUSDT	2.1542	−0.0010	get 0.0005% / 4h	16m 38s	$60.5M	$241.7M	75x
Short	Kraken Futures PF_TRUMPUSD	2.1588	0.0220	get 0.0027% / 1h	16m 38s	$1.3M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.213%Rate

Funding earned: $48.22
Price spread: +0.213% → +0.078%: $13.56
Slippage, 4 orders: −$33.55
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $8.23
Costs to cover: 0.536%
Break-even: 5.8 days

Slippage from Binance: live order book, 12 min ago; Kraken Futures: live order book, 2 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 Binance live order book, 12 min ago	2.32 bp	7.3 bp −$7	9.9 bp −$99	32.2 bp −$3,221	262.9 bp −$131.4K
Sell Kraken Futures live order book, 2 min ago	2.32 bp	18.9 bp −$19	32.2 bp −$322	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	−0.1690%	1h	2.1430	−0.519%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	−0.002%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0119%	1h	2.1555	+0.061%	$94	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0056%	4h	2.1550	+0.038%	$7.6M	$51.0M	75x	as long as short
Lighter TRUMP	−0.0048%	1h	2.1542	+0.001%	$953K	$957K	10x	as long as short
Binance TRUMPUSDTlong	−0.0010%	4h	2.1542	long leg	$60.5M	$241.7M	75x
Variational Omni TRUMP	−0.0009%	4h	2.1551	+0.043%	$665K	$488K	—	as long as short
Extended TRUMP-USD	−0.0008%	1h	2.1534	−0.036%	$75K	$716K	25x	as long as short
edgeX TRUMPUSDC	−0.0005%	4h	2.1546	+0.020%	$105K	$264K	20x	as long as short
dYdX TRUMP-USD	−0.0002%	1h	2.1556	+0.066%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1562	+0.094%	$406K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1565	+0.106%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0032%	8h	2.1535	−0.033%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1550	+0.038%	$4K	$206K	10x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1550	+0.038%	$19K	—	3x	as long as short
Bybit TRUMPUSDT	+0.0082%	4h	2.1540	−0.009%	$30.5M	$49.6M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1569	+0.126%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1579	+0.172%	$423K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1562	+0.094%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1540	−0.009%	$27.2M	$173.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	+0.038%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1560	+0.084%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1540	−0.009%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1585	+0.200%	$253K	$318K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1530	−0.054%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.177%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.177%	$504K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1569	+0.126%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0220%	1h	2.1588	+0.213%	$1.3M	$2.2M	50x
BloFin TRUMP-USDT	+0.0230%	4h	2.1560	+0.084%	$4.2M	$683K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1560	+0.084%	$279K	$280K	50x	as long as short