Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.077%

Price spread now: Coinbase International against Bitget+0.184%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$700.698% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.130%+$13 on $10k

Price spread, last 3 days (all we have)−0.184%−$18 · spread now +0.184%, 7d avg +0.060%

Together, before fees−0.053%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Coinbase International is 0.124% dearer against Bitget than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.060%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.130% in total (about 6.8% 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	Bitget TRUMPUSDT	2.1790	0.0100	pay 0.0050% / 4h	2h 28m	$15.5M	$20.3M	75x
Short	Coinbase International TRUMP-PERP-INTX	2.1830	0.0288	get 0.0036% / 1h	28m 34s	$280K	$398K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.184%Rate

Funding earned: $39.48
Price spread: +0.184% → +0.060%: $12.38
Slippage, 4 orders: −$47.84
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$17.97
Costs to cover: 0.698%
Break-even: 10.2 days

Slippage from Bitget: live order book, 5 min ago; Coinbase International: live order book, 59 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 Bitget live order book, 5 min ago	2.30 bp	11.4 bp −$11	17.6 bp −$176	47.5 bp −$4,753	doesn't fit
Sell Coinbase International live order book, 59 min ago	9.15 bp	27.2 bp −$27	32.1 bp −$321	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	−0.1787%	1h	2.1640	−0.688%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1754	−0.165%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0131%	1h	2.1781	−0.042%	$1.0M	$2.1M	50x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1797	+0.032%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1773	−0.078%	$408K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1768	−0.102%	$41K	—	150x	as long as short
Lighter TRUMP	+0.0016%	1h	2.1775	−0.069%	$970K	$658K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1735	−0.251%	$118K	$248K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0073%	8h	2.1783	−0.031%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1760	−0.138%	$3K	$249K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1770	−0.090%	$456K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1793	+0.014%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1792	+0.008%	$62.0M	$215.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1780	−0.046%	$30.3M	$42.1M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1790	0.000%	$26.6M	$147.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1780	−0.046%	$7.4M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1770	−0.092%	$478K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1790	0.000%	$4.7M	$10.2M	50x	as long as short
Bitget TRUMPUSDTlong	+0.0100%	4h	2.1790	long leg	$15.5M	$20.3M	75x
Variational Omni TRUMP	+0.0100%	4h	2.1734	−0.257%	$678K	$262K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1745	−0.209%	$186K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1780	−0.046%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1765	−0.115%	$71	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1780	−0.046%	$510K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1783	−0.034%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1755	−0.159%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0132%	1h	2.1793	+0.014%	$14.0M	$7.4M	10x	as long as short
Backpack TRUMP_USDC_PERP	+0.0170%	1h	2.1794	+0.018%	$260K	$260K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1762	−0.127%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0288%	1h	2.1830	+0.184%	$280K	$398K	50x
BloFin TRUMP-USDT	+0.0340%	4h	2.1740	−0.229%	$4.1M	$493K	75x	as long as short