Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1816%/8h= −198.8% APRpaid last 24h −0.573%

Price spread now: Injective against BloFin−0.513%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$195as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1081.082% of the position

Long on BloFin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.869%−$87 on $10k

Price spread, last 4 days (all we have)+0.179%+$18 · spread now −0.513%, 7d avg −0.083%

Together, before fees−0.690%−$69 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$54 a day on $10k at the current rate, and Injective is 0.430% cheaper against BloFin than usual: you would sell low and buy high (−$43 if the spread goes back to its 7-day average of −0.083%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.869% in total (about -45.3% 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	BloFin TRUMP-USDT	2.1460	−0.0013	get 0.0006% / 4h	3h 34m	$4.2M	$686K	75x
Short	Injective TRUMP/USDC PERP	2.1350	−0.1829	pay 0.0229% / 1h	34m 33s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against BloFin. 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 BloFinbpFee InjectivebpOrdersPrice spread, now −0.513%Rate

Funding earned: −$381.32
Price spread: −0.513% → −0.083%: −$42.98
Slippage, 4 orders: −$96.17
Fee BloFin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$532.48
Costs to cover: 1.082%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Injective: 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 BloFin live order book, 4 min ago	2.33 bp	8.3 bp −$8	11.8 bp −$118	23.4 bp −$2,339	107.9 bp −$53.9K
Sell Injective live order book, 49 min ago	35.19 bp	35.2 bp −$35	doesn't fit	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 PERPshort	−0.1829%	1h	2.1350	−0.513%	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0590%	1h	2.1445	−0.070%	$71	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0449%	4h	2.1440	−0.093%	$30.6M	$51.7M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0309%	1h	2.1455	−0.023%	$388K	$81K	10x	as long as short
Variational Omni TRUMP	−0.0300%	4h	2.1451	−0.040%	$662K	$415K	—	as long as short
Gate TRUMP_USDT	−0.0282%	4h	2.1450	−0.047%	$7.7M	$49.7M	75x	as long as short
Extended TRUMP-USD	−0.0256%	1h	2.1429	−0.142%	$74K	$494K	25x	as long as short
Binance TRUMPUSDT	−0.0252%	4h	2.1437	−0.106%	$60.8M	$247.4M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0247%	4h	2.1430	−0.140%	$26.9M	$182.0M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1432	−0.132%	$5	—	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0224%	1h	2.1442	−0.084%	$937K	$990K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0161%	8h	2.1438	−0.101%	$5K	$175	5x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1450	−0.047%	$156K	$482K	50x	as long as short
GRVT TRUMP_USDT_Perp	−0.0122%	4h	2.1439	−0.098%	$180K	$4.3M	10x	as long as short
edgeX TRUMPUSDC	−0.0120%	4h	2.1432	−0.132%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0098%	4h	2.1450	−0.047%	$5K	$296K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0048%	4h	2.1440	−0.093%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0023%	1h	2.1466	+0.030%	$27K	$805	5x	as long as short
BloFin TRUMP-USDTlong	−0.0013%	4h	2.1460	long leg	$4.2M	$686K	75x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1475	+0.068%	$40K	—	150x	as long as short
Bitget TRUMPUSDT	+0.0024%	4h	2.1450	−0.047%	$15.3M	$26.5M	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1431	−0.135%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0096%	4h	2.1430	−0.140%	$398K	$148K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1466	+0.028%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1462	+0.009%	$408K	$719K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1462	+0.009%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1490	+0.140%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1480	+0.093%	$499K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1472	+0.057%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1461	+0.004%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0294%	1h	2.1484	+0.112%	$383K	$422K	10x	as long as short