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 Bybit−0.046%7-day average +0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$660.656% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.174%+$17 on $10k

Price spread, last 3 days (all we have)+0.046%+$5 · spread now −0.046%, 7d avg +0.065%

Together, before fees+0.220%+$22 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.111% cheaper against Bybit than usual: you would sell low and buy high (spread −0.046% now, against its 7-day average of +0.065%). If the spread goes back, that is −$11 on $10k: about 47 hours of funding at the current rate (+$6 a day). At the pace of the last 7 days (+0.174% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.1870	0.0100	pay 0.0050% / 4h	2h 10m	$30.6M	$42.3M	50x
Short	Coinbase International TRUMP-PERP-INTX	2.1860	0.0288	get 0.0036% / 1h	10m 54s	$281K	$399K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.046%Rate

Funding earned: $39.48
Price spread: −0.046% → +0.065%: −$11.05
Slippage, 4 orders: −$44.62
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$37.2
Costs to cover: 0.656%
Break-even: 13.6 days

Slippage from Bybit: live order book, 8 min ago; Coinbase International: live order book, 12 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 Bybit live order book, 8 min ago	2.29 bp	11.4 bp −$11	24.2 bp −$242	205.8 bp −$20.6K	doesn't fit
Sell Coinbase International live order book, 12 min ago	11.41 bp	20.2 bp −$20	25.1 bp −$251	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	2.1730	−0.640%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1854	−0.073%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0130%	1h	2.1878	+0.037%	$1.3M	$2.3M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0116%	1h	2.1860	−0.046%	$410K	$79K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1848	−0.099%	$27K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1860	−0.048%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1873	+0.012%	$119K	$248K	20x	as long as short
Lighter TRUMP	+0.0056%	1h	2.1845	−0.114%	$972K	$662K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0081%	8h	2.1838	−0.145%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1850	−0.091%	$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
Hyperliquid TRUMP	+0.0100%	1h	2.1877	+0.032%	$14.1M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1871	+0.004%	$458K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1847	−0.105%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1870	0.000%	$62.3M	$215.5M	75x	as long as short
Bybit TRUMPUSDTlong	+0.0100%	4h	2.1870	long leg	$30.6M	$42.3M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1860	−0.046%	$26.7M	$147.7M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1870	0.000%	$7.4M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	0.000%	$480K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1880	+0.046%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1870	0.000%	$15.5M	$20.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1864	−0.027%	$682K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1843	−0.122%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1860	−0.046%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1855	−0.069%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	+0.046%	$515K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1857	−0.058%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1845	−0.114%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0171%	1h	2.1879	+0.041%	$259K	$264K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1861	−0.040%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0288%	1h	2.1860	−0.046%	$281K	$399K	50x
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.091%	$4.2M	$503K	75x	as long as short