Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0524%/8h= −57.4% APRpaid last 24h −0.083%

Price spread now: Binance against Coinbase International−1.065%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$610.611% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.253%−$25 on $10k

Price spread, last 3 days (all we have)+1.052%+$105 · spread now −1.065%, 7d avg −0.067%

Together, before fees+0.799%+$80 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Binance is 0.998% cheaper against Coinbase International than usual: you would sell low and buy high (−$100 if the spread goes back to its 7-day average of −0.067%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.253% in total (about -13.2% 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	Coinbase International TRUMP-PERP-INTX	2.2060	0.0624	pay 0.0078% / 1h	56m 52s	$285K	$388K	50x
Short	Binance TRUMPUSDT	2.1825	0.0100	get 0.0050% / 4h	3h 56m	$62.7M	$227.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −1.065%Rate

Funding earned: −$110.04
Price spread: −1.065% → −0.067%: −$99.76
Slippage, 4 orders: −$41.13
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$270.93
Costs to cover: 0.611%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 16 min ago; Binance: 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 Coinbase International live order book, 16 min ago	13.72 bp	24.1 bp −$24	32.2 bp −$322	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	2.29 bp	7.3 bp −$7	13.4 bp −$134	37.2 bp −$3,721	198.7 bp −$99.4K

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	−0.1608%	1h	2.1730	−1.496%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1822	−1.079%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1837	−1.012%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1816	−1.106%	$409K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1836	−1.015%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1848	−0.960%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1810	−1.133%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1807	−1.147%	$978K	$705K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1835	−1.020%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1818	−1.097%	$454K	$836K	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	2.1844	−0.981%	$188K	$60K	10x	as long as short
Binance TRUMPUSDTshort	+0.0100%	4h	2.1825	−1.065%	$62.7M	$227.0M	75x
Bybit TRUMPUSDT	+0.0100%	4h	2.1820	−1.088%	$30.6M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1820	−1.088%	$27.1M	$152.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1810	−1.133%	$7.4M	$46.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1800	−1.179%	$472K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1810	−1.133%	$4.2M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1820	−1.088%	$15.5M	$21.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	−0.897%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1888	−0.779%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1850	−0.952%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1809	−1.138%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1860	−0.907%	$553K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1811	−1.129%	$75K	$463K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1817	−1.101%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0135%	1h	2.1852	−0.943%	$14.2M	$7.6M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1831	−1.039%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1810	−1.133%	$4.2M	$631K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0392%	1h	2.1829	−1.047%	$255K	$284K	10x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0624%	1h	2.2060	long leg	$285K	$388K	50x
Kraken Futures PF_TRUMPUSD	+0.0789%	1h	2.1836	−1.014%	$1.3M	$2.5M	50x	as long as short