Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.014%

Price spread now: BloFin against Coinbase International−0.319%58s7-day average −0.054% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$760.762% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.167%+$17 on $10k

Price spread, last 3 days (all we have)+0.272%+$27 · spread now −0.319%, 7d avg −0.054%

Together, before fees+0.439%+$44 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and BloFin is 0.265% cheaper against Coinbase International than usual: you would sell low and buy high (−$27 if the spread goes back to its 7-day average of −0.054%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.167%, so the current rate has only just turned against you. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1920	0.0472	pay 0.0059% / 1h	15m 41s	$281K	$399K	50x
Short	BloFin TRUMP-USDT	2.1850	0.0340	get 0.0170% / 4h	1h 15m	$4.2M	$514K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.319%Rate

Funding earned: −$27.72
Price spread: −0.319% → −0.054%: −$26.52
Slippage, 4 orders: −$54.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$130.43
Costs to cover: 0.762%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; BloFin: live order book, 3 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, 2 min ago	13.70 bp	27.4 bp −$27	31.1 bp −$311	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	6.86 bp	12.9 bp −$13	20.4 bp −$204	39.5 bp −$3,949	142.9 bp −$71.5K

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	−0.1472%	1h	2.1770	−0.684%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1912	−0.036%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1887	−0.151%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1913	−0.032%	$411K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1915	−0.024%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1865	−0.251%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1900	−0.091%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1887	−0.152%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1881	−0.178%	$973K	$682K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1910	−0.046%	$14.0M	$7.4M	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	2.1895	−0.116%	$455K	$833K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1893	−0.123%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1890	−0.137%	$62.5M	$219.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1880	−0.182%	$30.5M	$43.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1890	−0.137%	$26.8M	$150.4M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	−0.137%	$7.4M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.182%	$481K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.137%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1890	−0.137%	$15.5M	$21.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1892	−0.127%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1900	−0.091%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1920	0.000%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	−0.114%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1950	+0.137%	$532K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1881	−0.180%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1905	−0.068%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1913	−0.034%	$10K	—	100x	as long as short
BloFin TRUMP-USDTshort	+0.0340%	4h	2.1850	−0.319%	$4.2M	$514K	75x
Backpack TRUMP_USDC_PERP	+0.0349%	1h	2.1918	−0.009%	$262K	$272K	10x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0472%	1h	2.1920	long leg	$281K	$399K	50x
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1924	+0.020%	$1.3M	$2.5M	50x	as long as short