Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0276%/8h= −30.3% APRpaid last 24h −0.089%

Price spread now: Bybit against Coinbase International0.000%7-day average −0.089% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$390.387% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.208%−$21 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now 0.000%, 7d avg −0.089%

Together, before fees−0.236%−$24 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.089% dearer against Coinbase International than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.089%): +$9 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.208% in total) that is about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1340	0.0192	pay 0.0024% / 1h	33m 43s	$203K	$421K	50x
Short	Bybit TRUMPUSDT	2.1340	−0.0084	pay 0.0042% / 4h	1h 33m	$30.3M	$52.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$58.04
Price spread: 0.000% → −0.089%: $8.85
Slippage, 4 orders: −$17.74
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$87.93
Costs to cover: 0.387%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 9 min ago; Bybit: live order book, 5 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, 9 min ago	4.68 bp	9.7 bp −$10	26.8 bp −$268	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.34 bp	7.8 bp −$8	15.5 bp −$155	83.8 bp −$8,380	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	−0.1927%	1h	2.1290	−0.234%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1307	−0.156%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0212%	4h	2.1352	+0.056%	$60.3M	$251.9M	75x	as long as short
Extended TRUMP-USD	−0.0208%	1h	2.1350	+0.046%	$74K	$673K	25x	as long as short
Variational Omni TRUMP	−0.0157%	4h	2.1351	+0.053%	$659K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0110%	4h	2.1406	+0.311%	$104K	$264K	20x	as long as short
Gate TRUMP_USDT	−0.0108%	4h	2.1330	−0.047%	$7.6M	$53.6M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0104%	4h	2.1350	+0.047%	$26.3M	$184.1M	50x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1353	+0.060%	$1.3M	$2.3M	50x	as long as short
Bybit TRUMPUSDTshort	−0.0084%	4h	2.1340	0.000%	$30.3M	$52.5M	50x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0064%	8h	2.1347	+0.031%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0061%	4h	2.1320	−0.094%	$5K	$244K	10x	as long as short
SoDEX TRUMP-USD	−0.0059%	1h	2.1325	−0.070%	$80	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1336	−0.018%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1325	−0.070%	$402K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1325	−0.069%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1310	−0.141%	$18K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0025%	4h	2.1370	+0.141%	$4.1M	$684K	75x	as long as short
Lighter TRUMP	+0.0088%	1h	2.1345	+0.023%	$943K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1347	+0.033%	$13.4M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1357	+0.081%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1345	+0.022%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1360	+0.094%	$397K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1360	+0.094%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1350	+0.047%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1385	+0.211%	$177K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1350	+0.047%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1330	−0.047%	$480K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1373	+0.156%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0192%	1h	2.1340	long leg	$203K	$421K	50x
Backpack TRUMP_USDC_PERP	+0.0312%	1h	2.1358	+0.084%	$378K	$415K	10x	as long as short