TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0536%/8h= −58.7% APRnext payment −$0.67 per $10,000 · paid last 24h −0.117%

Price spread now: Deribit against Coinbase International−0.282%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$135as in the Funding arb table

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$970.972% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.375%−$37 on $10k

Price spread, last 3 days (all we have)+0.277%+$28 · spread now −0.282%, 7d avg −0.051%

Together, before fees−0.098%−$10 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 Deribit is 0.231% cheaper against Coinbase International than usual: you would sell low and buy high (−$23 if the spread goes back to its 7-day average of −0.051%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.375% in total (about -19.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.67 per $10,000. 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	2.2020	0.0536	pay 0.0067% / 1h	20m 53s	$286K	$305K	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1958	0	get 0.0000% / 1h	20m 53s	$413K	$80K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.282%Rate

Funding earned: −$112.56
Price spread: −0.282% → −0.051%: −$23.08
Slippage, 4 orders: −$80.18
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$232.82
Costs to cover: 0.972%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 47 min ago; Deribit: live order book, 48 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, 47 min ago	17.81 bp	22.8 bp −$23	52.5 bp −$525	doesn't fit	doesn't fit
Sell Deribit live order book, 48 min ago	8.90 bp	23.4 bp −$23	doesn't fit	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1920	−0.454%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1931	−0.403%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0090%	4h	2.1920	−0.454%	$7.8M	$49.2M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1967	−0.242%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1958	−0.282%	$413K	$80K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1974	−0.208%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1991	−0.130%	$107K	$263K	20x	as long as short
SoDEX TRUMP-USD	+0.0060%	1h	2.1944	−0.345%	$78	$6K	5x	as long as short
Lighter TRUMP	+0.0072%	1h	2.1935	−0.386%	$976K	$790K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0072%	8h	2.1952	−0.308%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1940	−0.363%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1953	−0.304%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1940	−0.363%	$434K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1959	−0.275%	$189K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1930	−0.409%	$63.8M	$236.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1920	−0.454%	$31.5M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1930	−0.409%	$28.9M	$170.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1930	−0.409%	$436K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1940	−0.363%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1930	−0.409%	$15.7M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1951	−0.314%	$691K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2029	+0.042%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1970	−0.227%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1970	−0.227%	$556K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1919	−0.459%	$76K	$597K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1945	−0.341%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1967	−0.239%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0280%	1h	2.1951	−0.313%	$257K	$319K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1974	−0.207%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0536%	1h	2.2020	long leg	$286K	$305K	50x