Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0324%/8h= −35.5% APRpaid last 24h −0.084%

Price spread now: Gate against Coinbase International+0.772%7-day average −0.055% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs+$5as in the Price arb table

costs, in and out, $10k−$780.776% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$11 on $10k

Price spread, last 3 days (all we have)−0.820%−$82 · spread now +0.772%, 7d avg −0.055%

Together, before fees−0.925%−$93 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.828% dearer against Coinbase International than usual: you sell high and buy low (spread +0.772% now, against its 7-day average of −0.055%): +$83 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8.5 days. At the pace of the last 7 days (−0.105% in total) that is about 55 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% 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	2.2010	0.0424	pay 0.0053% / 1h	51m 37s	$284K	$401K	50x
Short	Gate TRUMP_USDT	2.2180	0.0100	get 0.0050% / 4h	51m 37s	$7.5M	$47.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.772%Rate

Funding earned: −$68.04
Price spread: +0.772% → −0.055%: $82.75
Slippage, 4 orders: −$52.62
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$62.91
Costs to cover: 0.776%
Break-even: from the start

Slippage from Coinbase International: live order book, 26 min ago; Gate: 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, 26 min ago	13.70 bp	27.4 bp −$27	31.1 bp −$311	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.26 bp	13.3 bp −$13	27.6 bp −$276	66.6 bp −$6,656	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	−0.1537%	1h	2.2010	0.000%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2102	+0.419%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2157	+0.667%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2103	+0.423%	$415K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2114	+0.473%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2074	+0.289%	$120K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2110	+0.454%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0095%	8h	2.2190	+0.818%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2174	+0.745%	$996K	$726K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2139	+0.586%	$461K	$834K	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	2.2172	+0.738%	$191K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2175	+0.751%	$63.6M	$222.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2180	+0.772%	$31.1M	$43.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2190	+0.818%	$27.3M	$153.2M	50x	as long as short
Gate TRUMP_USDTshort	+0.0100%	4h	2.2180	+0.772%	$7.5M	$47.5M	75x
MEXC TRUMP_USDC	+0.0100%	4h	2.2150	+0.636%	$485K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2180	+0.772%	$4.8M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2190	+0.818%	$15.8M	$21.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2022	+0.055%	$690K	$279K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2130	+0.547%	$194K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2130	+0.545%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2109	+0.450%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2130	+0.545%	$526K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2181	+0.775%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2093	+0.377%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2104	+0.425%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0321%	1h	2.2199	+0.859%	$14.3M	$7.4M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2130	+0.545%	$4.2M	$633K	75x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0424%	1h	2.2010	long leg	$284K	$401K	50x
Backpack TRUMP_USDC_PERP	+0.0625%	1h	2.2135	+0.568%	$261K	$275K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0863%	1h	2.2138	+0.582%	$1.3M	$2.5M	50x	as long as short