Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.089%

Price spread now: GRVT against Coinbase International+0.132%7-day average −0.076% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$420.415% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.128%−$13 · spread now +0.132%, 7d avg −0.076%

Together, before fees−0.405%+ Points / potential airdropGRVT: Active · farm board−$40 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.208% dearer against Coinbase International than usual: you sell high and buy low (spread +0.132% now, against its 7-day average of −0.076%): +$21 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1360	0.0192	pay 0.0024% / 1h	30m 54s	$202K	$421K	50x
Short	GRVT TRUMP_USDT_Perp	2.1388	0.0100	get 0.0050% / 4h	1h 30m	$175K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$19.32
Price spread: +0.132% → −0.076%: $20.8
Slippage, 4 orders: −$22.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$40.03
Costs to cover: 0.415%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 12 min ago; GRVT: 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, 12 min ago	4.68 bp	9.7 bp −$10	26.8 bp −$268	doesn't fit	doesn't fit
Sell GRVT live order book, 3 min ago	2.34 bp	15.3 bp −$15	27.8 bp −$278	doesn't fit	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	2.1260	−0.468%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1382	+0.101%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0208%	1h	2.1380	+0.093%	$74K	$643K	25x	as long as short
Binance TRUMPUSDT	−0.0204%	4h	2.1390	+0.140%	$60.4M	$251.4M	75x	as long as short
Variational Omni TRUMP	−0.0157%	4h	2.1351	−0.041%	$659K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0106%	4h	2.1350	−0.045%	$104K	$265K	20x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1420	+0.279%	$1.3M	$2.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0099%	4h	2.1380	+0.094%	$26.4M	$184.3M	50x	as long as short
Gate TRUMP_USDT	−0.0092%	4h	2.1390	+0.140%	$7.7M	$53.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0083%	4h	2.1390	+0.140%	$30.4M	$52.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	−0.0061%	4h	2.1390	+0.140%	$5K	$246K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0061%	8h	2.1368	+0.036%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0008%	1h	2.1385	+0.117%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1386	+0.122%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1401	+0.192%	$403K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1399	+0.180%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1377	+0.080%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0036%	4h	2.1410	+0.234%	$4.1M	$684K	75x	as long as short
Lighter TRUMP	+0.0088%	1h	2.1381	+0.098%	$944K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1399	+0.183%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1400	+0.187%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1384	+0.112%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1390	+0.140%	$398K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1390	+0.140%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1400	+0.187%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perpshort	+0.0100%	4h	2.1388	+0.132%	$175K	$4.6M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.1410	+0.234%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1410	+0.234%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1400	+0.189%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0192%	1h	2.1360	long leg	$202K	$421K	50x
Backpack TRUMP_USDC_PERP	+0.0353%	1h	2.1426	+0.309%	$379K	$415K	10x	as long as short