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 −0.081%

Price spread now: HTX against Coinbase International−0.725%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$100as in the Funding arb table

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

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

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.027%−$3 on $10k

Price spread, last 3 days (all we have)+0.738%+$74 · spread now −0.725%, 7d avg +0.030%

Together, before fees+0.711%+$71 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and HTX is 0.756% cheaper against Coinbase International than usual: you would sell low and buy high (−$76 if the spread goes back to its 7-day average of +0.030%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.027% in total (about -1.4% 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	2.2060	0.0424	pay 0.0053% / 1h	17m 49s	$285K	$391K	50x
Short	HTX TRUMP-USDT	2.1900	0.0100	get 0.0050% / 4h	17m 49s	$554K	$1.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.725%Rate

Funding earned: −$68.04
Price spread: −0.725% → +0.030%: −$75.57
Slippage, 4 orders: −$75.24
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$240.85
Costs to cover: 0.972%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 60 min ago; HTX: live order book, 1 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, 60 min ago	13.70 bp	27.4 bp −$27	31.1 bp −$311	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	9.12 bp	25.8 bp −$26	46.6 bp −$466	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	−0.1537%	1h	2.1770	−1.315%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1882	−0.808%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1877	−0.831%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1894	−0.752%	$411K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1888	−0.780%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1805	−1.156%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0096%	4h	2.1890	−0.771%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1888	−0.780%	$981K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1883	−0.800%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1891	−0.766%	$456K	$833K	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	2.1880	−0.814%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1880	−0.817%	$62.8M	$226.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1880	−0.816%	$30.8M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.816%	$27.2M	$153.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	−0.771%	$7.5M	$48.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.816%	$479K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.771%	$4.4M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1890	−0.771%	$15.5M	$21.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1852	−0.943%	$639K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1845	−0.976%	$192K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	−0.680%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1888	−0.780%	$74	$6K	5x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1900	−0.725%	$554K	$1.9M	50x
Extended TRUMP-USD	+0.0104%	1h	2.1871	−0.857%	$75K	$469K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1884	−0.799%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1890	−0.768%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0276%	1h	2.1907	−0.694%	$14.1M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1910	−0.680%	$4.2M	$637K	75x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0424%	1h	2.2060	long leg	$285K	$391K	50x
Backpack TRUMP_USDC_PERP	+0.0489%	1h	2.1911	−0.675%	$258K	$282K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0872%	1h	2.1906	−0.696%	$1.3M	$2.5M	50x	as long as short