TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.2165%/8h= −237.1% APRnext payment −$2.71 per $10,000 · paid last 24h −0.608%

Price spread now: Injective against Coinbase International+0.418%64s7-day average −0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs−$208as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1431.433% of the position

Long on Coinbase International Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.643%−$64 on $10k

Price spread, last 4 days (all we have)−0.726%−$73 · spread now +0.418%, 7d avg −0.143%

Together, before fees−1.370%−$137 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 0.561% dearer against Coinbase International than usual: you sell high and buy low (spread +0.418% now, against its 7-day average of −0.143%): +$56 on $10k if it goes back. Holding the pair costs −$65 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−0.643% in total) that is about 6.1 days. The two prices were read 64 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.643% in total (about -33.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.71 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	2.1520	0.0400	pay 0.0050% / 1h	51m 19s	$278K	$275K	50x
Short	Injective TRUMP/USDC PERP	2.1610	−0.1765	pay 0.0221% / 1h	51m 19s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.418%Rate

Funding earned: −$454.69
Price spread: +0.418% → −0.143%: $56.11
Slippage, 4 orders: −$133.25
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$541.85
Costs to cover: 1.433%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; Injective: live order book, 53 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, 2 min ago	13.74 bp	23.2 bp −$23	31.7 bp −$317	doesn't fit	doesn't fit
Sell Injective live order book, 53 min ago	48.76 bp	48.8 bp −$49	doesn't fit	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 PERPshort	−0.1765%	1h	2.1610	+0.418%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1781	+1.215%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0032%	1h	2.1769	+1.156%	$75K	$722K	25x	as long as short
Binance TRUMPUSDT	−0.0030%	4h	2.1780	+1.208%	$61.4M	$243.0M	75x	as long as short
edgeX TRUMPUSDC	−0.0015%	4h	2.1745	+1.047%	$106K	$264K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1796	+1.284%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1808	+1.338%	$410K	$72K	10x	as long as short
Variational Omni TRUMP	+0.0006%	4h	2.1621	+0.470%	$681K	$503K	—	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1794	+1.274%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0041%	4h	2.1780	+1.208%	$4K	$180K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	+0.0043%	8h	2.1769	+1.158%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0058%	1h	2.1800	+1.301%	$95	$6K	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1792	+1.262%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0088%	1h	2.1791	+1.259%	$964K	$959K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1801	+1.306%	$13.8M	$7.9M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1795	+1.280%	$427K	$794K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1789	+1.250%	$187K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1790	+1.255%	$30.8M	$49.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1770	+1.162%	$27.5M	$176.5M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1790	+1.255%	$7.8M	$50.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1780	+1.208%	$409K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1790	+1.255%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1780	+1.208%	$15.7M	$25.7M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1815	+1.372%	$187K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1830	+1.441%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1800	+1.301%	$518K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1790	+1.254%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1827	+1.427%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0208%	4h	2.1810	+1.348%	$4.2M	$684K	75x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0400%	1h	2.1520	long leg	$278K	$275K	50x
Backpack TRUMP_USDC_PERP	+0.0471%	1h	2.1831	+1.445%	$343K	$375K	10x	as long as short