Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0255%/8h= −28.0% APRpaid last 24h −0.095%

Price spread now: Orderly against Coinbase International−0.046%7-day average −0.100% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 4 days (all we have)+0.035%+$3 · spread now −0.046%, 7d avg −0.100%

Together, before fees−0.168%−$17 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Orderly is 0.054% dearer against Coinbase International than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.100%): +$5 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 17 hours. At the pace of the last 7 days (−0.203% in total) that is about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1510	0.0192	pay 0.0024% / 1h	58m 09s	$207K	$413K	50x
Short	Orderly PERP_TRUMP_USDC	2.1500	−0.0063	pay 0.0032% / 4h	1h 58m	$5K	$231K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.046%Rate

Funding earned: −$53.65
Price spread: −0.046% → −0.100%: $5.36
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$64.29
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Coinbase International: live order book, 50 min ago; Orderly: no order-book sample. Net counts fees only.

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, 50 min ago	6.97 bp	30.5 bp −$31	38.5 bp −$385	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.1410	−0.465%	$12K	$157K	12x	as long as short
Extended TRUMP-USD	−0.0256%	1h	2.1499	−0.052%	$74K	$739K	25x	as long as short
Binance TRUMPUSDT	−0.0255%	4h	2.1510	0.000%	$60.8M	$251.2M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1526	+0.076%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0179%	4h	2.1541	+0.144%	$664K	$424K	—	as long as short
Bybit TRUMPUSDT	−0.0158%	4h	2.1510	0.000%	$30.5M	$52.3M	50x	as long as short
edgeX TRUMPUSDC	−0.0133%	4h	2.1537	+0.127%	$105K	$265K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0133%	8h	2.1511	+0.003%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0104%	4h	2.1510	0.000%	$7.7M	$53.3M	75x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0098%	1h	2.1526	+0.077%	$1.3M	$2.3M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRUMP-USDT-SWAP	−0.0095%	4h	2.1500	−0.046%	$26.6M	$185.0M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0075%	1h	2.1510	0.000%	$405K	$81K	10x	as long as short
Orderly PERP_TRUMP_USDCshort	−0.0063%	4h	2.1500	−0.046%	$5K	$231K	10x
Lighter TRUMP	−0.0032%	1h	2.1501	−0.042%	$949K	$1.0M	10x	as long as short
BloFin TRUMP-USDT	−0.0020%	4h	2.1510	0.000%	$4.1M	$689K	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1535	+0.115%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1523	+0.062%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1494	−0.073%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0068%	4h	2.1560	+0.231%	$183K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1526	+0.074%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1522	+0.057%	$404K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1530	+0.095%	$185K	$53K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1510	0.000%	$401K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1510	0.000%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1510	0.000%	$15.3M	$27.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1550	+0.186%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1499	−0.051%	$82	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1520	+0.046%	$485K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1529	+0.087%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0192%	1h	2.1510	long leg	$207K	$413K	50x
Backpack TRUMP_USDC_PERP	+0.0589%	1h	2.1538	+0.130%	$385K	$414K	10x	as long as short