TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0536%/8h= +58.7% APRnext payment +$0.67 per $10,000 · paid last 24h +0.117%

Price spread now: Coinbase International against Deribit−0.478%7-day average +0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

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

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.375%+$37 on $10k

Price spread, last 3 days (all we have)+0.482%+$48 · spread now −0.478%, 7d avg +0.051%

Together, before fees+0.857%+$86 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.528% cheaper against Deribit than usual: you would sell low and buy high (spread −0.478% now, against its 7-day average of +0.051%). If the spread goes back, that is −$53 on $10k: about 3.3 days of funding at the current rate (+$16 a day). At the pace of the last 7 days (+0.375% in total) that is about 9.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.375% in total (about 19.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.67 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	Deribit TRUMP_USDC-PERPETUAL	2.1985	0	get 0.0000% / 1h	3m 54s	$414K	$79K	10x
Short	Coinbase International TRUMP-PERP-INTX	2.1880	0.0536	get 0.0067% / 1h	3m 54s	$284K	$302K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now −0.478%Rate

Funding earned: $112.56
Price spread: −0.478% → +0.051%: −$52.84
Slippage, 4 orders: −$80.18
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$37.46
Costs to cover: 0.972%
Break-even: 9.3 days

Slippage from Deribit: live order book, 65 min ago; Coinbase International: live order book, 64 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 Deribit live order book, 65 min ago	8.90 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 64 min ago	17.81 bp	24.1 bp −$24	36.2 bp −$362	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1800	−0.841%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1991	+0.029%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0058%	4h	2.2010	+0.114%	$7.7M	$49.9M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1956	−0.131%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1985	long leg	$414K	$79K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1995	+0.046%	$43K	—	150x	as long as short
Lighter TRUMP	+0.0048%	1h	2.1985	0.000%	$979K	$800K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1884	−0.461%	$106K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0070%	8h	2.1964	−0.097%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0076%	1h	2.1975	−0.045%	$82	$6K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1980	−0.023%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2031	+0.209%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2029	+0.201%	$436K	$862K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1978	−0.032%	$189K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2020	+0.159%	$64.0M	$235.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2010	+0.114%	$31.6M	$48.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2020	+0.159%	$28.6M	$170.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2000	+0.068%	$437K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2030	+0.205%	$4.3M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2030	+0.205%	$15.7M	$24.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1911	−0.336%	$690K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1803	−0.826%	$180K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2010	+0.114%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2010	+0.114%	$549K	$2.1M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2000	+0.068%	$77K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1965	−0.091%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1994	+0.043%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0270%	1h	2.2040	+0.250%	$258K	$316K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0513%	1h	2.1998	+0.058%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0536%	1h	2.1880	−0.478%	$284K	$302K	50x