TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1383%/8h= −151.5% APRnext payment −$1.73 per $10,000 · paid last 24h −0.490%

Price spread now: Injective against Deribit−0.404%63s7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$152as 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−$1161.162% of the position

Long on Deribit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.357%−$36 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now −0.404%, 7d avg −0.104%

Together, before fees−0.309%−$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and Injective is 0.299% cheaper against Deribit than usual: you would sell low and buy high (−$30 if the spread goes back to its 7-day average of −0.104%). Swap the legs. The two prices were read 63 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 -0.357% in total (about -18.6% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.73 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	2.1557	−0.0445	get 0.0056% / 1h	46m 04s	$406K	$65K	10x
Short	Injective TRUMP/USDC PERP	2.1470	−0.1829	pay 0.0229% / 1h	46m 04s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.404%Rate

Funding earned: −$290.48
Price spread: −0.404% → −0.104%: −$29.95
Slippage, 4 orders: −$109.22
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$436.67
Costs to cover: 1.162%
Break-even: never at this rate

Slippage from Deribit: live order book, 53 min ago; Injective: live order book, 38 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, 53 min ago	8.85 bp	12.4 bp −$12	22.8 bp −$228	doesn't fit	doesn't fit
Sell Injective live order book, 38 min ago	35.19 bp	35.2 bp −$35	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	−0.1829%	1h	2.1470	−0.404%	$13K	$157K	12x
SoDEX TRUMP-USD	−0.0570%	1h	2.1545	−0.056%	$72	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0445%	1h	2.1557	long leg	$406K	$65K	10x
Variational Omni TRUMP	−0.0310%	4h	2.1561	+0.021%	$663K	$421K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	−0.071%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1540	−0.081%	$74K	$494K	25x	as long as short
Binance TRUMPUSDT	−0.0223%	4h	2.1540	−0.079%	$61.0M	$246.9M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0222%	4h	2.1550	−0.032%	$27.0M	$183.6M	50x	as long as short
Lighter TRUMP	−0.0176%	1h	2.1541	−0.074%	$942K	$988K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	−0.218%	$168K	$473K	50x	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	−0.0130%	8h	2.1563	+0.029%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0108%	4h	2.1541	−0.073%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0092%	4h	2.1540	−0.079%	$5K	$291K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0006%	4h	2.1550	−0.032%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1578	+0.097%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1566	+0.042%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0019%	4h	2.1520	−0.172%	$4.2M	$688K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1529	−0.130%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0030%	4h	2.1540	−0.079%	$181K	$4.3M	10x	as long as short
Bitget TRUMPUSDT	+0.0046%	4h	2.1560	+0.014%	$15.4M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1568	+0.051%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1574	+0.077%	$405K	$718K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1573	+0.074%	$186K	$54K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1550	−0.032%	$30.8M	$52.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1550	−0.032%	$7.7M	$49.6M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	−0.032%	$401K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1590	+0.153%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1560	+0.014%	$503K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1571	+0.064%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1566	+0.044%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0360%	1h	2.1582	+0.116%	$383K	$420K	10x	as long as short