TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0379%/8h= +41.5% APRnext payment +$0.47 per $10,000 · paid last 24h +0.048%

Price spread now: Kraken Futures against Deribit+0.179%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$560.560% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 4 days (all we have)−0.084%−$8 · spread now +0.179%, 7d avg +0.045%

Together, before fees+0.017%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Kraken Futures is 0.134% dearer against Deribit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.045%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.47 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1440	−0.0356	get 0.0044% / 1h	7m 02s	$385K	$79K	10x
Short	Kraken Futures PF_TRUMPUSD	2.1478	0.0023	get 0.0003% / 1h	7m 02s	$1.4M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.179%Rate

Funding earned: $79.64
Price spread: +0.179% → +0.045%: $13.38
Slippage, 4 orders: −$39
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $37.02
Costs to cover: 0.560%
Break-even: 3.7 days

Slippage from Deribit: live order book, 40 min ago; Kraken Futures: live order book, 5 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, 40 min ago	4.66 bp	13.7 bp −$14	26.3 bp −$263	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	2.33 bp	11.8 bp −$12	24.0 bp −$240	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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
SoDEX TRUMP-USD	−0.0439%	1h	2.1435	−0.023%	$84	$6K	5x	as long as short
Variational Omni TRUMP	−0.0392%	4h	2.1390	−0.235%	$666K	$400K	—	as long as short
Extended TRUMP-USD	−0.0376%	1h	2.1423	−0.079%	$74K	$488K	25x	as long as short
Binance TRUMPUSDT	−0.0372%	4h	2.1440	0.000%	$62.8M	$237.3M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0357%	4h	2.1430	−0.047%	$27.1M	$172.8M	50x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0356%	1h	2.1440	long leg	$385K	$79K	10x
Bybit TRUMPUSDT	−0.0316%	4h	2.1440	0.000%	$31.2M	$48.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1410	−0.140%	$128K	$521K	50x	as long as short
MEXC TRUMP_USDC	−0.0248%	4h	2.1420	−0.093%	$388K	$144K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1439	−0.003%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0208%	1h	2.1434	−0.028%	$918K	$968K	10x	as long as short
Gate TRUMP_USDT	−0.0196%	4h	2.1440	0.000%	$7.7M	$48.1M	75x	as long as short
edgeX TRUMPUSDC	−0.0188%	4h	2.1423	−0.079%	$105K	$253K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0184%	4h	2.1440	0.000%	$4.3M	$10.1M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0178%	8h	2.1444	+0.018%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0133%	4h	2.1440	0.000%	$4.3M	$658K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0096%	4h	2.1430	−0.047%	$5K	$294K	10x	as long as short
Bitget TRUMPUSDT	−0.0038%	4h	2.1450	+0.047%	$15.5M	$24.8M	75x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1430	−0.047%	$19K	—	3x	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1474	+0.160%	$25K	$3K	5x	as long as short
GRVT TRUMP_USDT_Perp	+0.0006%	4h	2.1455	+0.070%	$173K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1463	+0.109%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0023%	1h	2.1478	+0.179%	$1.4M	$2.1M	50x
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.746%	$13K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1456	+0.075%	$13.5M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1445	+0.025%	$403K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1456	+0.074%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1470	+0.140%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1470	+0.140%	$488K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1430	−0.047%	$245K	$549K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0156%	1h	2.1468	+0.131%	$384K	$390K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0212% / S −0.0213%	1h	2.1453	+0.058%	$11K	—	100x	as long as short