Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.032%

Price spread now: KuCoin against Deribit−0.119%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$620.620% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 4 days (all we have)+0.146%+$15 · spread now −0.119%, 7d avg −0.017%

Together, before fees+0.328%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.102% cheaper against Deribit than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.017%). If the spread goes back, that is −$10 on $10k: about 3.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1856	0	get 0.0000% / 1h	47m 43s	$411K	$72K	10x
Short	KuCoin TRUMPUSDTM	2.1830	0.0100	get 0.0050% / 4h	3h 47m	$4.3M	$11.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.119%Rate

Funding earned: $21
Price spread: −0.119% → −0.017%: −$10.24
Slippage, 4 orders: −$43.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$51.26
Costs to cover: 0.620%
Break-even: 24.1 days

Slippage from Deribit: live order book, 6 min ago; KuCoin: live order book, 6 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, 6 min ago	6.42 bp	16.8 bp −$17	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	4.58 bp	18.3 bp −$18	139.1 bp −$1,391	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 PERP	−0.1765%	1h	2.1690	−0.760%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1851	−0.021%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0036%	4h	2.1820	−0.165%	$61.6M	$243.9M	75x	as long as short
Extended TRUMP-USD	−0.0032%	1h	2.1809	−0.215%	$75K	$722K	25x	as long as short
SoDEX TRUMP-USD	−0.0026%	1h	2.1850	−0.027%	$95	$6K	5x	as long as short
edgeX TRUMPUSDC	−0.0015%	4h	2.1745	−0.506%	$106K	$264K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1840	−0.073%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1856	long leg	$411K	$72K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1861	+0.023%	$41K	—	150x	as long as short
Variational Omni TRUMP	+0.0014%	4h	2.1781	−0.342%	$676K	$514K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	+0.0034%	4h	2.1830	−0.119%	$7.8M	$50.9M	75x	as long as short
Orderly PERP_TRUMP_USDC	+0.0040%	4h	2.1850	−0.027%	$4K	$178K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0041%	8h	2.1822	−0.157%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1840	−0.073%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1820	−0.165%	$966K	$959K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1840	−0.073%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1861	+0.023%	$428K	$816K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1820	−0.165%	$188K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1820	−0.165%	$30.8M	$49.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1810	−0.210%	$27.8M	$178.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1820	−0.165%	$410K	$149K	125x	as long as short
KuCoin TRUMPUSDTMshort	+0.0100%	4h	2.1830	−0.119%	$4.3M	$11.1M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1830	−0.119%	$15.8M	$25.9M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1815	−0.187%	$187K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1870	+0.064%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.064%	$510K	$2.3M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1876	+0.092%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1867	+0.050%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0207%	4h	2.1760	−0.439%	$4.2M	$683K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1520	−1.537%	$278K	$275K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0469%	1h	2.1889	+0.151%	$344K	$375K	10x	as long as short