Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1731%/8h= −189.6% APRpaid last 24h −0.498%

Price spread now: Injective against edgeX−0.400%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1221.223% of the position

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.374%−$37 on $10k

Price spread, last 4 days (all we have)+0.114%+$11 · spread now −0.400%, 7d avg −0.045%

Together, before fees−0.259%+ Points / potential airdropedgeX: Active · farm board−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Injective is 0.355% cheaper against edgeX than usual: you would sell low and buy high (−$36 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.374% in total (about -19.5% a year). A funding rate is set anew for every payment. 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	edgeX TRUMPUSDC	2.1827	−0.0034	get 0.0017% / 4h	3h 29m	$106K	$265K	20x
Short	Injective TRUMP/USDC PERP	2.1740	−0.1765	pay 0.0221% / 1h	29m 22s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. 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 edgeXbpFee InjectivebpOrdersPrice spread, now −0.400%Rate

Funding earned: −$363.53
Price spread: −0.400% → −0.045%: −$35.52
Slippage, 4 orders: −$113.26
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$521.33
Costs to cover: 1.223%
Break-even: never at this rate

Slippage from edgeX: live order book, 23 min ago; Injective: live order book, 10 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 edgeX live order book, 23 min ago	6.88 bp	13.7 bp −$14	36.8 bp −$368	doesn't fit	doesn't fit
Sell Injective live order book, 10 min ago	41.28 bp	43.7 bp −$44	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	−0.1765%	1h	2.1740	−0.400%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1791	−0.167%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0234%	1h	2.1845	+0.081%	$87	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0117%	1h	2.1798	−0.134%	$410K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0079%	4h	2.1800	−0.125%	$61.7M	$245.2M	75x	as long as short
Extended TRUMP-USD	−0.0072%	1h	2.1794	−0.154%	$75K	$716K	25x	as long as short
Gate TRUMP_USDT	−0.0038%	4h	2.1800	−0.125%	$7.8M	$51.5M	75x	as long as short
edgeX TRUMPUSDClong	−0.0034%	4h	2.1827	long leg	$106K	$265K	20x
Variational Omni TRUMP	−0.0013%	4h	2.1871	+0.201%	$675K	$516K	—	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1836	+0.038%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1810	−0.081%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0023%	8h	2.1793	−0.155%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0025%	4h	2.1790	−0.171%	$3K	$187K	10x	as long as short
Aevo TRUMP-PERP	+0.0064%	1h	2.1790	−0.171%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1800	−0.125%	$962K	$975K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1815	−0.056%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1812	−0.069%	$410K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1813	−0.066%	$188K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1800	−0.125%	$31.0M	$50.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1790	−0.171%	$27.9M	$179.8M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1790	−0.171%	$409K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1810	−0.079%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1800	−0.125%	$15.8M	$25.9M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1870	+0.196%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1860	+0.150%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.196%	$498K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0169%	4h	2.1870	+0.196%	$4.2M	$684K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1809	−0.085%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1868	+0.186%	$1.3M	$2.2M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0307%	1h	2.1861	+0.154%	$343K	$376K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1890	+0.287%	$283K	$279K	50x	as long as short