Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0211%/8h= +23.1% APRpaid last 24h +0.032%

Price spread now: Kraken Futures against edgeX+0.258%7-day average +0.086% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$650.654% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 4 days (all we have)−0.159%−$16 · spread now +0.258%, 7d avg +0.086%

Together, before fees−0.165%+ Points / potential airdropedgeX: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kraken Futures is 0.172% dearer against edgeX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.086%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.006% in total (about -0.3% a year). A funding rate is set anew for every payment. 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	edgeX TRUMPUSDC	2.1423	−0.0188	get 0.0094% / 4h	1h 06m	$105K	$253K	20x
Short	Kraken Futures PF_TRUMPUSD	2.1478	0.0023	get 0.0003% / 1h	6m 17s	$1.4M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.258%Rate

Funding earned: $44.33
Price spread: +0.258% → +0.086%: $17.22
Slippage, 4 orders: −$46.37
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3.82
Costs to cover: 0.654%
Break-even: 7.6 days

Slippage from edgeX: live order book, 39 min ago; Kraken Futures: live order book, just now.

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, 39 min ago	9.33 bp	16.5 bp −$16	42.4 bp −$424	doesn't fit	doesn't fit
Sell Kraken Futures live order book, just now	4.65 bp	17.4 bp −$17	29.7 bp −$297	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	+0.056%	$84	$6K	5x	as long as short
Variational Omni TRUMP	−0.0392%	4h	2.1390	−0.156%	$666K	$400K	—	as long as short
Extended TRUMP-USD	−0.0376%	1h	2.1428	+0.023%	$74K	$488K	25x	as long as short
Binance TRUMPUSDT	−0.0372%	4h	2.1447	+0.111%	$62.8M	$236.8M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0353%	4h	2.1440	+0.079%	$27.1M	$172.9M	50x	as long as short
Bybit TRUMPUSDT	−0.0303%	4h	2.1450	+0.126%	$31.2M	$48.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1410	−0.061%	$128K	$521K	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0263%	1h	2.1452	+0.135%	$385K	$79K	10x	as long as short
MEXC TRUMP_USDC	−0.0248%	4h	2.1430	+0.033%	$388K	$144K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1444	+0.099%	$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	2.1437	+0.065%	$918K	$968K	10x	as long as short
Gate TRUMP_USDT	−0.0198%	4h	2.1450	+0.126%	$7.7M	$48.1M	75x	as long as short
edgeX TRUMPUSDClong	−0.0188%	4h	2.1423	long leg	$105K	$253K	20x
KuCoin TRUMPUSDTM	−0.0182%	4h	2.1450	+0.126%	$4.3M	$10.1M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0176%	8h	2.1431	+0.037%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0133%	4h	2.1440	+0.079%	$4.3M	$658K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0096%	4h	2.1430	+0.033%	$5K	$294K	10x	as long as short
Bitget TRUMPUSDT	−0.0038%	4h	2.1450	+0.126%	$15.5M	$24.8M	75x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1426	+0.013%	$19K	—	3x	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1455	+0.151%	$25K	$3K	5x	as long as short
GRVT TRUMP_USDT_Perp	+0.0006%	4h	2.1455	+0.149%	$173K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1463	+0.188%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0023%	1h	2.1478	+0.258%	$1.4M	$2.1M	50x
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.826%	$13K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1467	+0.205%	$13.5M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1455	+0.150%	$405K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1444	+0.098%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1470	+0.219%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1470	+0.219%	$488K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1430	+0.033%	$245K	$549K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0156%	1h	2.1468	+0.210%	$384K	$390K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0213% / S −0.0214%	1h	2.1467	+0.204%	$11K	—	100x	as long as short