TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1733%/8h= −189.8% APRnext payment −$2.17 per $10,000 · paid last 24h −0.516%

Price spread now: Injective against Extended−0.501%100s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$154as 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−$1171.172% of the position

Long on Extended Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.366%−$37 on $10k

Price spread, last 4 days (all we have)+0.195%+$20 · spread now −0.501%, 7d avg −0.012%

Together, before fees−0.171%+ Points / potential airdropExtended: Active · farm board−$17 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 0.489% cheaper against Extended than usual: you would sell low and buy high (−$49 if the spread goes back to its 7-day average of −0.012%). Swap the legs. The two prices were read 100 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 -0.366% in total (about -19.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.17 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	Extended TRUMP-USD	2.1779	−0.0032	get 0.0004% / 1h	49m 33s	$75K	$722K	25x
Short	Injective TRUMP/USDC PERP	2.1670	−0.1765	pay 0.0221% / 1h	49m 33s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Extended. 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 ExtendedbpFee InjectivebpOrdersPrice spread, now −0.501%Rate

Funding earned: −$363.97
Price spread: −0.501% → −0.012%: −$48.86
Slippage, 4 orders: −$112.22
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$530.06
Costs to cover: 1.172%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; Injective: live order book, 54 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 Extended live order book, 3 min ago	6.89 bp	9.8 bp −$10	32.1 bp −$321	doesn't fit	doesn't fit
Sell Injective live order book, 54 min ago	48.76 bp	48.8 bp −$49	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	2.1670	−0.501%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1782	+0.012%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0033%	4h	2.1800	+0.096%	$61.4M	$243.3M	75x	as long as short
Extended TRUMP-USDlong	−0.0032%	1h	2.1779	long leg	$75K	$722K	25x
edgeX TRUMPUSDC	−0.0015%	4h	2.1745	−0.155%	$106K	$264K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1816	+0.171%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1799	+0.092%	$410K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1794	+0.069%	$41K	—	150x	as long as short
Variational Omni TRUMP	+0.0014%	4h	2.1781	+0.010%	$676K	$514K	—	as long as short
SoDEX TRUMP-USD	+0.0017%	1h	2.1790	+0.050%	$95	$6K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0041%	4h	2.1780	+0.005%	$4K	$180K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0044%	8h	2.1790	+0.049%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1803	+0.111%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1793	+0.064%	$965K	$959K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1816	+0.170%	$13.8M	$7.9M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1808	+0.135%	$427K	$814K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1796	+0.078%	$187K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1790	+0.050%	$30.8M	$49.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1790	+0.050%	$27.6M	$177.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1800	+0.096%	$7.8M	$50.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1790	+0.050%	$409K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1810	+0.142%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1790	+0.050%	$15.8M	$25.8M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1815	+0.166%	$187K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1810	+0.142%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1810	+0.142%	$512K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1798	+0.089%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1821	+0.194%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0210%	4h	2.1750	−0.133%	$4.2M	$683K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1520	−1.189%	$278K	$275K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0439%	1h	2.1831	+0.239%	$343K	$375K	10x	as long as short