Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0188%/8h= +20.6% APRpaid last 24h +0.080%

Price spread now: Coinbase International against Gate+0.412%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$750.752% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 3 days (all we have)−0.435%−$44 · spread now +0.412%, 7d avg +0.052%

Together, before fees−0.337%−$34 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 Coinbase International is 0.360% dearer against Gate than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.052%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.098% in total (about 5.1% 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	Gate TRUMP_USDT	2.1860	0.0100	pay 0.0050% / 4h	2h 24m	$7.4M	$46.8M	75x
Short	Coinbase International TRUMP-PERP-INTX	2.1950	0.0288	get 0.0036% / 1h	24m 17s	$282K	$401K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. 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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.412%Rate

Funding earned: $39.48
Price spread: +0.412% → +0.052%: $35.95
Slippage, 4 orders: −$50.16
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $0.27
Costs to cover: 0.752%
Break-even: 7.0 days

Slippage from Gate: live order book, 5 min ago; Coinbase International: live order book, 63 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 Gate live order book, 5 min ago	4.59 bp	12.1 bp −$12	24.9 bp −$249	62.2 bp −$6,225	doesn't fit
Sell Coinbase International live order book, 63 min ago	9.15 bp	27.2 bp −$27	32.1 bp −$321	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	−0.1787%	1h	2.1710	−0.686%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1855	−0.025%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0130%	1h	2.1874	+0.063%	$1.1M	$2.1M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0070%	1h	2.1862	+0.009%	$410K	$79K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1859	−0.003%	$27K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1864	+0.020%	$41K	—	150x	as long as short
Lighter TRUMP	+0.0032%	1h	2.1847	−0.059%	$973K	$659K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1803	−0.259%	$119K	$247K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0075%	8h	2.1849	−0.052%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1850	−0.046%	$3K	$249K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1863	+0.012%	$458K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1870	+0.048%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1860	0.000%	$62.2M	$215.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1850	−0.046%	$30.4M	$42.1M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1860	0.000%	$26.7M	$147.6M	50x	as long as short
Gate TRUMP_USDTlong	+0.0100%	4h	2.1860	long leg	$7.4M	$46.8M	75x
MEXC TRUMP_USDC	+0.0100%	4h	2.1840	−0.091%	$480K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1860	0.000%	$4.7M	$10.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1860	0.000%	$15.5M	$20.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1844	−0.072%	$680K	$262K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1830	−0.137%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1880	+0.091%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1855	−0.023%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	+0.091%	$513K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1853	−0.033%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1844	−0.072%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0135%	1h	2.1879	+0.089%	$14.1M	$7.4M	10x	as long as short
Backpack TRUMP_USDC_PERP	+0.0202%	1h	2.1884	+0.110%	$259K	$261K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1862	+0.009%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0288%	1h	2.1950	+0.412%	$282K	$401K	50x
BloFin TRUMP-USDT	+0.0340%	4h	2.1840	−0.091%	$4.1M	$495K	75x	as long as short