Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h +0.007%

Price spread now: Kraken Futures against Gate+0.039%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$630.632% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now +0.039%, 7d avg +0.067%

Together, before fees−0.119%−$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.027% cheaper against Gate than usual: you would sell low and buy high (spread +0.039% now, against its 7-day average of +0.067%). If the spread goes back, that is −$3 on $10k: about 6 hours of funding at the current rate (+$10 a day). Mind the row above: over the last 7 days funding on this pair cost −0.180%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.180% in total (about -9.4% 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	2.1230	−0.0140	get 0.0070% / 4h	2h 31m	$7.6M	$53.1M	75x
Short	Kraken Futures PF_TRUMPUSD	2.1238	0.0200	get 0.0025% / 1h	31m 05s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.039%Rate

Funding earned: $71.42
Price spread: +0.039% → +0.067%: −$2.73
Slippage, 4 orders: −$38.21
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $5.48
Costs to cover: 0.632%
Break-even: 6.5 days

Slippage from Gate: live order book, 3 min ago; Kraken Futures: live order book, 3 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, 3 min ago	2.36 bp	13.6 bp −$14	22.8 bp −$228	63.6 bp −$6,356	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.71 bp	21.3 bp −$21	37.7 bp −$377	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	−0.1827%	1h	2.1120	−0.518%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1219	−0.052%	$938K	$997K	10x	as long as short
SoDEX TRUMP-USD	−0.0467%	1h	2.1215	−0.071%	$83	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0320%	4h	2.1230	0.000%	$30.0M	$51.6M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0268%	1h	2.1225	−0.024%	$400K	$72K	10x	as long as short
Extended TRUMP-USD	−0.0264%	1h	2.1209	−0.097%	$76K	$746K	25x	as long as short
Binance TRUMPUSDT	−0.0264%	4h	2.1240	+0.047%	$59.8M	$249.8M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1212	−0.086%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0227%	8h	2.1226	−0.019%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0153%	4h	2.1322	+0.432%	$658K	$427K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDTlong	−0.0140%	4h	2.1230	long leg	$7.6M	$53.1M	75x
edgeX TRUMPUSDC	−0.0125%	4h	2.1187	−0.202%	$103K	$265K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0056%	4h	2.1240	+0.047%	$26.5M	$179.6M	50x	as long as short
GRVT TRUMP_USDT_Perp	−0.0048%	4h	2.1200	−0.141%	$175K	$4.7M	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0039%	4h	2.1210	−0.094%	$5K	$220K	10x	as long as short
BloFin TRUMP-USDT	−0.0024%	4h	2.1200	−0.141%	$4.1M	$680K	75x	as long as short
dYdX TRUMP-USD	−0.0017%	1h	2.1246	+0.074%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1235	+0.024%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1163	−0.317%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1248	+0.085%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1240	+0.047%	$399K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1226	−0.021%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1220	−0.047%	$395K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1220	−0.047%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1230	0.000%	$15.2M	$26.6M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1250	+0.094%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1250	+0.094%	$479K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1231	+0.004%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0177%	1h	2.1265	+0.165%	$380K	$409K	10x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0200%	1h	2.1238	+0.039%	$1.3M	$2.3M	50x
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1230	0.000%	$254K	$318K	50x	as long as short