Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.1857%/8h= −203.3% APRpaid last 24h −0.528%

Price spread now: Injective against GRVT−0.325%7-day average +0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$161as in the Funding arb table

Net, price: spread back to 7d avg − costs−$147as in the Price arb table

costs, in and out, $10k−$1141.138% of the position

Long on GRVT Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.472%−$47 on $10k

Price spread, last 4 days (all we have)−0.053%−$5 · spread now −0.325%, 7d avg +0.003%

Together, before fees−0.524%+ Points / potential airdropGRVT: Active · farm board−$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$56 a day on $10k at the current rate, and Injective is 0.329% cheaper against GRVT than usual: you would sell low and buy high (−$33 if the spread goes back to its 7-day average of +0.003%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.472% in total (about -24.6% 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	GRVT TRUMP_USDT_Perp	2.1510	0.0028	pay 0.0014% / 4h	3h 48m	$181K	$4.3M	10x
Short	Injective TRUMP/USDC PERP	2.1440	−0.1829	pay 0.0229% / 1h	48m 40s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against GRVT. 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 GRVTbpFee InjectivebpOrdersPrice spread, now −0.325%Rate

Funding earned: −$389.89
Price spread: −0.325% → +0.003%: −$32.87
Slippage, 4 orders: −$104.75
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$536.53
Costs to cover: 1.138%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; Injective: live order book, 35 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 GRVT live order book, 5 min ago	4.66 bp	9.2 bp −$9	24.8 bp −$248	doesn't fit	doesn't fit
Sell Injective live order book, 35 min ago	35.19 bp	35.2 bp −$35	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	−0.1829%	1h	2.1440	−0.325%	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0515%	1h	2.1545	+0.163%	$72	$6K	5x	as long as short
Variational Omni TRUMP	−0.0310%	4h	2.1561	+0.239%	$663K	$421K	—	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0260%	1h	2.1565	+0.256%	$406K	$65K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	+0.147%	$5	—	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0224%	4h	2.1540	+0.139%	$27.0M	$183.5M	50x	as long as short
Binance TRUMPUSDT	−0.0221%	4h	2.1540	+0.139%	$61.0M	$247.6M	75x	as long as short
Extended TRUMP-USD	−0.0216%	1h	2.1540	+0.138%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0168%	1h	2.1540	+0.139%	$942K	$988K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	0.000%	$168K	$473K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0135%	8h	2.1536	+0.121%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0106%	4h	2.1482	−0.130%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0090%	4h	2.1550	+0.186%	$5K	$292K	10x	as long as short
Bybit TRUMPUSDT	−0.0057%	4h	2.1550	+0.186%	$30.8M	$52.0M	50x	as long as short
KuCoin TRUMPUSDTM	−0.0014%	4h	2.1550	+0.186%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1557	+0.219%	$27K	$501	5x	as long as short
Gate TRUMP_USDT	−0.0004%	4h	2.1550	+0.186%	$7.7M	$49.5M	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1570	+0.279%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0021%	4h	2.1530	+0.093%	$4.2M	$689K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1537	+0.127%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perplong	+0.0028%	4h	2.1510	long leg	$181K	$4.3M	10x
Bitget TRUMPUSDT	+0.0048%	4h	2.1560	+0.232%	$15.4M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1563	+0.246%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1557	+0.219%	$404K	$718K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1563	+0.246%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	+0.093%	$400K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1590	+0.372%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1560	+0.232%	$502K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1577	+0.310%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1570	+0.278%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0329%	1h	2.1585	+0.349%	$383K	$420K	10x	as long as short