Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0524%/8h= +57.4% APRpaid last 24h +0.084%

Price spread now: Coinbase International against HTX+0.089%7-day average −0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$920.925% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.033%+$3 on $10k

Price spread, last 3 days (all we have)−0.108%−$11 · spread now +0.089%, 7d avg −0.019%

Together, before fees−0.075%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Coinbase International is 0.108% dearer against HTX than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of −0.019%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.033% in total (about 1.7% 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	HTX TRUMP-USDT	2.2510	0.0100	pay 0.0050% / 4h	3h 07m	$584K	$1.9M	50x
Short	Coinbase International TRUMP-PERP-INTX	2.2530	0.0624	get 0.0078% / 1h	7m 39s	$294K	$253K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now +0.089%Rate

Funding earned: $110.04
Price spread: +0.089% → −0.019%: $10.76
Slippage, 4 orders: −$70.49
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $28.31
Costs to cover: 0.925%
Break-even: 5.2 days

Slippage from HTX: live order book, 6 min ago; Coinbase International: live order book, 65 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 HTX live order book, 6 min ago	8.86 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 65 min ago	13.72 bp	22.4 bp −$22	24.9 bp −$249	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	−0.1608%	1h	2.2390	−0.533%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2462	−0.215%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2436	−0.328%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2477	−0.147%	$421K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2495	−0.066%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2475	−0.157%	$109K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0089%	8h	2.2434	−0.336%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.2470	−0.178%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2435	−0.333%	$995K	$782K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2440	−0.312%	$468K	$837K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2445	−0.289%	$195K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2440	−0.311%	$64.8M	$227.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2440	−0.311%	$31.8M	$45.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2430	−0.355%	$28.5M	$162.4M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2430	−0.355%	$8.0M	$48.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2420	−0.400%	$483K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2450	−0.267%	$4.4M	$10.7M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2450	−0.267%	$16.3M	$22.6M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2451	−0.261%	$714K	$441K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2500	−0.044%	$186K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2490	−0.089%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2450	−0.267%	$81	$6K	5x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.2510	long leg	$584K	$1.9M	50x
Extended TRUMP-USD	+0.0104%	1h	2.2430	−0.356%	$80K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2479	−0.139%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0114%	1h	2.2465	−0.200%	$14.6M	$6.6M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2498	−0.052%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2460	−0.222%	$4.3M	$680K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0465%	1h	2.2480	−0.133%	$263K	$301K	10x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0624%	1h	2.2530	+0.089%	$294K	$253K	50x
Kraken Futures PF_TRUMPUSD	+0.0767%	1h	2.2475	−0.156%	$1.3M	$2.6M	50x	as long as short