Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0670%/8h= +73.3% APRpaid last 24h −0.021%

Price spread now: Kraken Futures against HTX−0.038%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$830.830% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.320%−$32 on $10k

Price spread, last 3 days (all we have)+0.099%+$10 · spread now −0.038%, 7d avg −0.020%

Together, before fees−0.222%−$22 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, so right now this pair is about funding alone: +$20 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.320%, 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 -0.320% in total (about -16.7% 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	2.2400	0.0100	pay 0.0050% / 4h	3h 05m	$581K	$1.9M	50x
Short	Kraken Futures PF_TRUMPUSD	2.2391	0.0770	get 0.0096% / 1h	5m 29s	$1.3M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.038%Rate

Funding earned: $140.61
Price spread: −0.038% → −0.020%: −$1.76
Slippage, 4 orders: −$60.95
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $55.89
Costs to cover: 0.830%
Break-even: 4.2 days

Slippage from HTX: 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 HTX live order book, 3 min ago	8.88 bp	23.5 bp −$23	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.44 bp	19.4 bp −$19	34.9 bp −$349	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	2.2320	−0.357%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2371	−0.131%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0108%	1h	2.2326	−0.330%	$419K	$78K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2400	−0.001%	$28K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2345	−0.246%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2432	+0.143%	$109K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0086%	8h	2.2395	−0.023%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0094%	4h	2.2330	−0.313%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2390	−0.045%	$993K	$782K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2378	−0.098%	$467K	$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	2.2394	−0.029%	$194K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2370	−0.134%	$64.7M	$228.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2360	−0.179%	$31.7M	$45.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2360	−0.179%	$28.4M	$162.7M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2380	−0.089%	$8.0M	$49.0M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2370	−0.134%	$482K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2380	−0.089%	$4.4M	$10.7M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2380	−0.089%	$16.2M	$22.8M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2321	−0.353%	$710K	$441K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2470	+0.312%	$190K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2360	−0.179%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2355	−0.201%	$81	$6K	5x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.2400	long leg	$581K	$1.9M	50x
Extended TRUMP-USD	+0.0104%	1h	2.2359	−0.182%	$80K	$600K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2314	−0.386%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0110%	1h	2.2395	−0.022%	$14.6M	$6.6M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2340	−0.267%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2450	+0.223%	$4.4M	$675K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0456%	1h	2.2388	−0.054%	$265K	$302K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2440	+0.179%	$298K	$252K	50x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0770%	1h	2.2391	−0.038%	$1.3M	$2.6M	50x