Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1897%/8h= +207.7% APRpaid last 24h +0.526%

Price spread now: Aster against Injective+0.560%97s7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1131.134% of the position

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.494%+$49 on $10k

Price spread, last 4 days (all we have)−0.748%−$75 · spread now +0.560%, 7d avg +0.095%

Together, before fees−0.254%+ Points / potential airdropAster: Stage 5 · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$57 a day on $10k at the current rate, and Aster is 0.465% dearer against Injective than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.095%. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.494% in total (about 25.8% 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	Injective TRUMP/USDC PERP	2.1440	−0.1797	get 0.0225% / 1h	41m 42s	$12K	$157K	12x
Short	Aster TRUMPUSDT	2.1560	0.0100	get 0.0050% / 4h	41m 42s	$404K	$779K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now +0.560%Rate

Funding earned: $398.3
Price spread: +0.560% → +0.095%: $46.48
Slippage, 4 orders: −$105.38
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: $331.38
Costs to cover: 1.134%
Break-even: 1.2 days

Slippage from Injective: live order book, 47 min ago; Aster: live order book, 61 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 Injective live order book, 47 min ago	39.78 bp	53.8 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 61 min ago	4.67 bp	9.8 bp −$10	27.6 bp −$276	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 PERPlong	−0.1797%	1h	2.1440	long leg	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0246%	1h	2.1555	+0.536%	$83	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1551	+0.519%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0163%	4h	2.1550	+0.513%	$61.0M	$251.3M	75x	as long as short
Extended TRUMP-USD	−0.0160%	1h	2.1539	+0.463%	$74K	$493K	25x	as long as short
Lighter TRUMP	−0.0152%	1h	2.1533	+0.434%	$941K	$1.0M	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0143%	4h	2.1540	+0.466%	$26.8M	$184.9M	50x	as long as short
Variational Omni TRUMP	−0.0137%	4h	2.1551	+0.517%	$665K	$423K	—	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0121%	1h	2.1567	+0.592%	$406K	$81K	10x	as long as short
Gate TRUMP_USDT	−0.0084%	4h	2.1550	+0.513%	$7.7M	$53.1M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0081%	4h	2.1551	+0.517%	$105K	$255K	20x	as long as short
Bybit TRUMPUSDT	−0.0071%	4h	2.1550	+0.513%	$30.7M	$52.4M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0061%	8h	2.1541	+0.472%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0051%	4h	2.1550	+0.513%	$5K	$268K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1556	+0.540%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1575	+0.628%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1540	+0.466%	$19K	—	3x	as long as short
KuCoin TRUMPUSDTM	+0.0054%	4h	2.1550	+0.513%	$4.2M	$10.9M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1540	+0.466%	$171K	$466K	50x	as long as short
BloFin TRUMP-USDT	+0.0080%	4h	2.1510	+0.326%	$4.1M	$704K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1568	+0.597%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDTshort	+0.0100%	4h	2.1560	+0.560%	$404K	$779K	20x
Pacifica TRUMP	+0.0100%	1h	2.1544	+0.487%	$185K	$53K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	+0.420%	$400K	$147K	125x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1550	+0.513%	$15.3M	$27.1M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1550	+0.513%	$173K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.653%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.653%	$485K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0098%	1h	2.1569	+0.602%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0339%	1h	2.1588	+0.690%	$385K	$419K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0596%	1h	2.1583	+0.669%	$1.3M	$2.3M	50x	as long as short