Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1842%/8h= +201.7% APRpaid last 24h +0.573%

Price spread now: BloFin against Injective+0.417%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$1201.205% of the position

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.869%+$87 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.417%, 7d avg +0.083%

Together, before fees+0.785%+$79 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$55 a day on $10k at the current rate, and BloFin is 0.334% dearer against Injective than usual: you sell high and buy low: +$33 more if the spread goes back to its 7-day average of +0.083%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.869% in total (about 45.3% 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	2.1600	−0.1841	get 0.0230% / 1h	58m 39s	$13K	$157K	12x
Short	BloFin TRUMP-USDT	2.1690	0.0001	get 0.0000% / 4h	2h 58m	$4.3M	$692K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.417%Rate

Funding earned: $386.81
Price spread: +0.417% → +0.083%: $33.39
Slippage, 4 orders: −$108.45
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $299.72
Costs to cover: 1.205%
Break-even: 1.6 days

Slippage from Injective: live order book, 20 min ago; BloFin: live order book, 5 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, 20 min ago	39.23 bp	55.4 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	6.89 bp	12.9 bp −$13	18.0 bp −$180	39.2 bp −$3,920	167.7 bp −$83.9K

TRUMP on 32 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	−0.1841%	1h	2.1600	long leg	$13K	$157K	12x
Deribit TRUMP_USDC-PERPETUAL	−0.0395%	1h	2.1705	+0.486%	$390K	$73K	10x	as long as short
Bybit TRUMPUSDT	−0.0341%	4h	2.1680	+0.370%	$31.3M	$50.5M	50x	as long as short
Variational Omni TRUMP	−0.0335%	4h	2.1731	+0.606%	$675K	$419K	—	as long as short
SoDEX TRUMP-USD	−0.0302%	1h	2.1695	+0.440%	$69	$6K	5x	as long as short
Lighter TRUMP	−0.0272%	1h	2.1683	+0.384%	$943K	$967K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	+0.421%	$5	—	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0244%	4h	2.1680	+0.370%	$27.4M	$180.7M	50x	as long as short
Binance TRUMPUSDT	−0.0243%	4h	2.1680	+0.370%	$63.5M	$244.7M	75x	as long as short
Extended TRUMP-USD	−0.0240%	1h	2.1679	+0.366%	$77K	$492K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1680	+0.370%	$142K	$513K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0144%	8h	2.1689	+0.412%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0116%	4h	2.1747	+0.681%	$106K	$254K	20x	as long as short
Gate TRUMP_USDT	−0.0116%	4h	2.1690	+0.417%	$7.8M	$47.5M	75x	as long as short
dYdX TRUMP-USD	−0.0089%	1h	2.1714	+0.529%	$26K	$1K	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0081%	4h	2.1710	+0.509%	$5K	$319K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0052%	4h	2.1700	+0.463%	$4.2M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	−0.0004%	4h	2.1690	+0.417%	$15.4M	$26.0M	75x	as long as short
BloFin TRUMP-USDTshort	+0.0001%	4h	2.1690	+0.417%	$4.3M	$692K	75x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1764	+0.759%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0015%	1h	2.1739	+0.642%	$1.3M	$2.2M	50x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1685	+0.394%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0050%	4h	2.1670	+0.324%	$402K	$147K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1707	+0.495%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1703	+0.478%	$412K	$651K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1709	+0.505%	$187K	$54K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1734	+0.618%	$177K	$4.1M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1720	+0.556%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1690	+0.417%	$500K	$2.5M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1710	+0.509%	$3K	$29K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0153%	1h	2.1742	+0.657%	$387K	$412K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0170% / S −0.0143%	1h	2.1769	+0.782%	$10K	—	100x	as long as short