TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1430%/8h= +156.5% APRnext payment +$1.79 per $10,000 · paid last 24h +0.490%

Price spread now: Deribit against Injective+0.401%7-day average +0.104% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as in the Funding arb table

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

costs, in and out, $10k−$1161.162% of the position

Long on Injective Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.357%+$36 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now +0.401%, 7d avg +0.104%

Together, before fees+0.312%+$31 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$43 a day on $10k at the current rate, and Deribit is 0.296% dearer against Injective than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.104%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.357% in total (about 18.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.79 per $10,000. 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	2.1470	−0.1829	get 0.0229% / 1h	46m 26s	$13K	$157K	12x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1556	−0.0399	pay 0.0050% / 1h	46m 26s	$406K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.401%Rate

Funding earned: $300.21
Price spread: +0.401% → +0.104%: $29.65
Slippage, 4 orders: −$109.22
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $213.62
Costs to cover: 1.162%
Break-even: 2.0 days

Slippage from Injective: live order book, 38 min ago; Deribit: live order book, 52 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, 38 min ago	35.19 bp	56.3 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 52 min ago	8.85 bp	12.4 bp −$12	21.6 bp −$216	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	−0.1829%	1h	2.1470	long leg	$13K	$157K	12x
SoDEX TRUMP-USD	−0.0536%	1h	2.1545	+0.349%	$72	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0399%	1h	2.1556	+0.401%	$406K	$65K	10x
Variational Omni TRUMP	−0.0310%	4h	2.1561	+0.426%	$663K	$421K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	+0.334%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1555	+0.394%	$74K	$494K	25x	as long as short
Binance TRUMPUSDT	−0.0223%	4h	2.1540	+0.326%	$61.0M	$246.9M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0222%	4h	2.1550	+0.373%	$27.0M	$183.6M	50x	as long as short
Lighter TRUMP	−0.0160%	1h	2.1558	+0.410%	$942K	$988K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1510	+0.186%	$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	−0.0130%	8h	2.1563	+0.434%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0108%	4h	2.1541	+0.332%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0092%	4h	2.1540	+0.326%	$5K	$291K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0006%	4h	2.1560	+0.419%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1578	+0.503%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1566	+0.447%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0019%	4h	2.1520	+0.233%	$4.2M	$688K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1529	+0.274%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0030%	4h	2.1540	+0.326%	$181K	$4.3M	10x	as long as short
Bitget TRUMPUSDT	+0.0046%	4h	2.1550	+0.373%	$15.4M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1574	+0.484%	$13.7M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1572	+0.474%	$405K	$718K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1573	+0.480%	$186K	$54K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1550	+0.373%	$30.8M	$52.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1550	+0.373%	$7.7M	$49.6M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1560	+0.419%	$401K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1610	+0.652%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1570	+0.466%	$503K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1577	+0.497%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1566	+0.449%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0359%	1h	2.1596	+0.587%	$383K	$420K	10x	as long as short