Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1865%/8h= +204.2% APRpaid last 24h +0.517%

Price spread now: Gate against Injective+0.558%54s7-day average +0.056% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as 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−$1251.250% of the position

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.513%+$51 on $10k

Price spread, last 4 days (all we have)−0.226%−$23 · spread now +0.558%, 7d avg +0.056%

Together, before fees+0.286%+$29 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$56 a day on $10k at the current rate, and Gate is 0.502% dearer against Injective than usual: you sell high and buy low: +$50 more if the spread goes back to its 7-day average of +0.056%. The two prices were read 54 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 0.513% in total (about 26.7% 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	Injective TRUMP/USDC PERP	2.1490	−0.1765	get 0.0221% / 1h	56m 15s	$13K	$157K	12x
Short	Gate TRUMP_USDT	2.1610	0.0100	get 0.0050% / 4h	3h 56m	$7.6M	$50.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.558%Rate

Funding earned: $391.69
Price spread: +0.558% → +0.056%: $50.23
Slippage, 4 orders: −$109.98
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $316.91
Costs to cover: 1.250%
Break-even: 1.3 days

Slippage from Injective: live order book, 48 min ago; Gate: 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 Injective live order book, 48 min ago	48.76 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.32 bp	11.8 bp −$12	31.9 bp −$319	71.9 bp −$7,190	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	−0.1765%	1h	2.1490	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	+0.379%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0074%	1h	2.1635	+0.675%	$94	$6K	5x	as long as short
Extended TRUMP-USD	−0.0032%	1h	2.1634	+0.671%	$74K	$724K	25x	as long as short
Binance TRUMPUSDT	−0.0029%	4h	2.1641	+0.703%	$60.8M	$243.0M	75x	as long as short
Variational Omni TRUMP	−0.0021%	4h	2.1561	+0.331%	$666K	$488K	—	as long as short
edgeX TRUMPUSDC	−0.0013%	4h	2.1563	+0.340%	$105K	$263K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1586	+0.447%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1645	+0.721%	$407K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1615	+0.581%	$41K	—	150x	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	+0.0041%	8h	2.1576	+0.399%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0042%	4h	2.1620	+0.605%	$4K	$186K	10x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1633	+0.664%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0080%	1h	2.1639	+0.693%	$957K	$958K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1599	+0.507%	$13.7M	$7.9M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1593	+0.479%	$423K	$793K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1582	+0.429%	$186K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1640	+0.698%	$30.7M	$49.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1620	+0.605%	$27.3M	$174.7M	50x	as long as short
Gate TRUMP_USDTshort	+0.0100%	4h	2.1610	+0.558%	$7.6M	$50.3M	75x
MEXC TRUMP_USDC	+0.0100%	4h	2.1580	+0.419%	$406K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	+0.465%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1640	+0.698%	$15.6M	$25.7M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1555	+0.302%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.512%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1660	+0.791%	$514K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1608	+0.550%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0173%	1h	2.1665	+0.813%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0212%	4h	2.1610	+0.558%	$4.1M	$682K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0387%	1h	2.1623	+0.619%	$340K	$370K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1520	+0.140%	$278K	$275K	50x	as long as short