Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1817%/8h= +199.0% APRpaid last 24h +0.519%

Price spread now: GRVT against Injective+0.620%7-day average −0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$1181.178% of the position

Long on Injective Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.395%+$40 on $10k

Price spread, last 4 days (all we have)−0.521%−$52 · spread now +0.620%, 7d avg −0.027%

Together, before fees−0.126%+ Points / potential airdropGRVT: Active · farm board−$13 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 GRVT is 0.646% dearer against Injective than usual: you sell high and buy low: +$65 more if the spread goes back to its 7-day average of −0.027%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.395% in total (about 20.6% 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	2.1300	−0.1827	get 0.0228% / 1h	14m 05s	$12K	$157K	12x
Short	GRVT TRUMP_USDT_Perp	2.1432	−0.0010	pay 0.0005% / 4h	2h 14m	$173K	$4.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.620%Rate

Funding earned: $381.67
Price spread: +0.620% → −0.027%: $64.63
Slippage, 4 orders: −$108.75
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $328.53
Costs to cover: 1.178%
Break-even: 1.0 days

Slippage from Injective: live order book, 20 min ago; GRVT: 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	42.51 bp	51.9 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	2.33 bp	15.3 bp −$15	25.0 bp −$250	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	−0.1827%	1h	2.1300	long leg	$12K	$157K	12x
Lighter TRUMP	−0.0400%	1h	2.1460	+0.751%	$948K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0351%	1h	2.1465	+0.775%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0310%	4h	2.1470	+0.798%	$30.4M	$51.9M	50x	as long as short
Binance TRUMPUSDT	−0.0280%	4h	2.1470	+0.798%	$60.5M	$250.8M	75x	as long as short
Extended TRUMP-USD	−0.0280%	1h	2.1459	+0.748%	$74K	$744K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1452	+0.712%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0221%	4h	2.1411	+0.523%	$661K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0204%	8h	2.1454	+0.721%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0169%	1h	2.1470	+0.798%	$404K	$72K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0150%	4h	2.1470	+0.798%	$7.7M	$53.6M	75x	as long as short
edgeX TRUMPUSDC	−0.0139%	4h	2.1419	+0.561%	$104K	$265K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0080%	4h	2.1470	+0.798%	$27.0M	$182.7M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0057%	4h	2.1460	+0.751%	$5K	$225K	10x	as long as short
BloFin TRUMP-USDT	−0.0040%	4h	2.1430	+0.610%	$4.1M	$690K	75x	as long as short
dYdX TRUMP-USD	−0.0019%	1h	2.1456	+0.731%	$27K	$506	5x	as long as short
GRVT TRUMP_USDT_Perpshort	−0.0010%	4h	2.1432	+0.620%	$173K	$4.7M	10x
Aevo TRUMP-PERP	+0.0008%	1h	2.1444	+0.677%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1476	+0.827%	$40K	—	150x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1482	+0.854%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1469	+0.793%	$404K	$772K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1447	+0.691%	$184K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1470	+0.798%	$400K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1470	+0.798%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1480	+0.845%	$15.4M	$26.8M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1480	+0.845%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	+0.939%	$481K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1472	+0.809%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0198%	1h	2.1491	+0.899%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0233%	1h	2.1501	+0.944%	$382K	$411K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1480	+0.845%	$237K	$357K	50x	as long as short