Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.1929%/8h= +211.2% APRpaid last 24h +0.528%

Price spread now: HTX against Injective+0.420%7-day average +0.183% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1311.305% of the position

Long on Injective Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.685%+$68 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.420%, 7d avg +0.183%

Together, before fees+0.550%+$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$58 a day on $10k at the current rate, and HTX is 0.237% dearer against Injective than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.183%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.685% in total (about 35.7% 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	2.1430	−0.1829	get 0.0229% / 1h	42m 50s	$12K	$157K	12x
Short	HTX TRUMP-USDT	2.1520	0.0100	get 0.0050% / 4h	3h 42m	$501K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.420%Rate

Funding earned: $405.01
Price spread: +0.420% → +0.183%: $23.74
Slippage, 4 orders: −$118.5
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee HTX: 6 bp × 2 orders: −$12
Net: $298.22
Costs to cover: 1.305%
Break-even: 1.8 days

Slippage from Injective: live order book, 41 min ago; HTX: live order book, 1 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, 41 min ago	35.19 bp	56.3 bp −$56	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	4.64 bp	24.0 bp −$24	49.9 bp −$499	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	2.1430	long leg	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0635%	1h	2.1485	+0.257%	$71	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0540%	1h	2.1500	+0.327%	$389K	$81K	10x	as long as short
Variational Omni TRUMP	−0.0275%	4h	2.1541	+0.520%	$664K	$415K	—	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1482	+0.241%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0236%	4h	2.1483	+0.247%	$61.0M	$246.9M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0235%	4h	2.1490	+0.280%	$26.9M	$183.0M	50x	as long as short
Extended TRUMP-USD	−0.0232%	1h	2.1490	+0.278%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0216%	1h	2.1490	+0.280%	$939K	$988K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0142%	8h	2.1491	+0.284%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1480	+0.233%	$168K	$472K	50x	as long as short
edgeX TRUMPUSDC	−0.0111%	4h	2.1536	+0.496%	$105K	$254K	20x	as long as short
Gate TRUMP_USDT	−0.0100%	4h	2.1510	+0.373%	$7.7M	$49.6M	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0094%	4h	2.1490	+0.280%	$5K	$291K	10x	as long as short
Bybit TRUMPUSDT	−0.0088%	4h	2.1480	+0.233%	$30.7M	$51.9M	50x	as long as short
KuCoin TRUMPUSDTM	−0.0008%	4h	2.1500	+0.327%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1536	+0.496%	$27K	$501	5x	as long as short
GRVT TRUMP_USDT_Perp	0.0000%	4h	2.1549	+0.557%	$181K	$4.3M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1515	+0.397%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0010%	4h	2.1480	+0.233%	$4.2M	$687K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1471	+0.193%	$19K	—	3x	as long as short
Bitget TRUMPUSDT	+0.0042%	4h	2.1500	+0.327%	$15.3M	$26.6M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1515	+0.398%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1513	+0.386%	$404K	$719K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1494	+0.300%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1490	+0.280%	$400K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1530	+0.467%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1520	+0.420%	$501K	$2.5M	50x
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1518	+0.412%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1513	+0.386%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0343%	1h	2.1529	+0.462%	$382K	$420K	10x	as long as short