TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1936%/8h= +212.0% APRnext payment +$2.42 per $10,000 · paid last 24h +0.513%

Price spread now: Kraken Futures against Injective+0.858%63s7-day average +0.147% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as 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−$1351.350% of the position

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.319%+$32 on $10k

Price spread, last 4 days (all we have)−0.472%−$47 · spread now +0.858%, 7d avg +0.147%

Together, before fees−0.152%−$15 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 Kraken Futures is 0.711% dearer against Injective than usual: you sell high and buy low: +$71 more if the spread goes back to its 7-day average of +0.147%. The two prices were read 63 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 0.319% in total (about 16.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.42 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	2.1690	−0.1765	get 0.0221% / 1h	47m 32s	$13K	$157K	12x
Short	Kraken Futures PF_TRUMPUSD	2.1876	0.0171	get 0.0021% / 1h	47m 32s	$1.3M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.858%Rate

Funding earned: $406.61
Price spread: +0.858% → +0.147%: $71.13
Slippage, 4 orders: −$124.99
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $342.72
Costs to cover: 1.350%
Break-even: 1.1 days

Slippage from Injective: live order book, 56 min ago; Kraken Futures: 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, 56 min ago	48.76 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	4.57 bp	17.8 bp −$18	36.1 bp −$361	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	−0.1765%	1h	2.1690	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1821	+0.606%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0036%	4h	2.1830	+0.645%	$61.6M	$243.9M	75x	as long as short
Extended TRUMP-USD	−0.0032%	1h	2.1809	+0.549%	$75K	$722K	25x	as long as short
SoDEX TRUMP-USD	−0.0026%	1h	2.1850	+0.738%	$95	$6K	5x	as long as short
edgeX TRUMPUSDC	−0.0016%	4h	2.1774	+0.389%	$106K	$264K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1840	+0.692%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1856	+0.765%	$411K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1838	+0.682%	$41K	—	150x	as long as short
Variational Omni TRUMP	+0.0014%	4h	2.1781	+0.420%	$676K	$514K	—	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	+0.0034%	4h	2.1830	+0.645%	$7.8M	$50.9M	75x	as long as short
Orderly PERP_TRUMP_USDC	+0.0040%	4h	2.1850	+0.738%	$4K	$178K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0041%	8h	2.1822	+0.607%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1840	+0.692%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1820	+0.599%	$966K	$959K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1843	+0.705%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1841	+0.694%	$428K	$816K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1820	+0.599%	$188K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1820	+0.599%	$30.8M	$49.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1820	+0.599%	$27.8M	$178.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1830	+0.645%	$410K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1840	+0.692%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1830	+0.645%	$15.8M	$25.9M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1800	+0.507%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1870	+0.830%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.830%	$510K	$2.3M	50x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0171%	1h	2.1876	+0.858%	$1.3M	$2.2M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1867	+0.815%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0207%	4h	2.1760	+0.323%	$4.2M	$683K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1520	−0.784%	$278K	$275K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0469%	1h	2.1889	+0.917%	$344K	$375K	10x	as long as short