Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.1708%/8h= +187.0% APRpaid last 24h +0.519%

Price spread now: OKX against Injective+0.322%88s7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as 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−$1141.136% of the position

Long on Injective Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.447%+$45 on $10k

Price spread, last 3 days (all we have)−0.204%−$20 · spread now +0.322%, 7d avg +0.011%

Together, before fees+0.243%+$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$51 a day on $10k at the current rate, and OKX is 0.311% dearer against Injective than usual: you sell high and buy low: +$31 more if the spread goes back to its 7-day average of +0.011%. The two prices were read 88 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 0.447% in total (about 23.3% 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	2.1730	−0.1608	get 0.0201% / 1h	53m 52s	$13K	$157K	12x
Short	OKX TRUMP-USDT-SWAP	2.1800	0.0100	get 0.0050% / 4h	3h 53m	$27.0M	$152.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.322%Rate

Funding earned: $358.61
Price spread: +0.322% → +0.011%: $31.1
Slippage, 4 orders: −$103.6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee OKX: 5 bp × 2 orders: −$10
Net: $276.09
Costs to cover: 1.136%
Break-even: 1.6 days

Slippage from Injective: live order book, 5 min ago; OKX: 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, 5 min ago	41.26 bp	55.0 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 5 min ago	2.29 bp	10.1 bp −$10	14.9 bp −$149	52.9 bp −$5,291	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	−0.1608%	1h	2.1730	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1802	+0.331%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1790	+0.276%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1813	+0.382%	$409K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1806	+0.351%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1825	+0.435%	$119K	$249K	20x	as long as short
Gate TRUMP_USDT	+0.0070%	4h	2.1800	+0.322%	$7.4M	$46.6M	75x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1800	+0.322%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1804	+0.341%	$977K	$706K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1811	+0.371%	$5K	—	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1817	+0.400%	$454K	$836K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1801	+0.325%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1800	+0.322%	$62.7M	$227.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1800	+0.322%	$30.5M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAPshort	+0.0100%	4h	2.1800	+0.322%	$27.0M	$152.8M	50x
MEXC TRUMP_USDC	+0.0100%	4h	2.1800	+0.322%	$472K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1800	+0.322%	$4.0M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1800	+0.322%	$15.4M	$22.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1832	+0.470%	$636K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1816	+0.398%	$186K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1830	+0.460%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1805	+0.345%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1840	+0.506%	$552K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1796	+0.302%	$75K	$463K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1807	+0.355%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0190%	1h	2.1836	+0.488%	$14.1M	$7.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1805	+0.347%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1780	+0.230%	$4.2M	$629K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0441%	1h	2.1831	+0.465%	$255K	$284K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2060	+1.519%	$285K	$388K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0789%	1h	2.1831	+0.463%	$1.3M	$2.5M	50x	as long as short