Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1709%/8h= +187.2% APRpaid last 24h +0.518%

Price spread now: Orderly against Injective+0.503%58s7-day average +0.045% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.451%+$45 on $10k

Price spread, last 3 days (all we have)−0.725%−$72 · spread now +0.503%, 7d avg +0.045%

Together, before fees−0.273%−$27 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 Orderly is 0.458% dearer against Injective than usual: you sell high and buy low: +$46 more if the spread goes back to its 7-day average of +0.045%. The two prices were read 58 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 0.451% in total (about 23.5% 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	2.1890	−0.1623	get 0.0203% / 1h	22m 20s	$13K	$157K	12x
Short	Orderly PERP_TRUMP_USDC	2.2000	0.0086	get 0.0043% / 4h	2h 22m	$4K	$239K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.503%Rate

Funding earned: $358.92
Price spread: +0.503% → +0.045%: $45.77
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $398.68
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 32 min ago; Orderly: no order-book sample. Net counts fees only.

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, 32 min ago	47.63 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TRUMP on 30 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	−0.1623%	1h	2.1890	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2026	+0.623%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0062%	4h	2.2010	+0.548%	$7.8M	$49.2M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2036	+0.667%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2006	+0.530%	$414K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2005	+0.523%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2025	+0.616%	$107K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0073%	8h	2.2049	+0.724%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0075%	1h	2.1990	+0.457%	$78	$6K	5x	as long as short
Orderly PERP_TRUMP_USDCshort	+0.0086%	4h	2.2000	+0.503%	$4K	$239K	10x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.1984	+0.429%	$978K	$790K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2057	+0.763%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2050	+0.730%	$436K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2037	+0.673%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1990	+0.457%	$64.0M	$235.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1990	+0.457%	$31.6M	$48.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2000	+0.503%	$29.0M	$170.6M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2030	+0.640%	$438K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2030	+0.640%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2010	+0.548%	$15.8M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2081	+0.874%	$696K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2043	+0.698%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2020	+0.594%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2040	+0.685%	$558K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1989	+0.453%	$76K	$597K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1985	+0.436%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2006	+0.529%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0288%	1h	2.2018	+0.585%	$258K	$319K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0513%	1h	2.2017	+0.580%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2020	+0.594%	$286K	$305K	50x	as long as short