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: SunX against Injective+0.410%7-day average +0.154% · you sell dearer than you buy

Net, funding: paid 7d − costs−$194as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2512.515% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.575%+$58 on $10k

Price spread, last 3 days (all we have)−0.391%−$39 · spread now +0.410%, 7d avg +0.154%

Together, before fees+0.184%+$18 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 SunX is 0.256% dearer against Injective than usual: you sell high and buy low: +$26 more if the spread goes back to its 7-day average of +0.154%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.575% in total (about 30.0% 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	2.1960	−0.1608	get 0.0201% / 1h	32m 47s	$13K	$157K	12x
Short	SunX TRUMP-USDT	2.2050	0.0100	get 0.0050% / 4h	3h 32m	$2K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.410%Rate

Funding earned: $358.61
Price spread: +0.410% → +0.154%: $25.57
Slippage, 4 orders: −$243.48
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $132.69
Costs to cover: 2.515%
Break-even: 4.4 days

Slippage from Injective: live order book, 26 min ago; SunX: live order book, 12 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, 26 min ago	41.26 bp	55.0 bp −$55	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 12 min ago	32.15 bp	93.0 bp −$93	doesn't fit	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	−0.1608%	1h	2.1960	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2042	+0.372%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.439%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2030	+0.319%	$413K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2035	+0.342%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1969	+0.041%	$120K	$250K	20x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2030	+0.319%	$981K	$766K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0096%	4h	2.2020	+0.273%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2071	+0.504%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2062	+0.463%	$459K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2086	+0.574%	$190K	$58K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2040	+0.366%	$63.0M	$222.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2030	+0.319%	$30.9M	$44.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2030	+0.319%	$27.2M	$153.8M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2050	+0.410%	$7.6M	$47.2M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2040	+0.364%	$478K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2070	+0.501%	$4.2M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2050	+0.410%	$16.1M	$22.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1972	+0.053%	$706K	$443K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1990	+0.136%	$180K	$4.5M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.2050	+0.410%	$2K	$1.5M	50x
SoDEX TRUMP-USD	+0.0100%	1h	2.2035	+0.342%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2060	+0.455%	$557K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2040	+0.366%	$79K	$619K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2015	+0.250%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0198%	1h	2.2080	+0.546%	$14.2M	$6.6M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2028	+0.310%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2040	+0.364%	$4.2M	$629K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0452%	1h	2.2081	+0.551%	$258K	$278K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1790	−0.774%	$283K	$272K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0781%	1h	2.2072	+0.508%	$1.3M	$2.5M	50x	as long as short