Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0188%/8h= −20.5% APRpaid last 24h +0.011%

Price spread now: Aster against Kraken Futures−0.228%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$560.565% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.124%+$12 on $10k

Price spread, last 4 days (all we have)+0.398%+$40 · spread now −0.228%, 7d avg −0.054%

Together, before fees+0.522%+ Points / potential airdropAster: Stage 5 · farm board+$52 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Aster is 0.174% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.054%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.124%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.124% in total (about 6.5% 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	Kraken Futures PF_TRUMPUSD	2.1820	0.0288	pay 0.0036% / 1h	12m 45s	$1.3M	$2.2M	50x
Short	Aster TRUMPUSDT	2.1770	0.0100	get 0.0050% / 4h	1h 12m	$430K	$827K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. 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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now −0.228%Rate

Funding earned: −$39.38
Price spread: −0.228% → −0.054%: −$17.43
Slippage, 4 orders: −$38.48
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$113.29
Costs to cover: 0.565%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Aster: live order book, 50 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 Kraken Futures live order book, 1 min ago	4.58 bp	18.5 bp −$19	31.7 bp −$317	doesn't fit	doesn't fit
Sell Aster live order book, 50 min ago	4.55 bp	10.0 bp −$10	28.7 bp −$287	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 PERP	−0.1659%	1h	2.1740	−0.366%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1801	−0.086%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0038%	4h	2.1760	−0.275%	$7.7M	$50.2M	75x	as long as short
SoDEX TRUMP-USD	−0.0036%	1h	2.1795	−0.114%	$82	$6K	5x	as long as short
Lighter TRUMP	−0.0024%	1h	2.1754	−0.302%	$969K	$838K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1766	−0.249%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1805	−0.069%	$410K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1820	0.000%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0030%	8h	2.1749	−0.325%	$5K	$175	5x	as long as short
Bybit TRUMPUSDT	+0.0048%	4h	2.1750	−0.321%	$31.0M	$48.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0050%	4h	2.1809	−0.048%	$106K	$264K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0071%	4h	2.1800	−0.091%	$4K	$238K	10x	as long as short
Variational Omni TRUMP	+0.0085%	4h	2.1851	+0.141%	$689K	$456K	—	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1791	−0.133%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDTshort	+0.0100%	4h	2.1770	−0.228%	$430K	$827K	20x
Pacifica TRUMP	+0.0100%	1h	2.1758	−0.283%	$187K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1750	−0.321%	$62.9M	$237.7M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1750	−0.321%	$27.7M	$171.1M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1750	−0.321%	$417K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1770	−0.229%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1760	−0.275%	$15.6M	$25.4M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1827	+0.034%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1830	+0.046%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1810	−0.046%	$535K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1744	−0.347%	$116K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1788	−0.144%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0107%	1h	2.1792	−0.128%	$255K	$319K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1817	−0.011%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0288%	1h	2.1820	long leg	$1.3M	$2.2M	50x
BloFin TRUMP-USDT	+0.0340%	4h	2.1750	−0.321%	$4.3M	$657K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1900	+0.367%	$284K	$301K	50x	as long as short