Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0449%/8hpaid last 24h −0.014%

Price spread now: Binance against Kraken Futures−0.074%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$540.539% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.112%+$11 on $10k

Price spread, last 3 days (all we have)−0.027%−$3 · spread now −0.074%, 7d avg −0.069%

Together, before fees+0.085%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.069%, so right now this pair is about funding alone: +$13 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.112% in total (about 5.8% 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	2.1500	−0.0394	get 0.0049% / 1h	5m 09s	$1.0M	$2.1M	50x
Short	Binance TRUMPUSDT	2.1484	0.0055	get 0.0027% / 4h	5m 09s	$61.9M	$209.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.074%Rate

Funding earned: $94.26
Price spread: −0.074% → −0.069%: −$0.49
Slippage, 4 orders: −$33.9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $39.87
Costs to cover: 0.539%
Break-even: 4.0 days

Slippage from Kraken Futures: live order book, 3 min ago; Binance: live order book, 13 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, 3 min ago	2.32 bp	19.0 bp −$19	29.0 bp −$290	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	2.33 bp	7.3 bp −$7	13.5 bp −$135	43.0 bp −$4,302	246.1 bp −$123.0K

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	−0.1937%	1h	2.1390	−0.513%	$12K	$115K	12x	as long as short
Kraken Futures PF_TRUMPUSDlong	−0.0394%	1h	2.1500	long leg	$1.0M	$2.1M	50x
Lighter TRUMP	−0.0256%	1h	2.1478	−0.104%	$961K	$590K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1475	−0.118%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0026%	1h	2.1485	−0.071%	$79	$6K	5x	as long as short
dYdX TRUMP-USD	−0.0015%	1h	2.1518	+0.082%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1494	−0.029%	$403K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1499	−0.006%	$41K	—	150x	as long as short
Gate TRUMP_USDT	+0.0026%	4h	2.1490	−0.048%	$7.4M	$44.9M	75x	as long as short
edgeX TRUMPUSDC	+0.0026%	4h	2.1499	−0.006%	$117K	$243K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TRUMP_USDC	+0.0032%	4h	2.1470	−0.141%	$472K	$136K	125x	as long as short
Paradex TRUMP-USD-PERP	+0.0035%	8h	2.1485	−0.072%	$5K	—	5x	as long as short
Binance TRUMPUSDTshort	+0.0055%	4h	2.1484	−0.074%	$61.9M	$209.6M	75x
Extended TRUMP-USD	+0.0056%	1h	2.1484	−0.077%	$74K	$473K	25x	as long as short
Orderly PERP_TRUMP_USDC	+0.0088%	4h	2.1490	−0.048%	$3K	$249K	10x	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1482	−0.084%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1510	+0.045%	$13.7M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1503	+0.012%	$438K	$824K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1487	−0.062%	$185K	$60K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1480	−0.094%	$30.0M	$40.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1480	−0.094%	$26.6M	$143.2M	50x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1490	−0.048%	$4.6M	$9.7M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1490	−0.048%	$15.1M	$19.9M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1516	+0.073%	$254K	$267K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1495	−0.025%	$668K	$231K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1510	+0.045%	$185K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1510	+0.045%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1520	+0.092%	$499K	$1.6M	50x	as long as short
BloFin TRUMP-USDT	+0.0220%	4h	2.1470	−0.141%	$4.2M	$477K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0280%	1h	2.1490	−0.048%	$276K	$396K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0537% / S −0.1999%	1h	2.1494	−0.031%	$56K	—	100x	as long as short