Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0472%/8h= −51.7% APRpaid last 24h +0.040%

Price spread now: BloFin against Kraken Futures−0.253%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$78as in the Price arb table

costs, in and out, $10k−$610.612% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.410%+$41 on $10k

Price spread, last 4 days (all we have)+0.165%+$17 · spread now −0.253%, 7d avg −0.084%

Together, before fees+0.576%+$58 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and BloFin is 0.169% 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 −0.084%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.410%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1434	0.0327	pay 0.0041% / 1h	47m 14s	$1.4M	$2.1M	50x
Short	BloFin TRUMP-USDT	2.1380	−0.0145	pay 0.0073% / 4h	47m 14s	$4.3M	$656K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.253%Rate

Funding earned: −$99.16
Price spread: −0.253% → −0.084%: −$16.95
Slippage, 4 orders: −$39.18
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$177.29
Costs to cover: 0.612%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; BloFin: live order book, 4 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, 4 min ago	4.68 bp	19.1 bp −$19	36.1 bp −$361	doesn't fit	doesn't fit
Sell BloFin live order book, 4 min ago	7.03 bp	13.0 bp −$13	13.0 bp −$130	28.6 bp −$2,863	109.3 bp −$54.6K

TRUMP on 32 exchanges

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
SoDEX TRUMP-USD	−0.0454%	1h	2.1395	−0.183%	$80	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0387%	4h	2.1396	−0.180%	$62.6M	$236.3M	75x	as long as short
Extended TRUMP-USD	−0.0384%	1h	2.1388	−0.217%	$76K	$486K	25x	as long as short
Variational Omni TRUMP	−0.0381%	4h	2.1339	−0.443%	$664K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0325%	4h	2.1400	−0.160%	$31.1M	$48.1M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1270	−0.766%	$125K	$520K	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0304%	4h	2.1380	−0.253%	$27.1M	$172.4M	50x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1394	−0.188%	$915K	$929K	10x	as long as short
MEXC TRUMP_USDC	−0.0280%	4h	2.1380	−0.253%	$387K	$142K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1400	−0.162%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TRUMPUSDTM	−0.0232%	4h	2.1390	−0.207%	$4.3M	$10.0M	50x	as long as short
Gate TRUMP_USDT	−0.0230%	4h	2.1390	−0.207%	$7.7M	$46.3M	75x	as long as short
edgeX TRUMPUSDC	−0.0193%	4h	2.1316	−0.551%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0159%	8h	2.1388	−0.216%	$5K	$175	5x	as long as short
BloFin TRUMP-USDTshort	−0.0145%	4h	2.1380	−0.253%	$4.3M	$656K	75x
Orderly PERP_TRUMP_USDC	−0.0090%	4h	2.1400	−0.160%	$5K	$291K	10x	as long as short
Bitget TRUMPUSDT	−0.0034%	4h	2.1400	−0.160%	$15.5M	$24.7M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0030%	1h	2.1417	−0.081%	$385K	$67K	10x	as long as short
dYdX TRUMP-USD	−0.0025%	1h	2.1384	−0.233%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1540	+0.491%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0002%	4h	2.1334	−0.470%	$179K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1413	−0.101%	$40K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	−0.393%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1409	−0.118%	$13.6M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1410	−0.113%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1372	−0.291%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1400	−0.160%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1430	−0.020%	$476K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1400	−0.160%	$280K	$618K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0181%	1h	2.1421	−0.062%	$382K	$389K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0220% / S −0.0222%	1h	2.1417	−0.081%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0327%	1h	2.1434	long leg	$1.4M	$2.1M	50x