TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0541%/8h= −59.3% APRnext payment −$0.68 per $10,000 · paid last 24h +0.086%

Price spread now: Coinbase International against Kraken Futures−0.851%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$142as in the Price arb table

costs, in and out, $10k−$560.557% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.306%+$31 on $10k

Price spread, last 4 days (all we have)+0.779%+$78 · spread now −0.851%, 7d avg +0.008%

Together, before fees+1.085%+$109 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Coinbase International is 0.859% cheaper against Kraken Futures than usual: you would sell low and buy high (−$86 if the spread goes back to its 7-day average of +0.008%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.306%, 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 0.306% in total (about 16.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.68 per $10,000. 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	2.1513	0.0597	pay 0.0075% / 1h	13m 29s	$1.3M	$2.3M	50x
Short	Coinbase International TRUMP-PERP-INTX	2.1330	0.0056	get 0.0007% / 1h	13m 29s	$167K	$479K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.851%Rate

Funding earned: −$113.71
Price spread: −0.851% → +0.008%: −$85.9
Slippage, 4 orders: −$35.65
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$255.26
Costs to cover: 0.557%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Coinbase International: live order book, 25 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, 5 min ago	4.66 bp	17.6 bp −$18	24.8 bp −$248	doesn't fit	doesn't fit
Sell Coinbase International live order book, 25 min ago	7.01 bp	12.0 bp −$12	16.1 bp −$161	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	−0.1797%	1h	2.1350	−0.758%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0339%	1h	2.1486	−0.126%	$76	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1512	−0.004%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0226%	4h	2.1452	−0.285%	$662K	$423K	—	as long as short
Lighter TRUMP	−0.0208%	1h	2.1495	−0.084%	$940K	$1.0M	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0199%	4h	2.1500	−0.061%	$26.8M	$184.6M	50x	as long as short
Binance TRUMPUSDT	−0.0185%	4h	2.1511	−0.011%	$60.8M	$250.4M	75x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1490	−0.108%	$74K	$496K	25x	as long as short
Bybit TRUMPUSDT	−0.0175%	4h	2.1500	−0.061%	$30.6M	$52.5M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0122%	1h	2.1500	−0.061%	$405K	$81K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0103%	8h	2.1498	−0.068%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0100%	4h	2.1520	+0.032%	$7.7M	$53.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0092%	4h	2.1442	−0.333%	$105K	$254K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0069%	4h	2.1510	−0.014%	$5K	$279K	10x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1504	−0.042%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1528	+0.069%	$41K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0024%	4h	2.1520	+0.032%	$4.1M	$10.8M	50x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1480	−0.154%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0055%	4h	2.1450	−0.293%	$4.1M	$687K	75x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0056%	1h	2.1330	−0.851%	$167K	$479K	50x
Bitget TRUMPUSDT	+0.0082%	4h	2.1520	+0.032%	$15.3M	$27.1M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1540	+0.125%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1526	+0.058%	$404K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1522	+0.042%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1510	−0.014%	$399K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1460	−0.245%	$173K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1500	−0.061%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	−0.061%	$483K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1468	−0.211%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0289%	1h	2.1534	+0.097%	$384K	$419K	10x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0597%	1h	2.1513	long leg	$1.3M	$2.3M	50x