TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0719%/8h= −78.8% APRnext payment −$0.90 per $10,000 · paid last 24h −0.036%

Price spread now: Deribit against Kraken Futures−0.061%7-day average −0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$560.563% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.080%−$8 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.061%, 7d avg −0.042%

Together, before fees−0.096%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.042%, so right now this pair is about funding alone: −$22 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 -0.080% in total (about -4.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.90 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 55s	$1.3M	$2.3M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1500	−0.0122	pay 0.0015% / 1h	13m 55s	$405K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.061%Rate

Funding earned: −$151.08
Price spread: −0.061% → −0.042%: −$1.89
Slippage, 4 orders: −$39.35
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$209.32
Costs to cover: 0.563%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Deribit: 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 Deribit live order book, 25 min ago	8.85 bp	12.4 bp −$12	21.6 bp −$216	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	2.1432	−0.377%	$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	2.1485	−0.130%	$939K	$1.0M	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0197%	4h	2.1500	−0.061%	$26.7M	$184.5M	50x	as long as short
Binance TRUMPUSDT	−0.0185%	4h	2.1510	−0.014%	$60.8M	$250.9M	75x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1500	−0.061%	$74K	$496K	25x	as long as short
Bybit TRUMPUSDT	−0.0165%	4h	2.1500	−0.061%	$30.6M	$52.5M	50x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0122%	1h	2.1500	−0.061%	$405K	$81K	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0104%	4h	2.1500	−0.061%	$7.7M	$53.4M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0102%	8h	2.1483	−0.139%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0091%	4h	2.1446	−0.313%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0069%	4h	2.1490	−0.107%	$5K	$278K	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	2.1506	−0.033%	$41K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0024%	4h	2.1510	−0.014%	$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-INTX	+0.0056%	1h	2.1330	−0.851%	$167K	$479K	50x	as long as short
Bitget TRUMPUSDT	+0.0082%	4h	2.1520	+0.032%	$15.3M	$27.1M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1531	+0.083%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1516	+0.014%	$404K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1485	−0.130%	$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	2.1450	−0.293%	$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