TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0276%/8h= −30.2% APRnext payment −$0.35 per $10,000 · paid last 24h +0.003%

Price spread now: Extended against Kraken Futures−0.159%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

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

costs, in and out, $10k−$540.541% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.159%, 7d avg −0.119%

Together, before fees+0.126%+ Points / potential airdropExtended: Active · farm board+$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Extended is 0.039% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.119%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.047% in total (about 2.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.35 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	2.1724	0.0172	pay 0.0022% / 1h	20m 33s	$1.3M	$2.3M	50x
Short	Extended TRUMP-USD	2.1689	−0.0104	pay 0.0013% / 1h	20m 33s	$74K	$714K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.159%Rate

Funding earned: −$58.01
Price spread: −0.159% → −0.119%: −$3.92
Slippage, 4 orders: −$39.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$116.06
Costs to cover: 0.541%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Extended: live order book, 32 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	2.30 bp	11.6 bp −$12	27.7 bp −$277	doesn't fit	doesn't fit
Sell Extended live order book, 32 min ago	6.89 bp	9.9 bp −$10	32.2 bp −$322	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	−0.1765%	1h	2.1550	−0.799%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0322%	1h	2.1687	−0.169%	$86	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0295%	8h	2.1693	−0.140%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	−0.149%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0176%	4h	2.1690	−0.155%	$7.9M	$51.9M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0165%	1h	2.1697	−0.123%	$408K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0109%	4h	2.1700	−0.109%	$61.3M	$246.0M	75x	as long as short
Extended TRUMP-USDshort	−0.0104%	1h	2.1689	−0.159%	$74K	$714K	25x
edgeX TRUMPUSDC	−0.0046%	4h	2.1660	−0.295%	$106K	$264K	20x	as long as short
Variational Omni TRUMP	−0.0023%	4h	2.1681	−0.195%	$670K	$516K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0010%	4h	2.1690	−0.155%	$30.7M	$50.3M	50x	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1666	−0.265%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1710	−0.063%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0015%	4h	2.1690	−0.155%	$4K	$194K	10x	as long as short
Lighter TRUMP	+0.0024%	1h	2.1650	−0.339%	$956K	$975K	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1685	−0.178%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0058%	4h	2.1690	−0.155%	$177K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1668	−0.256%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1673	−0.233%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1686	−0.173%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1700	−0.109%	$27.6M	$179.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1690	−0.155%	$407K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1650	−0.339%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1700	−0.109%	$15.7M	$26.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1710	−0.063%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1700	−0.109%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0135%	4h	2.1670	−0.247%	$4.2M	$664K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1709	−0.066%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0172%	1h	2.1724	long leg	$1.3M	$2.3M	50x
Backpack TRUMP_USDC_PERP	+0.0210%	1h	2.1690	−0.155%	$340K	$378K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1720	−0.017%	$281K	$277K	50x	as long as short