Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0191%/8h= −20.9% APRpaid last 24h +0.011%

Price spread now: GRVT against Kraken Futures+0.463%7-day average −0.085% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$600.599% of the position

Long on Kraken Futures Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 4 days (all we have)−0.448%−$45 · spread now +0.463%, 7d avg −0.085%

Together, before fees−0.385%+ Points / potential airdropGRVT: Active · farm board−$39 on $10k · with fees, hour by hour

The price spread pays, funding is against you. GRVT is 0.548% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.463% now, against its 7-day average of −0.085%): +$55 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 9.6 days. Mind the row above: over the last 7 days funding on this pair paid +0.062%, 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 0.062% in total (about 3.3% 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	2.1590	0.0291	pay 0.0036% / 1h	4m 47s	$1.3M	$2.2M	50x
Short	GRVT TRUMP_USDT_Perp	2.1690	0.0100	get 0.0050% / 4h	1h 04m	$177K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.463%Rate

Funding earned: −$40.03
Price spread: +0.463% → −0.085%: $54.81
Slippage, 4 orders: −$40.86
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$45.07
Costs to cover: 0.599%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; GRVT: 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	4.61 bp	20.0 bp −$20	32.4 bp −$324	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	2.31 bp	12.9 bp −$13	34.0 bp −$340	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	−0.1659%	1h	2.1490	−0.464%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	−0.087%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0087%	1h	2.1559	−0.144%	$85	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0046%	4h	2.1590	0.000%	$7.6M	$50.4M	75x	as long as short
Lighter TRUMP	−0.0032%	1h	2.1573	−0.079%	$952K	$933K	10x	as long as short
Bybit TRUMPUSDT	−0.0015%	4h	2.1550	−0.186%	$30.7M	$48.9M	50x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1566	−0.113%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1568	−0.102%	$406K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1575	−0.072%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0027%	8h	2.1557	−0.153%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMP	+0.0044%	4h	2.1581	−0.043%	$661K	$475K	—	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1647	+0.263%	$106K	$264K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0068%	4h	2.1550	−0.186%	$4K	$235K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1597	+0.032%	$14.3M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1577	−0.059%	$427K	$830K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1570	−0.092%	$186K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1573	−0.081%	$62.4M	$238.4M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1560	−0.139%	$27.4M	$170.6M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1570	−0.093%	$414K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	0.000%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1580	−0.047%	$15.6M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1599	+0.041%	$253K	$317K	10x	as long as short
GRVT TRUMP_USDT_Perpshort	+0.0100%	4h	2.1690	+0.463%	$177K	$4.6M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.1580	−0.047%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1600	+0.046%	$526K	$2.1M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1560	−0.142%	$74K	$750K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1547	−0.202%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1572	−0.085%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0291%	1h	2.1590	long leg	$1.3M	$2.2M	50x
BloFin TRUMP-USDT	+0.0340%	4h	2.1570	−0.093%	$4.3M	$662K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1610	+0.092%	$280K	$284K	50x	as long as short