Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.003%

Price spread now: HTX against Kraken Futures+0.086%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$950.949% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.263%+$26 on $10k

Price spread, last 4 days (all we have)−0.162%−$16 · spread now +0.086%, 7d avg +0.022%

Together, before fees+0.101%+$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.063% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.086% now, against its 7-day average of +0.022%): +$6 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.1 days. Mind the row above: over the last 7 days funding on this pair paid +0.263%, 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	2.1302	0.0200	pay 0.0025% / 1h	24m 59s	$1.3M	$2.3M	50x
Short	HTX TRUMP-USDT	2.1320	0.0100	get 0.0050% / 4h	2h 24m	$478K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.086%Rate

Funding earned: −$20.9
Price spread: +0.086% → +0.022%: $6.33
Slippage, 4 orders: −$72.94
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$109.51
Costs to cover: 0.949%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; HTX: 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	4.72 bp	21.8 bp −$22	35.7 bp −$357	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	11.79 bp	24.3 bp −$24	48.3 bp −$483	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	−0.1827%	1h	2.1090	−0.994%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1269	−0.154%	$940K	$999K	10x	as long as short
SoDEX TRUMP-USD	−0.0419%	1h	2.1277	−0.116%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0352%	4h	2.1250	−0.243%	$30.0M	$51.6M	50x	as long as short
Binance TRUMPUSDT	−0.0274%	4h	2.1250	−0.243%	$59.8M	$250.2M	75x	as long as short
Extended TRUMP-USD	−0.0272%	1h	2.1269	−0.153%	$77K	$745K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1277	−0.118%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0223%	8h	2.1292	−0.047%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0202%	4h	2.1212	−0.424%	$654K	$426K	—	as long as short
Gate TRUMP_USDT	−0.0172%	4h	2.1260	−0.196%	$7.6M	$53.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0135%	4h	2.1178	−0.580%	$103K	$263K	20x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0079%	1h	2.1293	−0.041%	$401K	$72K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0070%	4h	2.1240	−0.290%	$26.6M	$179.8M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0047%	4h	2.1270	−0.149%	$5K	$223K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1215	−0.406%	$175K	$4.7M	10x	as long as short
BloFin TRUMP-USDT	−0.0034%	4h	2.1280	−0.102%	$4.1M	$686K	75x	as long as short
dYdX TRUMP-USD	−0.0020%	1h	2.1286	−0.072%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1298	−0.018%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1280	−0.102%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1261	−0.191%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1255	−0.219%	$400K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1273	−0.135%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1270	−0.149%	$396K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1280	−0.102%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1250	−0.243%	$15.2M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1310	+0.039%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1320	+0.086%	$478K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1306	+0.019%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0167%	1h	2.1284	−0.083%	$378K	$411K	10x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0200%	1h	2.1302	long leg	$1.3M	$2.3M	50x
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1210	−0.431%	$241K	$341K	50x	as long as short