TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1993%/8h= −218.3% APRnext payment −$2.49 per $10,000 · paid last 24h −0.500%

Price spread now: Injective against Kraken Futures−0.570%7-day average −0.114% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$169as in the Price arb table

costs, in and out, $10k−$1231.234% of the position

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 3 days (all we have)+0.184%+$18 · spread now −0.570%, 7d avg −0.114%

Together, before fees−0.010%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$60 a day on $10k at the current rate, and Injective is 0.455% cheaper against Kraken Futures than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of −0.114%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.194% in total (about -10.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$2.49 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	2.1925	0.0521	pay 0.0065% / 1h	7m 05s	$1.3M	$2.5M	50x
Short	Injective TRUMP/USDC PERP	2.1800	−0.1472	pay 0.0184% / 1h	7m 05s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.570%Rate

Funding earned: −$418.57
Price spread: −0.570% → −0.114%: −$45.55
Slippage, 4 orders: −$113.38
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$587.53
Costs to cover: 1.234%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Injective: live order book, 62 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, 2 min ago	2.29 bp	15.8 bp −$16	32.2 bp −$322	doesn't fit	doesn't fit
Sell Injective live order book, 62 min ago	34.40 bp	34.4 bp −$34	doesn't fit	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 PERPshort	−0.1472%	1h	2.1800	−0.570%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1887	−0.173%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1867	−0.264%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1895	−0.136%	$411K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1893	−0.146%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1888	−0.168%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1880	−0.205%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1861	−0.292%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1892	−0.150%	$985K	$723K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1930	+0.023%	$14.1M	$7.5M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1913	−0.054%	$456K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1869	−0.253%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1908	−0.076%	$62.4M	$220.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1910	−0.068%	$30.6M	$43.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1900	−0.114%	$26.9M	$150.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1900	−0.114%	$7.4M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1890	−0.159%	$481K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1900	−0.114%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1920	−0.022%	$15.5M	$21.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1882	−0.196%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1911	−0.062%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	−0.068%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	−0.136%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1900	−0.114%	$528K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1886	−0.180%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.205%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1895	−0.138%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0338%	1h	2.1931	+0.028%	$259K	$274K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1910	−0.068%	$4.2M	$626K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1890	−0.159%	$282K	$401K	50x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0521%	1h	2.1925	long leg	$1.3M	$2.5M	50x