Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h 0.000%

Price spread now: OKX against Kraken Futures−0.190%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.144%+$14 on $10k

Price spread, last 4 days (all we have)+0.110%+$11 · spread now −0.190%, 7d avg −0.093%

Together, before fees+0.255%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.098% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.190% now, against its 7-day average of −0.093%). If the spread goes back, that is −$10 on $10k: about 31 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.144% in total) that is about 4.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1521	−0.0098	get 0.0012% / 1h	18m 02s	$1.3M	$2.3M	50x
Short	OKX TRUMP-USDT-SWAP	2.1480	−0.0088	pay 0.0044% / 4h	1h 18m	$26.6M	$185.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.190%Rate

Funding earned: $2.2
Price spread: −0.190% → −0.093%: −$9.77
Slippage, 4 orders: −$29.48
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$57.05
Costs to cover: 0.495%
Break-even: 188.3 days

Slippage from Kraken Futures: live order book, 1 min ago; OKX: live order book, 1 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, 1 min ago	4.65 bp	20.5 bp −$20	31.3 bp −$313	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.33 bp	7.3 bp −$7	9.8 bp −$98	35.3 bp −$3,535	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	−0.1927%	1h	2.1350	−0.794%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1482	−0.183%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0176%	1h	2.1480	−0.192%	$74K	$519K	25x	as long as short
Binance TRUMPUSDT	−0.0173%	4h	2.1489	−0.149%	$60.7M	$252.2M	75x	as long as short
Variational Omni TRUMP	−0.0140%	4h	2.1451	−0.324%	$661K	$424K	—	as long as short
Kraken Futures PF_TRUMPUSDlong	−0.0098%	1h	2.1521	long leg	$1.3M	$2.3M	50x
edgeX TRUMPUSDC	−0.0095%	4h	2.1464	−0.266%	$105K	$264K	20x	as long as short
OKX TRUMP-USDT-SWAPshort	−0.0088%	4h	2.1480	−0.190%	$26.6M	$185.2M	50x
Orderly PERP_TRUMP_USDC	−0.0057%	4h	2.1480	−0.190%	$5K	$249K	10x	as long as short
Gate TRUMP_USDT	−0.0046%	4h	2.1500	−0.097%	$7.7M	$53.8M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0031%	8h	2.1483	−0.177%	$5K	$175	5x	as long as short
Bybit TRUMPUSDT	−0.0025%	4h	2.1490	−0.144%	$30.5M	$52.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0007%	1h	2.1489	−0.148%	$80	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1492	−0.136%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1496	−0.116%	$405K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1503	−0.086%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1480	−0.190%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0063%	4h	2.1470	−0.237%	$4.1M	$702K	75x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1487	−0.158%	$940K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1511	−0.046%	$13.6M	$8.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1499	−0.102%	$404K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1493	−0.130%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1490	−0.144%	$400K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1490	−0.144%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1490	−0.144%	$15.3M	$27.1M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1477	−0.207%	$176K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1510	−0.051%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1510	−0.051%	$483K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1501	−0.094%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1490	−0.144%	$187K	$445K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0421%	1h	2.1526	+0.023%	$381K	$417K	10x	as long as short