Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0372%/8h= +40.7% APRpaid last 24h +0.080%

Price spread now: Coinbase International against KuCoin−0.274%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$800.796% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.171%+$17 on $10k

Price spread, last 3 days (all we have)+0.274%+$27 · spread now −0.274%, 7d avg +0.045%

Together, before fees+0.445%+$45 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.319% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.274% now, against its 7-day average of +0.045%). If the spread goes back, that is −$32 on $10k: about 2.9 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.171% in total) that is about 13 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.171% in total (about 8.9% 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	KuCoin TRUMPUSDTM	2.1920	0.0100	pay 0.0050% / 4h	1h 47m	$4.7M	$10.4M	50x
Short	Coinbase International TRUMP-PERP-INTX	2.1860	0.0472	get 0.0059% / 1h	47m 46s	$281K	$399K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.274%Rate

Funding earned: $78.12
Price spread: −0.274% → +0.045%: −$31.86
Slippage, 4 orders: −$57.6
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$33.34
Costs to cover: 0.796%
Break-even: 10.0 days

Slippage from KuCoin: live order book, 6 min ago; Coinbase International: live order book, 35 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 KuCoin live order book, 6 min ago	4.57 bp	17.1 bp −$17	94.9 bp −$949	doesn't fit	doesn't fit
Sell Coinbase International live order book, 35 min ago	11.41 bp	20.2 bp −$20	25.1 bp −$251	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	−0.1472%	1h	2.1740	−0.821%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1924	+0.016%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1908	−0.056%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1919	−0.005%	$411K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1920	0.000%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1857	−0.287%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1910	−0.046%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0088%	8h	2.1919	−0.005%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1906	−0.064%	$975K	$670K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1943	+0.105%	$14.1M	$7.4M	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	2.1929	+0.040%	$457K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1924	+0.020%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1922	+0.010%	$62.5M	$217.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1920	0.000%	$30.7M	$42.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1920	0.000%	$26.8M	$149.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1910	−0.046%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1910	−0.046%	$481K	$132K	125x	as long as short
KuCoin TRUMPUSDTMlong	+0.0100%	4h	2.1920	long leg	$4.7M	$10.4M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1920	0.000%	$15.5M	$20.5M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1863	−0.259%	$683K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1860	−0.273%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1940	+0.091%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1910	−0.046%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1960	+0.182%	$518K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1907	−0.061%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1898	−0.101%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1922	+0.007%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0258%	1h	2.1938	+0.082%	$260K	$268K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1870	−0.228%	$4.2M	$519K	75x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0472%	1h	2.1860	−0.274%	$281K	$399K	50x
Kraken Futures PF_TRUMPUSD	+0.0521%	1h	2.1934	+0.064%	$1.3M	$2.4M	50x	as long as short