Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.035%

Price spread now: Deribit against KuCoin−0.014%53s7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$640.637% of the position

Long on KuCoin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.014%, 7d avg +0.012%

Together, before fees−0.194%−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.026% cheaper against KuCoin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.012%). Swap the legs. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRUMPUSDTM	2.1460	0.0100	pay 0.0050% / 4h	1h 13m	$4.2M	$11.1M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1457	0	get 0.0000% / 1h	13m 28s	$404K	$81K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$21
Price spread: −0.014% → +0.012%: −$2.6
Slippage, 4 orders: −$44.69
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$87.28
Costs to cover: 0.637%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Deribit: live order book, 30 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, 5 min ago	2.33 bp	19.5 bp −$20	95.4 bp −$954	doesn't fit	doesn't fit
Sell Deribit live order book, 30 min ago	8.18 bp	11.7 bp −$12	22.3 bp −$223	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	−0.1927%	1h	2.1380	−0.373%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1451	−0.040%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0168%	1h	2.1449	−0.052%	$74K	$521K	25x	as long as short
Binance TRUMPUSDT	−0.0166%	4h	2.1457	−0.015%	$60.6M	$250.8M	75x	as long as short
Variational Omni TRUMP	−0.0117%	4h	2.1461	+0.006%	$663K	$423K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0100%	4h	2.1440	−0.093%	$26.6M	$184.6M	50x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0098%	1h	2.1482	+0.104%	$1.3M	$2.3M	50x	as long as short
edgeX TRUMPUSDC	−0.0085%	4h	2.1448	−0.055%	$105K	$266K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0056%	4h	2.1440	−0.093%	$5K	$252K	10x	as long as short
Gate TRUMP_USDT	−0.0050%	4h	2.1460	0.000%	$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
Bybit TRUMPUSDT	−0.0036%	4h	2.1450	−0.047%	$30.5M	$52.5M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0027%	8h	2.1448	−0.055%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0025%	1h	2.1455	−0.023%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1466	+0.027%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1457	−0.014%	$404K	$81K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1467	+0.034%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1450	−0.047%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0072%	4h	2.1440	−0.093%	$4.1M	$701K	75x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1445	−0.070%	$937K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1476	+0.075%	$13.6M	$8.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1461	+0.006%	$403K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1463	+0.013%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1440	−0.093%	$399K	$150K	125x	as long as short
KuCoin TRUMPUSDTMlong	+0.0100%	4h	2.1460	long leg	$4.2M	$11.1M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1460	0.000%	$15.3M	$27.0M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1469	+0.040%	$176K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1480	+0.093%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1470	+0.047%	$482K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0098%	1h	2.1468	+0.040%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1490	+0.140%	$187K	$440K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0421%	1h	2.1484	+0.112%	$380K	$415K	10x	as long as short