Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0228%/8h= +25.0% APRnext payment +$1.14 per $10,000 · paid last 24h —

Price spread now: Phemex against KuCoin−0.046%7-day average — · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$146as in the Price arb table

costs, in and out, $10k−$1411.412% of the position

Long on KuCoin Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.046% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 16 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRUMPUSDTM	2.1570	−0.0128	get 0.0064% / 4h	2h 09m	$4.2M	$10.2M	50x
Short	Phemex TRUMPUSDT	2.1560	0.0100	get 0.0050% / 4h	2h 09m	$105K	$270K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.046%Rate

Funding earned: $47.88
Price spread: −0.046% → 0.000%: −$4.64
Slippage, 4 orders: −$117.25
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$98
Costs to cover: 1.412%
Break-even: 21.3 days

Slippage from KuCoin: live order book, 2 min ago; Phemex: live order book, 26 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, 2 min ago	2.32 bp	22.0 bp −$22	134.1 bp −$1,341	doesn't fit	doesn't fit
Sell Phemex live order book, 26 min ago	6.99 bp	48.9 bp −$49	doesn't fit	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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	−0.1841%	1h	2.1600	+0.139%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0359%	4h	2.1550	−0.092%	$669K	$403K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0328%	4h	2.1550	−0.093%	$27.3M	$175.9M	50x	as long as short
Bybit TRUMPUSDT	−0.0325%	4h	2.1560	−0.046%	$31.4M	$49.2M	50x	as long as short
SoDEX TRUMP-USD	−0.0312%	1h	2.1555	−0.070%	$67	$6K	5x	as long as short
Extended TRUMP-USD	−0.0304%	1h	2.1548	−0.102%	$74K	$496K	25x	as long as short
Binance TRUMPUSDT	−0.0300%	4h	2.1560	−0.046%	$63.3M	$240.5M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1533	−0.173%	$5	—	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.232%	$132K	$517K	50x	as long as short
Gate TRUMP_USDT	−0.0234%	4h	2.1550	−0.093%	$7.8M	$48.6M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0224%	1h	2.1556	−0.065%	$931K	$981K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0203%	8h	2.1542	−0.131%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1555	−0.068%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTMlong	−0.0128%	4h	2.1570	long leg	$4.2M	$10.2M	50x
Deribit TRUMP_USDC-PERPETUAL	−0.0121%	1h	2.1564	−0.028%	$387K	$78K	10x	as long as short
MEXC TRUMP_USDC	−0.0108%	4h	2.1550	−0.093%	$393K	$152K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0076%	4h	2.1550	−0.093%	$5K	$310K	10x	as long as short
BloFin TRUMP-USDT	−0.0061%	4h	2.1560	−0.046%	$4.3M	$674K	75x	as long as short
Bitget TRUMPUSDT	−0.0018%	4h	2.1560	−0.046%	$15.4M	$25.6M	75x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1556	−0.065%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1539	−0.146%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1573	+0.014%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0016%	1h	2.1590	+0.091%	$1.3M	$2.1M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0032%	4h	2.1546	−0.113%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1577	+0.032%	$13.7M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1570	0.000%	$406K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1564	−0.028%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	0.000%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.046%	$496K	$2.4M	50x	as long as short
Phemex TRUMPUSDTshort	+0.0100%	4h	2.1560	−0.046%	$105K	$270K	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0189% / S −0.0184%	1h	2.1568	−0.009%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0237%	1h	2.1592	+0.102%	$386K	$400K	10x	as long as short