Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0279%/8h= +30.5% APRpaid last 24h −0.003%

Price spread now: Kraken Futures against OKX+0.322%7-day average +0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$65as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)−0.246%−$25 · spread now +0.322%, 7d avg +0.092%

Together, before fees−0.400%−$40 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.231% dearer against OKX than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.092%. Mind the row above: over the last 7 days funding on this pair cost −0.154%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% 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	OKX TRUMP-USDT-SWAP	2.1530	−0.0082	get 0.0041% / 4h	2h 06m	$26.6M	$185.1M	50x
Short	Kraken Futures PF_TRUMPUSD	2.1599	0.0197	get 0.0025% / 1h	6m 44s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.322%Rate

Funding earned: $58.54
Price spread: +0.322% → +0.092%: $23.08
Slippage, 4 orders: −$29.88
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $31.73
Costs to cover: 0.499%
Break-even: 3.2 days

Slippage from OKX: live order book, 2 min ago; Kraken Futures: live order book, 2 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 OKX live order book, 2 min ago	2.32 bp	7.3 bp −$7	10.2 bp −$102	39.5 bp −$3,951	doesn't fit
Sell Kraken Futures live order book, 2 min ago	2.31 bp	16.7 bp −$17	32.3 bp −$323	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	−0.1827%	1h	2.1480	−0.232%	$13K	$157K	12x	as long as short
Lighter TRUMP	−0.0368%	1h	2.1524	−0.028%	$951K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0301%	1h	2.1570	+0.186%	$82	$6K	5x	as long as short
Extended TRUMP-USD	−0.0280%	1h	2.1509	−0.098%	$74K	$739K	25x	as long as short
Binance TRUMPUSDT	−0.0275%	4h	2.1530	0.000%	$60.7M	$251.7M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	+0.193%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0226%	4h	2.1530	0.000%	$30.6M	$52.2M	50x	as long as short
Variational Omni TRUMP	−0.0193%	4h	2.1511	−0.087%	$664K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0170%	8h	2.1531	+0.006%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0139%	4h	2.1508	−0.104%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	−0.0121%	1h	2.1580	+0.232%	$406K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0118%	4h	2.1520	−0.046%	$7.7M	$53.8M	75x	as long as short
OKX TRUMP-USDT-SWAPlong	−0.0082%	4h	2.1530	long leg	$26.6M	$185.1M	50x
Orderly PERP_TRUMP_USDC	−0.0063%	4h	2.1570	+0.186%	$5K	$233K	10x	as long as short
BloFin TRUMP-USDT	−0.0037%	4h	2.1570	+0.186%	$4.1M	$691K	75x	as long as short
dYdX TRUMP-USD	−0.0016%	1h	2.1526	−0.017%	$27K	$501	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1565	+0.163%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1584	+0.252%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0018%	4h	2.1520	−0.046%	$182K	$4.7M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1540	+0.046%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1543	+0.058%	$405K	$774K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1532	+0.009%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	0.000%	$401K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1530	0.000%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1530	0.000%	$15.4M	$27.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1590	+0.279%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1590	+0.279%	$484K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1580	+0.233%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0197%	1h	2.1599	+0.322%	$1.3M	$2.3M	50x
Backpack TRUMP_USDC_PERP	+0.0262%	1h	2.1582	+0.242%	$384K	$412K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1580	+0.232%	$238K	$379K	50x	as long as short