Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0428%/8h= +46.9% APRpaid last 24h +0.091%

Price spread now: Coinbase International against Orderly0.000%7-day average +0.105% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.192%+$19 on $10k

Price spread, last 4 days (all we have)−0.024%−$2 · spread now 0.000%, 7d avg +0.105%

Together, before fees+0.168%+$17 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.105% cheaper against Orderly than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.105%). If the spread goes back, that is −$10 on $10k: about 20 hours of funding at the current rate (+$13 a day). At the pace of the last 7 days (+0.192% in total) that is about 3.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.192% in total (about 10.0% 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	Orderly PERP_TRUMP_USDC	2.1580	0.0044	pay 0.0022% / 4h	23m 49s	$4K	$207K	10x
Short	Coinbase International TRUMP-PERP-INTX	2.1580	0.0472	get 0.0059% / 1h	23m 49s	$279K	$281K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now 0.000%Rate

Funding earned: $89.86
Price spread: 0.000% → +0.105%: −$10.5
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $63.37
Costs to cover: 0.160%
Break-even: 2.1 days

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 34 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 34 min ago	16.32 bp	25.9 bp −$26	36.5 bp −$365	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1690%	1h	2.1490	−0.417%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1591	+0.053%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0126%	1h	2.1595	+0.070%	$98	$6K	5x	as long as short
Lighter TRUMP	−0.0120%	1h	2.1587	+0.032%	$956K	$956K	10x	as long as short
Gate TRUMP_USDT	−0.0058%	4h	2.1580	0.000%	$7.6M	$51.0M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0028%	1h	2.1594	+0.065%	$406K	$72K	10x	as long as short
dYdX TRUMP-USD	−0.0003%	1h	2.1586	+0.027%	$27K	$512	5x	as long as short
Binance TRUMPUSDT	−0.0002%	4h	2.1580	0.000%	$60.5M	$242.2M	75x	as long as short
Extended TRUMP-USD	0.0000%	1h	2.1559	−0.095%	$75K	$745K	25x	as long as short
Variational Omni TRUMP	+0.0003%	4h	2.1581	+0.005%	$666K	$488K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0004%	4h	2.1582	+0.011%	$105K	$263K	20x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1603	+0.107%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0009%	4h	2.1590	+0.046%	$4.1M	$684K	75x	as long as short
Paradex TRUMP-USD-PERP	+0.0024%	8h	2.1577	−0.016%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDClong	+0.0044%	4h	2.1580	long leg	$4K	$207K	10x
Bybit TRUMPUSDT	+0.0066%	4h	2.1580	0.000%	$30.6M	$49.5M	50x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1566	−0.065%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1616	+0.166%	$14.3M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1596	+0.076%	$423K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1585	+0.023%	$186K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1570	−0.046%	$27.2M	$173.8M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1590	+0.046%	$406K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	+0.046%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1580	0.000%	$15.6M	$25.5M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1611	+0.144%	$253K	$319K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1600	+0.093%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1620	+0.185%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1600	+0.093%	$504K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1598	+0.082%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1611	+0.142%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0472%	1h	2.1580	0.000%	$279K	$281K	50x