Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0226%/8h= +24.8% APRpaid last 24h —

Price spread now: Kraken Futures against Phemex+0.190%7-day average +0.119% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1311.307% of the position

Long on Phemex Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 6 hours (all we have)−0.071%−$7 · spread now +0.190%, 7d avg +0.119%

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.071% dearer against Phemex than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.119%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TRUMPUSDT	2.1420	0.0100	pay 0.0050% / 4h	44m 59s	$283K	$624K	50x
Short	Kraken Futures PF_TRUMPUSD	2.1461	0.0326	get 0.0041% / 1h	44m 59s	$1.4M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Phemex. 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 PhemexbpFee Kraken FuturesbpOrdersPrice spread, now +0.190%Rate

Funding earned: $47.52
Price spread: +0.190% → +0.119%: $7.11
Slippage, 4 orders: −$108.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$76.02
Costs to cover: 1.307%
Break-even: 18.2 days

Slippage from Phemex: live order book, 46 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 Phemex live order book, 46 min ago	4.69 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	4.67 bp	20.0 bp −$20	33.2 bp −$332	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
SoDEX TRUMP-USD	−0.0441%	1h	2.1418	−0.009%	$80	$6K	5x	as long as short
Extended TRUMP-USD	−0.0392%	1h	2.1428	+0.037%	$76K	$486K	25x	as long as short
Binance TRUMPUSDT	−0.0388%	4h	2.1440	+0.093%	$62.7M	$235.4M	75x	as long as short
Variational Omni TRUMP	−0.0388%	4h	2.1350	−0.329%	$665K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0334%	4h	2.1440	+0.093%	$31.2M	$48.0M	50x	as long as short
Lighter TRUMP	−0.0320%	1h	2.1425	+0.023%	$916K	$929K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1270	−0.700%	$125K	$520K	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0286%	4h	2.1440	+0.093%	$27.2M	$172.5M	50x	as long as short
MEXC TRUMP_USDC	−0.0286%	4h	2.1420	0.000%	$388K	$142K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1410	−0.049%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TRUMPUSDTM	−0.0228%	4h	2.1430	+0.047%	$4.3M	$10.0M	50x	as long as short
Gate TRUMP_USDT	−0.0214%	4h	2.1420	0.000%	$7.7M	$46.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0193%	4h	2.1316	−0.485%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0150%	8h	2.1387	−0.154%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0148%	4h	2.1420	0.000%	$4.3M	$657K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0089%	4h	2.1410	−0.047%	$5K	$291K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0077%	1h	2.1430	+0.047%	$385K	$67K	10x	as long as short
Bitget TRUMPUSDT	−0.0032%	4h	2.1440	+0.093%	$15.5M	$24.7M	75x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1414	−0.026%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1435	+0.068%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0004%	4h	2.1380	−0.187%	$169K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1423	+0.014%	$40K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	−0.327%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1446	+0.121%	$13.6M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1435	+0.069%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1394	−0.123%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1440	+0.093%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1440	+0.093%	$476K	$2.4M	50x	as long as short
Phemex TRUMPUSDTlong	+0.0100%	4h	2.1420	long leg	$283K	$624K	50x
Backpack TRUMP_USDC_PERP	+0.0191%	1h	2.1468	+0.224%	$383K	$388K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0220% / S −0.0223%	1h	2.1427	+0.032%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0326%	1h	2.1461	+0.190%	$1.4M	$2.1M	50x