Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1790%/8h= −196.0% APRpaid last 24h −0.520%

Price spread now: Injective against SunX−0.558%7-day average −0.166% · you buy dearer than you sell

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

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.591%−$59 on $10k

Price spread, last 4 days (all we have)+0.106%+$11 · spread now −0.558%, 7d avg −0.166%

Together, before fees−0.485%−$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$54 a day on $10k at the current rate, and Injective is 0.392% cheaper against SunX than usual: you would sell low and buy high (−$39 if the spread goes back to its 7-day average of −0.166%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.591% in total (about -30.8% 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	SunX TRUMP-USDT	2.1500	0.0100	pay 0.0050% / 4h	44m 18s	$2K	$1.6M	50x
Short	Injective TRUMP/USDC PERP	2.1380	−0.1690	pay 0.0211% / 1h	44m 18s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now −0.558%Rate

Funding earned: −$375.8
Price spread: −0.558% → −0.166%: −$39.2
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$423.02
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 11 min ago; Injective: live order book, 65 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 SunX live order book, 11 min ago	502.43 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 65 min ago	48.42 bp	48.4 bp −$48	doesn't fit	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 PERPshort	−0.1690%	1h	2.1380	−0.558%	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0343%	1h	2.1475	−0.116%	$89	$6K	5x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1500	0.000%	$951K	$933K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1536	+0.168%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0122%	1h	2.1488	−0.056%	$404K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0112%	4h	2.1530	+0.140%	$7.6M	$50.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0021%	4h	2.1540	+0.186%	$30.6M	$49.3M	50x	as long as short
Variational Omni TRUMP	−0.0017%	4h	2.1481	−0.088%	$657K	$482K	—	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1496	−0.019%	$27K	$512	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0001%	8h	2.1487	−0.062%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1545	+0.207%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0021%	4h	2.1444	−0.259%	$105K	$265K	20x	as long as short
Binance TRUMPUSDT	+0.0033%	4h	2.1531	+0.143%	$60.5M	$241.1M	75x	as long as short
Extended TRUMP-USD	+0.0040%	1h	2.1529	+0.137%	$74K	$745K	25x	as long as short
Orderly PERP_TRUMP_USDC	+0.0051%	4h	2.1530	+0.140%	$4K	$217K	10x	as long as short
Aevo TRUMP-PERP	+0.0088%	1h	2.1541	+0.192%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1557	+0.265%	$14.2M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1539	+0.181%	$424K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1507	+0.033%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1530	+0.140%	$27.2M	$172.7M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1520	+0.093%	$406K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1540	+0.186%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1550	+0.233%	$15.6M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1497	−0.014%	$252K	$319K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1417	−0.386%	$171K	$4.5M	10x	as long as short
SunX TRUMP-USDTlong	+0.0100%	4h	2.1500	long leg	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1500	0.000%	$498K	$2.1M	50x	as long as short
BloFin TRUMP-USDT	+0.0146%	4h	2.1470	−0.140%	$4.2M	$674K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1548	+0.222%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1493	−0.034%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1490	−0.047%	$279K	$280K	50x	as long as short