Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0052%/8h= −5.7% APRpaid last 24h −0.077%

Price spread now: Kraken Futures against BloFin+0.163%7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$600.604% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.482%−$48 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.163%, 7d avg +0.066%

Together, before fees−0.614%−$61 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.097% dearer against BloFin than usual: you sell high and buy low (spread +0.163% now, against its 7-day average of +0.066%): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 6.2 days. At the pace of the last 7 days (−0.482% in total) that is about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TRUMP-USDT	2.1750	0.0340	pay 0.0170% / 4h	1h 24m	$4.3M	$657K	75x
Short	Kraken Futures PF_TRUMPUSD	2.1785	0.0288	get 0.0036% / 1h	24m 45s	$1.3M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.163%Rate

Funding earned: −$10.92
Price spread: +0.163% → +0.066%: $9.68
Slippage, 4 orders: −$38.38
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$61.62
Costs to cover: 0.604%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Kraken Futures: live order book, 4 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 BloFin live order book, 4 min ago	4.60 bp	12.6 bp −$13	18.0 bp −$180	41.4 bp −$4,141	131.0 bp −$65.5K
Sell Kraken Futures live order book, 4 min ago	4.60 bp	15.5 bp −$15	27.2 bp −$272	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	−0.1659%	1h	2.1580	−0.782%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1751	+0.005%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0056%	4h	2.1770	+0.092%	$7.6M	$50.0M	75x	as long as short
Lighter TRUMP	−0.0032%	1h	2.1761	+0.051%	$969K	$795K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0026%	1h	2.1770	+0.092%	$410K	$72K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1766	+0.073%	$27K	$512	5x	as long as short
SoDEX TRUMP-USD	+0.0003%	1h	2.1759	+0.041%	$84	$6K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1774	+0.113%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0041%	8h	2.1783	+0.151%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1701	−0.224%	$105K	$263K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	+0.0050%	4h	2.1770	+0.092%	$31.0M	$48.3M	50x	as long as short
Orderly PERP_TRUMP_USDC	+0.0073%	4h	2.1760	+0.046%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1793	+0.198%	$14.4M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1777	+0.122%	$431K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1780	+0.140%	$187K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1770	+0.092%	$62.9M	$237.3M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1780	+0.138%	$27.5M	$170.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1750	0.000%	$417K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1770	+0.092%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1780	+0.138%	$15.5M	$25.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1721	−0.135%	$682K	$453K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1728	−0.102%	$180K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1790	+0.184%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1800	+0.230%	$533K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1759	+0.043%	$115K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1760	+0.046%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0108%	1h	2.1777	+0.124%	$255K	$319K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1769	+0.090%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0288%	1h	2.1785	+0.163%	$1.3M	$2.2M	50x
BloFin TRUMP-USDTlong	+0.0340%	4h	2.1750	long leg	$4.3M	$657K	75x
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1650	−0.460%	$280K	$297K	50x	as long as short