Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0256%/8h= −28.1% APRpaid last 24h −0.023%

Price spread now: BloFin against Coinbase International−0.093%58s7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$690.688% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.143%+$14 on $10k

Price spread, last 4 days (all we have)+0.093%+$9 · spread now −0.093%, 7d avg −0.092%

Together, before fees+0.236%+$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.092%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.143%, so the current rate has only just turned against you. The two prices were read 58 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.143% in total (about 7.5% 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	Coinbase International TRUMP-PERP-INTX	2.1520	0.0472	pay 0.0059% / 1h	5m 42s	$278K	$276K	50x
Short	BloFin TRUMP-USDT	2.1500	0.0216	get 0.0108% / 4h	5m 42s	$4.1M	$680K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. 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 Coinbase InternationalbpFee BloFinbpOrdersPrice spread, now −0.093%Rate

Funding earned: −$53.83
Price spread: −0.093% → −0.092%: −$0.13
Slippage, 4 orders: −$46.79
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$122.75
Costs to cover: 0.688%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 52 min ago; BloFin: live order book, 3 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 Coinbase International live order book, 52 min ago	16.32 bp	24.0 bp −$24	64.6 bp −$646	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	2.33 bp	8.3 bp −$8	11.4 bp −$114	30.9 bp −$3,086	88.1 bp −$44.1K

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	2.1390	−0.604%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1452	−0.318%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0085%	1h	2.1450	−0.325%	$93	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0056%	4h	2.1430	−0.418%	$7.6M	$51.2M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0030%	1h	2.1459	−0.283%	$404K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0026%	4h	2.1450	−0.325%	$60.2M	$242.3M	75x	as long as short
Extended TRUMP-USD	−0.0024%	1h	2.1439	−0.377%	$74K	$721K	25x	as long as short
Variational Omni TRUMP	−0.0022%	4h	2.1451	−0.319%	$662K	$488K	—	as long as short
edgeX TRUMPUSDC	−0.0008%	4h	2.1571	+0.237%	$105K	$263K	20x	as long as short
dYdX TRUMP-USD	−0.0002%	1h	2.1468	−0.242%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	0.0000%	1h	2.1441	−0.367%	$948K	$957K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1464	−0.259%	$40K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0032%	8h	2.1453	−0.309%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0043%	4h	2.1450	−0.325%	$4K	$197K	10x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1443	−0.357%	$19K	—	3x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1450	−0.325%	$30.4M	$49.6M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1462	−0.270%	$13.6M	$7.9M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1452	−0.317%	$420K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1467	−0.246%	$185K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1450	−0.325%	$27.1M	$172.9M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1440	−0.372%	$403K	$152K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1450	−0.325%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1440	−0.372%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1473	−0.218%	$341K	$365K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1540	+0.093%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1480	−0.186%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1470	−0.232%	$501K	$2.2M	50x	as long as short
BloFin TRUMP-USDTshort	+0.0216%	4h	2.1500	−0.093%	$4.1M	$680K	75x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1464	−0.259%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1477	−0.199%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0472%	1h	2.1520	long leg	$278K	$276K	50x