TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0440%/8h= −48.2% APRnext payment −$0.55 per $10,000 · paid last 24h −0.091%

Price spread now: Extended against Coinbase International+0.087%7-day average −0.132% · you sell dearer than you buy

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$650.654% of the position

Long on Coinbase International Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.277%−$28 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.087%, 7d avg −0.132%

Together, before fees−0.375%+ Points / potential airdropExtended: Active · farm board−$38 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.219% dearer against Coinbase International than usual: you sell high and buy low (spread +0.087% now, against its 7-day average of −0.132%): +$22 on $10k if it goes back. Holding the pair costs −$13 a day in funding at the current rate, which eats that in about 40 hours. At the pace of the last 7 days (−0.277% in total) that is about 5.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.277% in total (about -14.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.55 per $10,000. 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	2.1840	0.0400	pay 0.0050% / 1h	43m 38s	$282K	$279K	50x
Short	Extended TRUMP-USD	2.1859	−0.0040	pay 0.0005% / 1h	43m 38s	$75K	$722K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$92.4
Price spread: +0.087% → −0.132%: $21.9
Slippage, 4 orders: −$50.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$135.94
Costs to cover: 0.654%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 9 min ago; Extended: live order book, 9 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, 9 min ago	13.74 bp	23.2 bp −$23	31.7 bp −$317	doesn't fit	doesn't fit
Sell Extended live order book, 9 min ago	6.89 bp	9.9 bp −$10	32.2 bp −$322	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	−0.1765%	1h	2.1710	−0.595%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1871	+0.144%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0155%	4h	2.1880	+0.183%	$31.0M	$49.9M	50x	as long as short
SoDEX TRUMP-USD	−0.0107%	1h	2.1845	+0.023%	$95	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0084%	4h	2.1870	+0.137%	$7.9M	$51.1M	75x	as long as short
Binance TRUMPUSDT	−0.0046%	4h	2.1880	+0.183%	$61.9M	$244.1M	75x	as long as short
Extended TRUMP-USDshort	−0.0040%	1h	2.1859	+0.087%	$75K	$722K	25x
Variational Omni TRUMP	−0.0022%	4h	2.1801	−0.178%	$676K	$513K	—	as long as short
edgeX TRUMPUSDC	−0.0016%	4h	2.1821	−0.087%	$106K	$265K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1886	+0.209%	$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
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1853	+0.060%	$411K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1854	+0.062%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0036%	4h	2.1840	0.000%	$4K	$174K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0040%	8h	2.1869	+0.131%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1831	−0.043%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1872	+0.147%	$969K	$968K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1886	+0.211%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1880	+0.184%	$428K	$816K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1869	+0.134%	$188K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	+0.183%	$27.9M	$179.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	+0.092%	$410K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1880	+0.183%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1880	+0.183%	$15.8M	$25.8M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1840	0.000%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1860	+0.092%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.137%	$510K	$2.3M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1873	+0.150%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1863	+0.104%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0201%	4h	2.1830	−0.046%	$4.2M	$685K	75x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0400%	1h	2.1840	long leg	$282K	$279K	50x
Backpack TRUMP_USDC_PERP	+0.0401%	1h	2.1898	+0.266%	$344K	$374K	10x	as long as short