Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0496%/8h= −54.3% APRpaid last 24h −0.101%

Price spread now: Gate against Coinbase International0.000%7-day average −0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$750.746% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.139%−$14 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now 0.000%, 7d avg −0.078%

Together, before fees−0.151%−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.078% dearer against Coinbase International than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.078%): +$8 on $10k if it goes back. Holding the pair costs −$15 a day in funding at the current rate, which eats that in about 13 hours. At the pace of the last 7 days (−0.139% in total) that is about 3.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.139% in total (about -7.2% 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	2.1540	0.0392	pay 0.0049% / 1h	3m 20s	$214K	$410K	50x
Short	Gate TRUMP_USDT	2.1540	−0.0104	pay 0.0052% / 4h	2h 03m	$7.7M	$54.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$104.16
Price spread: 0.000% → −0.078%: $7.76
Slippage, 4 orders: −$49.61
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$171.01
Costs to cover: 0.746%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 45 min ago; Gate: live order book, 6 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, 45 min ago	6.97 bp	30.5 bp −$31	38.5 bp −$385	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	2.32 bp	15.7 bp −$16	26.6 bp −$266	72.6 bp −$7,257	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	−0.1827%	1h	2.1440	−0.464%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0344%	1h	2.1534	−0.028%	$952K	$1.0M	10x	as long as short
Extended TRUMP-USD	−0.0272%	1h	2.1539	−0.007%	$74K	$739K	25x	as long as short
Binance TRUMPUSDT	−0.0271%	4h	2.1540	0.000%	$60.7M	$251.4M	75x	as long as short
SoDEX TRUMP-USD	−0.0268%	1h	2.1545	+0.023%	$82	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1531	−0.042%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0193%	4h	2.1540	0.000%	$30.6M	$52.2M	50x	as long as short
Variational Omni TRUMP	−0.0180%	4h	2.1531	−0.041%	$664K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0154%	8h	2.1546	+0.029%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0138%	4h	2.1533	−0.035%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDTshort	−0.0104%	4h	2.1540	0.000%	$7.7M	$54.0M	75x
OKX TRUMP-USDT-SWAP	−0.0085%	4h	2.1530	−0.046%	$26.6M	$185.2M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0063%	4h	2.1550	+0.046%	$4K	$234K	10x	as long as short
BloFin TRUMP-USDT	−0.0036%	4h	2.1530	−0.046%	$4.1M	$690K	75x	as long as short
dYdX TRUMP-USD	−0.0015%	1h	2.1556	+0.075%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1550	+0.046%	$406K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1543	+0.014%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1527	−0.059%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0034%	4h	2.1517	−0.106%	$182K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1552	+0.056%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1547	+0.034%	$405K	$774K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1546	+0.029%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1540	0.000%	$402K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1550	+0.046%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1550	+0.046%	$15.4M	$27.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1560	+0.093%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1560	+0.093%	$486K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1540	+0.001%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1577	+0.170%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0278%	1h	2.1575	+0.162%	$384K	$413K	10x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0392%	1h	2.1540	long leg	$214K	$410K	50x