Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0292%/8h= −32.0% APRpaid last 24h −0.091%

Price spread now: HTX against Coinbase International+0.232%7-day average +0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$810.814% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 4 days (all we have)−0.220%−$22 · spread now +0.232%, 7d avg +0.012%

Together, before fees−0.276%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. HTX is 0.221% dearer against Coinbase International than usual: you sell high and buy low (spread +0.232% now, against its 7-day average of +0.012%): +$22 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 2.5 days. At the pace of the last 7 days (−0.056% in total) that is about 28 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.056% in total (about -2.9% 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	0.0392	pay 0.0049% / 1h	9m 51s	$238K	$363K	50x
Short	HTX TRUMP-USDT	2.1570	0.0100	get 0.0050% / 4h	2h 09m	$484K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.232%Rate

Funding earned: −$61.32
Price spread: +0.232% → +0.012%: $22.07
Slippage, 4 orders: −$59.37
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$120.63
Costs to cover: 0.814%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 38 min ago; HTX: 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 Coinbase International live order book, 38 min ago	6.97 bp	30.5 bp −$31	38.5 bp −$385	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	9.30 bp	18.9 bp −$19	48.0 bp −$480	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	−0.1827%	1h	2.1360	−0.743%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0376%	1h	2.1586	+0.307%	$953K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0323%	1h	2.1590	+0.325%	$83	$6K	5x	as long as short
Extended TRUMP-USD	−0.0280%	1h	2.1569	+0.228%	$74K	$739K	25x	as long as short
Binance TRUMPUSDT	−0.0279%	4h	2.1590	+0.325%	$60.9M	$251.0M	75x	as long as short
Bybit TRUMPUSDT	−0.0254%	4h	2.1590	+0.325%	$30.6M	$51.9M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	+0.239%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0193%	4h	2.1511	−0.041%	$664K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0184%	8h	2.1538	+0.083%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0140%	4h	2.1472	−0.221%	$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
Gate TRUMP_USDT	−0.0118%	4h	2.1580	+0.279%	$7.7M	$53.7M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0083%	4h	2.1590	+0.325%	$26.7M	$185.1M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0061%	4h	2.1570	+0.232%	$5K	$230K	10x	as long as short
BloFin TRUMP-USDT	−0.0039%	4h	2.1520	0.000%	$4.1M	$689K	75x	as long as short
dYdX TRUMP-USD	−0.0018%	1h	2.1533	+0.061%	$27K	$501	5x	as long as short
GRVT TRUMP_USDT_Perp	−0.0002%	4h	2.1440	−0.372%	$182K	$4.7M	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1600	+0.372%	$407K	$72K	10x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1580	+0.279%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1595	+0.347%	$41K	—	150x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1596	+0.353%	$13.6M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1590	+0.325%	$406K	$771K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1540	+0.091%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1570	+0.232%	$402K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	+0.325%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1580	+0.279%	$15.4M	$26.8M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.372%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1570	+0.232%	$484K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1591	+0.330%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1613	+0.432%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0254%	1h	2.1618	+0.455%	$384K	$412K	10x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0392%	1h	2.1520	long leg	$238K	$363K	50x