TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0215%/8h= −23.5% APRnext payment −$0.27 per $10,000 · paid last 24h −0.098%

Price spread now: Kraken Futures against Coinbase International−0.137%7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$119as in the Funding arb table

Net, price: spread back to 7d avg − costs−$99as in the Price arb table

costs, in and out, $10k−$860.857% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.334%−$33 on $10k

Price spread, last 3 days (all we have)+0.209%+$21 · spread now −0.137%, 7d avg −0.009%

Together, before fees−0.125%−$13 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Kraken Futures is 0.128% cheaper against Coinbase International than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.009%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1710	0.0504	pay 0.0063% / 1h	50m 12s	$281K	$300K	50x
Short	Kraken Futures PF_TRUMPUSD	2.1680	0.0289	get 0.0036% / 1h	50m 12s	$1.2M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$45.07
Price spread: −0.137% → −0.009%: −$12.82
Slippage, 4 orders: −$65.7
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$143.6
Costs to cover: 0.857%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 13 min ago; Kraken Futures: 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, 13 min ago	15.93 bp	20.9 bp −$21	25.3 bp −$253	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	4.57 bp	16.8 bp −$17	29.8 bp −$298	doesn't fit	doesn't fit

TRUMP on 30 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	2.1770	+0.276%	$13K	$157K	12x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1680	−0.138%	$965K	$792K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1686	−0.112%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0111%	1h	2.1655	−0.253%	$84	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0110%	4h	2.1700	−0.046%	$7.6M	$49.1M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1780	+0.322%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1690	−0.092%	$408K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1704	−0.026%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1808	+0.450%	$106K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0054%	8h	2.1800	+0.413%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0082%	4h	2.1690	−0.092%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1718	+0.037%	$14.3M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1713	+0.013%	$429K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1796	+0.395%	$188K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1700	−0.046%	$63.0M	$235.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1710	0.000%	$31.2M	$48.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1710	0.000%	$28.0M	$168.6M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1680	−0.138%	$426K	$142K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1690	−0.092%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1720	+0.046%	$15.5M	$24.8M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1718	+0.037%	$255K	$316K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1831	+0.556%	$688K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1860	+0.691%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1720	+0.046%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1730	+0.092%	$530K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1664	−0.210%	$115K	$705K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1675	−0.161%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1707	−0.015%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0289%	1h	2.1680	−0.137%	$1.2M	$2.2M	50x
Coinbase International TRUMP-PERP-INTXlong	+0.0504%	1h	2.1710	long leg	$281K	$300K	50x