TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0841%/8h= +92.1% APRnext payment +$1.05 per $10,000 · paid last 24h +0.125%

Price spread now: Coinbase International against Deribit+0.187%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$670.667% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.386%+$39 on $10k

Price spread, last 4 days (all we have)−0.192%−$19 · spread now +0.187%, 7d avg +0.051%

Together, before fees+0.194%+$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$25 a day on $10k at the current rate, and Coinbase International is 0.136% dearer against Deribit than usual: you sell high and buy low: +$14 more if the spread goes back to its 7-day average of +0.051%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.386% in total (about 20.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.05 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	Deribit TRUMP_USDC-PERPETUAL	2.1440	−0.0449	get 0.0056% / 1h	44m 49s	$404K	$72K	10x
Short	Coinbase International TRUMP-PERP-INTX	2.1480	0.0392	get 0.0049% / 1h	44m 49s	$275K	$304K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Deribit. 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 DeribitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.187%Rate

Funding earned: $176.64
Price spread: +0.187% → +0.051%: $13.6
Slippage, 4 orders: −$49.69
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $123.55
Costs to cover: 0.667%
Break-even: 2.1 days

Slippage from Deribit: live order book, 4 min ago; Coinbase International: 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 Deribit live order book, 4 min ago	6.27 bp	9.8 bp −$10	23.4 bp −$234	doesn't fit	doesn't fit
Sell Coinbase International live order book, 3 min ago	6.97 bp	16.6 bp −$17	20.2 bp −$202	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	2.1350	−0.420%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0557%	1h	2.1430	−0.047%	$84	$6K	5x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1426	−0.065%	$948K	$994K	10x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0449%	1h	2.1440	long leg	$404K	$72K	10x
Bybit TRUMPUSDT	−0.0288%	4h	2.1430	−0.047%	$30.5M	$51.0M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1451	+0.053%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0242%	8h	2.1453	+0.061%	$5K	$175	5x	as long as short
Binance TRUMPUSDT	−0.0227%	4h	2.1430	−0.047%	$60.4M	$247.0M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1419	−0.096%	$74K	$718K	25x	as long as short
Gate TRUMP_USDT	−0.0158%	4h	2.1440	0.000%	$7.7M	$52.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMP	−0.0128%	4h	2.1441	+0.006%	$662K	$437K	—	as long as short
edgeX TRUMPUSDC	−0.0107%	4h	2.1475	+0.161%	$105K	$265K	20x	as long as short
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1468	+0.129%	$179K	$4.7M	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0028%	4h	2.1450	+0.047%	$5K	$215K	10x	as long as short
dYdX TRUMP-USD	−0.0024%	1h	2.1468	+0.131%	$27K	$506	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0022%	4h	2.1430	−0.047%	$27.3M	$178.8M	50x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1465	+0.116%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0013%	4h	2.1430	−0.047%	$4.2M	$644K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1425	−0.070%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1449	+0.042%	$13.6M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1448	+0.038%	$403K	$802K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1468	+0.130%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1410	−0.140%	$398K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1440	0.000%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1440	0.000%	$15.4M	$26.4M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1500	+0.280%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1480	+0.187%	$488K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1460	+0.095%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0198%	1h	2.1468	+0.131%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0277%	1h	2.1468	+0.131%	$380K	$404K	10x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0392%	1h	2.1480	+0.187%	$275K	$304K	50x