TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0430%/8h= +47.1% APRnext payment +$0.54 per $10,000 · paid last 24h +0.042%

Price spread now: Kraken Futures against Deribit+0.080%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$610.613% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.080%, 7d avg +0.043%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and Kraken Futures is 0.037% dearer against Deribit than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.043%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 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	2.1455	−0.0309	get 0.0039% / 1h	35m 03s	$388K	$81K	10x
Short	Kraken Futures PF_TRUMPUSD	2.1472	0.0121	get 0.0015% / 1h	35m 03s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.080%Rate

Funding earned: $90.34
Price spread: +0.080% → +0.043%: $3.69
Slippage, 4 orders: −$44.32
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $32.7
Costs to cover: 0.613%
Break-even: 4.5 days

Slippage from Deribit: live order book, 64 min ago; Kraken Futures: 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 Deribit live order book, 64 min ago	8.85 bp	12.4 bp −$12	22.8 bp −$228	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 4 min ago	4.65 bp	17.6 bp −$18	32.5 bp −$325	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	−0.1829%	1h	2.1350	−0.489%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0590%	1h	2.1445	−0.047%	$71	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0403%	4h	2.1450	−0.023%	$30.6M	$51.8M	50x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	−0.0309%	1h	2.1455	long leg	$388K	$81K	10x
Variational Omni TRUMP	−0.0300%	4h	2.1451	−0.016%	$662K	$415K	—	as long as short
Gate TRUMP_USDT	−0.0270%	4h	2.1450	−0.023%	$7.7M	$49.7M	75x	as long as short
Extended TRUMP-USD	−0.0256%	1h	2.1429	−0.119%	$74K	$494K	25x	as long as short
Binance TRUMPUSDT	−0.0253%	4h	2.1450	−0.023%	$60.9M	$247.5M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0245%	4h	2.1430	−0.117%	$26.9M	$182.3M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1432	−0.109%	$5	—	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0232%	1h	2.1436	−0.089%	$937K	$990K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0161%	8h	2.1449	−0.028%	$5K	$175	5x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1450	−0.023%	$156K	$482K	50x	as long as short
GRVT TRUMP_USDT_Perp	−0.0122%	4h	2.1439	−0.075%	$180K	$4.3M	10x	as long as short
edgeX TRUMPUSDC	−0.0120%	4h	2.1432	−0.108%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0098%	4h	2.1450	−0.023%	$5K	$296K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0048%	4h	2.1440	−0.070%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0024%	1h	2.1466	+0.053%	$27K	$805	5x	as long as short
BloFin TRUMP-USDT	−0.0013%	4h	2.1460	+0.023%	$4.2M	$686K	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1475	+0.091%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1431	−0.112%	$19K	—	3x	as long as short
Bitget TRUMPUSDT	+0.0026%	4h	2.1450	−0.023%	$15.3M	$26.5M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1466	+0.051%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1467	+0.055%	$408K	$719K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1471	+0.075%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1440	−0.070%	$398K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1490	+0.163%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1480	+0.117%	$499K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0121%	1h	2.1472	+0.080%	$1.3M	$2.3M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1461	+0.027%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0294%	1h	2.1484	+0.135%	$383K	$422K	10x	as long as short