Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.1749%/8h= −191.5% APRpaid last 24h −0.498%

Price spread now: Injective against edgeX−0.509%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$163as in the Funding arb table

Net, price: spread back to 7d avg − costs−$172as in the Price arb table

costs, in and out, $10k−$1261.257% of the position

Long on edgeX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.374%−$37 on $10k

Price spread, last 4 days (all we have)+0.223%+$22 · spread now −0.509%, 7d avg −0.045%

Together, before fees−0.150%+ Points / potential airdropedgeX: Active · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Injective is 0.464% cheaper against edgeX than usual: you would sell low and buy high (−$46 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.374% in total (about -19.5% 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	edgeX TRUMPUSDC	2.1821	−0.0016	get 0.0008% / 4h	3h 44m	$106K	$265K	20x
Short	Injective TRUMP/USDC PERP	2.1710	−0.1765	pay 0.0221% / 1h	44m 05s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against edgeX. 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 edgeXbpFee InjectivebpOrdersPrice spread, now −0.509%Rate

Funding earned: −$367.27
Price spread: −0.509% → −0.045%: −$46.43
Slippage, 4 orders: −$116.65
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$539.37
Costs to cover: 1.257%
Break-even: never at this rate

Slippage from edgeX: live order book, 8 min ago; Injective: live order book, 60 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 edgeX live order book, 8 min ago	6.88 bp	13.7 bp −$14	36.8 bp −$368	doesn't fit	doesn't fit
Sell Injective live order book, 60 min ago	48.76 bp	48.8 bp −$49	doesn't fit	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 PERPshort	−0.1765%	1h	2.1710	−0.509%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1831	+0.047%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0208%	4h	2.1860	+0.178%	$30.9M	$49.9M	50x	as long as short
Gate TRUMP_USDT	−0.0162%	4h	2.1860	+0.178%	$7.9M	$51.1M	75x	as long as short
SoDEX TRUMP-USD	−0.0107%	1h	2.1845	+0.110%	$95	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0043%	4h	2.1868	+0.214%	$61.7M	$244.2M	75x	as long as short
Extended TRUMP-USD	−0.0040%	1h	2.1839	+0.082%	$75K	$722K	25x	as long as short
Variational Omni TRUMP	−0.0022%	4h	2.1801	−0.091%	$676K	$513K	—	as long as short
edgeX TRUMPUSDClong	−0.0016%	4h	2.1821	long leg	$106K	$265K	20x
dYdX TRUMP-USD	0.0000%	1h	2.1836	+0.068%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1853	+0.146%	$411K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1854	+0.148%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0036%	4h	2.1840	+0.087%	$4K	$174K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0039%	8h	2.1827	+0.029%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1831	+0.043%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1845	+0.110%	$968K	$967K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1886	+0.297%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1860	+0.180%	$428K	$816K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1815	−0.026%	$188K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1860	+0.178%	$27.9M	$179.1M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	+0.178%	$410K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1860	+0.178%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1870	+0.224%	$15.8M	$25.8M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1800	−0.097%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1860	+0.178%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1870	+0.224%	$510K	$2.3M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1873	+0.236%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1863	+0.191%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0201%	4h	2.1830	+0.041%	$4.2M	$685K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1840	+0.087%	$282K	$279K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0401%	1h	2.1898	+0.352%	$344K	$374K	10x	as long as short