Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1945%/8hnext payment −$2.43 per $10,000 · paid last 24h −0.475%

Price spread now: Injective against gTrade (Gains Network)−0.834%55s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on gTrade (Gains Network)Short on Injective

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$58 a day on $10k at the current rate, and Injective is 0.834% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (−$83 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) TRUMP/USD	2.1570	L +0.0008% / S −0.0007%	pay 0.0001% / 1h	1m 32s	$41K	—	150x
Short	Injective TRUMP/USDC PERP	2.1390	−0.1937	pay 0.0242% / 1h	1m 32s	$12K	$115K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee InjectivebpOrdersPrice spread, now −0.834%Rate

Funding earned: −$408.49
Price spread: −0.834% → 0.000%: −$83.45
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$501.96
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: gTrade (Gains Network): no order-book sample; Injective: live order book, 31 min ago. Net counts fees only.

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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Injective live order book, 31 min ago	35.12 bp	35.1 bp −$35	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1937%	1h	2.1390	−0.834%	$12K	$115K	12x
Kraken Futures PF_TRUMPUSD	−0.0393%	1h	2.1573	+0.014%	$1.0M	$2.1M	50x	as long as short
Lighter TRUMP	−0.0248%	1h	2.1549	−0.097%	$964K	$590K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1555	−0.069%	$5	—	10x	as long as short
dYdX TRUMP-USD	−0.0017%	1h	2.1564	−0.028%	$27K	$485	5x	as long as short
SoDEX TRUMP-USD	−0.0002%	1h	2.1560	−0.046%	$79	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1575	+0.023%	$404K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USDlong	L +0.0008% / S −0.0007%	1h	2.1570	long leg	$41K	—	150x
edgeX TRUMPUSDC	+0.0027%	4h	2.1485	−0.395%	$117K	$243K	20x	as long as short
MEXC TRUMP_USDC	+0.0036%	4h	2.1560	−0.046%	$474K	$136K	125x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	+0.0039%	8h	2.1551	−0.087%	$5K	—	5x	as long as short
Gate TRUMP_USDT	+0.0040%	4h	2.1560	−0.046%	$7.5M	$44.9M	75x	as long as short
Binance TRUMPUSDT	+0.0055%	4h	2.1558	−0.057%	$62.1M	$209.4M	75x	as long as short
Extended TRUMP-USD	+0.0056%	1h	2.1553	−0.080%	$74K	$473K	25x	as long as short
Orderly PERP_TRUMP_USDC	+0.0089%	4h	2.1560	−0.046%	$3K	$249K	10x	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1560	−0.046%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1585	+0.070%	$13.8M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1568	−0.009%	$440K	$824K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1562	−0.036%	$186K	$60K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1560	−0.046%	$30.1M	$40.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1550	−0.093%	$26.6M	$143.7M	50x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1570	0.000%	$4.7M	$9.7M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1560	−0.046%	$15.2M	$19.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1495	−0.348%	$668K	$231K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1510	−0.278%	$185K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.139%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1590	+0.093%	$501K	$1.6M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0103%	1h	2.1592	+0.102%	$255K	$267K	10x	as long as short
BloFin TRUMP-USDT	+0.0211%	4h	2.1520	−0.232%	$4.2M	$479K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0229% / S −0.0265%	1h	2.1573	+0.015%	$12K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0280%	1h	2.1490	−0.371%	$276K	$395K	50x	as long as short