Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0674%/8h= +73.8% APRpaid last 24h −0.018%

Price spread now: Kraken Futures against Gate+0.193%51s7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$630.625% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.242%−$24 on $10k

Price spread, last 3 days (all we have)−0.094%−$9 · spread now +0.193%, 7d avg +0.069%

Together, before fees−0.336%−$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.124% dearer against Gate than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.069%. Mind the row above: over the last 7 days funding on this pair cost −0.242%, so the current rate has only just turned in your favour. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.242% in total (about -12.6% 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	Gate TRUMP_USDT	2.2220	0.0100	pay 0.0050% / 4h	3h 22m	$7.7M	$47.5M	75x
Short	Kraken Futures PF_TRUMPUSD	2.2263	0.0774	get 0.0097% / 1h	22m 23s	$1.3M	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.193%Rate

Funding earned: $141.54
Price spread: +0.193% → +0.069%: $12.38
Slippage, 4 orders: −$37.53
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $91.39
Costs to cover: 0.625%
Break-even: 2.5 days

Slippage from Gate: live order book, 1 min ago; Kraken Futures: live order book, 1 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 Gate live order book, 1 min ago	4.50 bp	12.2 bp −$12	20.3 bp −$203	64.3 bp −$6,426	doesn't fit
Sell Kraken Futures live order book, 1 min ago	4.49 bp	13.9 bp −$14	31.5 bp −$315	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	−0.1608%	1h	2.1910	−1.395%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2212	−0.038%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2255	+0.158%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2234	+0.063%	$417K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2229	+0.040%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2107	−0.508%	$120K	$249K	20x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2244	+0.108%	$988K	$777K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2250	+0.135%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2223	+0.013%	$5K	$175	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2234	+0.064%	$463K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2252	+0.144%	$192K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2247	+0.119%	$63.6M	$222.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2250	+0.135%	$31.2M	$44.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2260	+0.180%	$27.7M	$156.2M	50x	as long as short
Gate TRUMP_USDTlong	+0.0100%	4h	2.2220	long leg	$7.7M	$47.5M	75x
MEXC TRUMP_USDC	+0.0100%	4h	2.2200	−0.090%	$481K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2220	0.000%	$4.5M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2220	0.000%	$16.3M	$22.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2101	−0.534%	$707K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2167	−0.240%	$182K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2250	+0.135%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2235	+0.068%	$77	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2290	+0.315%	$563K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2210	−0.045%	$79K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2218	−0.007%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0162%	1h	2.2247	+0.122%	$14.4M	$6.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2237	+0.076%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2240	+0.090%	$4.2M	$643K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0476%	1h	2.2272	+0.234%	$283K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2280	+0.270%	$290K	$277K	50x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0774%	1h	2.2263	+0.193%	$1.3M	$2.5M	50x