Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1572%/8h= +172.1% APRpaid last 24h +0.520%

Price spread now: Bitget against Injective+0.321%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$85as in the Price arb table

costs, in and out, $10k−$1151.152% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.426%+$43 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now +0.321%, 7d avg +0.023%

Together, before fees+0.342%+$34 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$47 a day on $10k at the current rate, and Bitget is 0.298% dearer against Injective than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.023%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.426% in total (about 22.2% 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	Injective TRUMP/USDC PERP	2.1810	−0.1472	get 0.0184% / 1h	46m 39s	$13K	$137K	12x
Short	Bitget TRUMPUSDT	2.1880	0.0100	get 0.0050% / 4h	1h 46m	$15.5M	$20.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now +0.321%Rate

Funding earned: $330.06
Price spread: +0.321% → +0.023%: $29.78
Slippage, 4 orders: −$103.13
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $244.68
Costs to cover: 1.152%
Break-even: 1.8 days

Slippage from Injective: live order book, 22 min ago; Bitget: live order book, 2 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 Injective live order book, 22 min ago	34.40 bp	59.6 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	2.28 bp	8.3 bp −$8	12.7 bp −$127	49.0 bp −$4,900	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 PERPlong	−0.1472%	1h	2.1810	long leg	$13K	$137K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1894	+0.383%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1882	+0.330%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1882	+0.330%	$410K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1877	+0.305%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1857	+0.216%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1880	+0.321%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0088%	8h	2.1877	+0.308%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1875	+0.298%	$973K	$671K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1907	+0.445%	$14.0M	$7.4M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1890	+0.366%	$456K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1888	+0.359%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1875	+0.300%	$62.3M	$217.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1870	+0.275%	$30.6M	$42.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	+0.321%	$26.8M	$148.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1880	+0.321%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	+0.275%	$480K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	+0.367%	$4.7M	$10.4M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1880	+0.321%	$15.5M	$20.6M	75x
Variational Omni TRUMP	+0.0100%	4h	2.1863	+0.244%	$683K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1860	+0.230%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1900	+0.413%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1870	+0.275%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1940	+0.596%	$517K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1871	+0.281%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1872	+0.286%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1874	+0.292%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0262%	1h	2.1896	+0.394%	$259K	$268K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1870	+0.275%	$4.2M	$520K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	+0.229%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1896	+0.393%	$1.3M	$2.4M	50x	as long as short