Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.1877%/8h= +205.5% APRpaid last 24h +0.585%

Price spread now: BloFin against Injective+0.273%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$97as in the Price arb table

costs, in and out, $10k−$1191.194% of the position

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.746%+$75 on $10k

Price spread, last 3 days (all we have)−0.166%−$17 · spread now +0.273%, 7d avg +0.053%

Together, before fees+0.580%+$58 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$56 a day on $10k at the current rate, and BloFin is 0.220% dearer against Injective than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.053%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.746% in total (about 38.9% 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	2.1940	−0.1537	get 0.0192% / 1h	35m 50s	$13K	$157K	12x
Short	BloFin TRUMP-USDT	2.2000	0.0340	get 0.0170% / 4h	35m 50s	$4.3M	$635K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.273%Rate

Funding earned: $394.18
Price spread: +0.273% → +0.053%: $22
Slippage, 4 orders: −$107.35
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $296.82
Costs to cover: 1.194%
Break-even: 1.7 days

Slippage from Injective: live order book, 28 min ago; BloFin: live order book, 3 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, 28 min ago	38.84 bp	52.5 bp −$52	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	6.80 bp	12.8 bp −$13	22.1 bp −$221	44.8 bp −$4,475	144.7 bp −$72.3K

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	−0.1537%	1h	2.1940	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1997	+0.261%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2000	+0.273%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2005	+0.296%	$413K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2006	+0.303%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2002	+0.282%	$120K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0092%	4h	2.2010	+0.319%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1998	+0.264%	$986K	$738K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0097%	8h	2.2001	+0.279%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2006	+0.301%	$458K	$832K	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	2.2007	+0.307%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1991	+0.232%	$63.4M	$224.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1970	+0.137%	$31.0M	$44.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1980	+0.182%	$27.2M	$152.6M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1990	+0.228%	$7.4M	$48.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1980	+0.182%	$481K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2000	+0.273%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1980	+0.182%	$15.8M	$21.5M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2002	+0.285%	$645K	$373K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2096	+0.712%	$193K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2030	+0.410%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1999	+0.269%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2030	+0.410%	$558K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1991	+0.234%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1995	+0.248%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2000	+0.273%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0332%	1h	2.2000	+0.273%	$14.2M	$7.5M	10x	as long as short
BloFin TRUMP-USDTshort	+0.0340%	4h	2.2000	+0.273%	$4.3M	$635K	75x
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.547%	$285K	$391K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0509%	1h	2.2021	+0.369%	$259K	$278K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0868%	1h	2.2021	+0.371%	$1.3M	$2.5M	50x	as long as short