Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1529%/8h= +167.5% APRpaid last 24h +0.518%

Price spread now: Gate against Injective+0.137%69s7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as 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−$1221.225% of the position

Long on Injective Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.517%+$52 on $10k

Price spread, last 3 days (all we have)−0.394%−$39 · spread now +0.137%, 7d avg +0.046%

Together, before fees+0.123%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$46 a day on $10k at the current rate, and Gate is 0.091% dearer against Injective than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.046%. The two prices were read 69 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 0.517% in total (about 27.0% 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	2.1920	−0.1623	get 0.0203% / 1h	18m 14s	$13K	$157K	12x
Short	Gate TRUMP_USDT	2.1950	−0.0094	pay 0.0047% / 4h	2h 18m	$7.8M	$49.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.137%Rate

Funding earned: $321.14
Price spread: +0.137% → +0.046%: $9.11
Slippage, 4 orders: −$107.46
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $207.77
Costs to cover: 1.225%
Break-even: 2.5 days

Slippage from Injective: live order book, 36 min ago; Gate: live order book, 6 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, 36 min ago	47.63 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	4.55 bp	13.5 bp −$13	20.9 bp −$209	67.3 bp −$6,727	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1920	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1971	+0.232%	$5	—	10x	as long as short
Gate TRUMP_USDTshort	−0.0094%	4h	2.1950	+0.137%	$7.8M	$49.3M	75x
dYdX TRUMP-USD	0.0000%	1h	2.2016	+0.439%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2007	+0.397%	$414K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1994	+0.339%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1952	+0.144%	$107K	$263K	20x	as long as short
Lighter TRUMP	+0.0064%	1h	2.1994	+0.338%	$978K	$790K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0072%	8h	2.2010	+0.412%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0074%	1h	2.2005	+0.388%	$78	$6K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1980	+0.274%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1971	+0.233%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1977	+0.260%	$435K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2014	+0.429%	$190K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1988	+0.309%	$64.0M	$236.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1960	+0.182%	$31.6M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1950	+0.137%	$28.9M	$170.6M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1960	+0.182%	$437K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1980	+0.274%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1960	+0.182%	$15.7M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1951	+0.141%	$691K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2029	+0.499%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2020	+0.456%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2030	+0.502%	$558K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1999	+0.361%	$76K	$597K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1995	+0.342%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1991	+0.324%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0277%	1h	2.1988	+0.310%	$257K	$320K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0513%	1h	2.2025	+0.478%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2020	+0.456%	$286K	$305K	50x	as long as short