Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1747%/8h= +191.3% APRpaid last 24h +0.528%

Price spread now: MEXC against Injective−0.231%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$137as in the Price arb table

costs, in and out, $10k−$1111.105% of the position

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.432%+$43 on $10k

Price spread, last 4 days (all we have)+0.493%+$49 · spread now −0.231%, 7d avg +0.034%

Together, before fees+0.924%+$92 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.266% cheaper against Injective than usual: you would sell low and buy high (spread −0.231% now, against its 7-day average of +0.034%). If the spread goes back, that is −$27 on $10k: about 12 hours of funding at the current rate (+$52 a day). At the pace of the last 7 days (+0.432% in total) that is about 4.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.432% in total (about 22.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TRUMP/USDC PERP	2.1600	−0.1841	get 0.0230% / 1h	15m 20s	$13K	$157K	12x
Short	MEXC TRUMP_USDC	2.1550	−0.0094	pay 0.0047% / 4h	2h 15m	$393K	$151K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 MEXCbpOrdersPrice spread, now −0.231%Rate

Funding earned: $366.94
Price spread: −0.231% → +0.034%: −$26.59
Slippage, 4 orders: −$110.53
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: $229.81
Costs to cover: 1.105%
Break-even: 2.6 days

Slippage from Injective: live order book, 36 min ago; MEXC: live order book, 30 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	39.58 bp	58.1 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 30 min ago	2.33 bp	6.4 bp −$6	17.5 bp −$175	123.0 bp −$12.3K	doesn't fit

TRUMP on 32 exchanges

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	−0.1841%	1h	2.1600	long leg	$13K	$157K	12x
Variational Omni TRUMP	−0.0368%	4h	2.1560	−0.183%	$669K	$403K	—	as long as short
Bybit TRUMPUSDT	−0.0330%	4h	2.1570	−0.139%	$31.4M	$49.4M	50x	as long as short
SoDEX TRUMP-USD	−0.0328%	1h	2.1565	−0.162%	$67	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0326%	4h	2.1560	−0.185%	$27.3M	$177.2M	50x	as long as short
Binance TRUMPUSDT	−0.0299%	4h	2.1564	−0.165%	$63.3M	$241.5M	75x	as long as short
Extended TRUMP-USD	−0.0296%	1h	2.1556	−0.204%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0264%	1h	2.1551	−0.227%	$932K	$979K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1560	−0.183%	$5	—	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.370%	$133K	$516K	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0238%	4h	2.1570	−0.139%	$7.8M	$48.5M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0213%	8h	2.1553	−0.218%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1544	−0.259%	$105K	$254K	20x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0121%	1h	2.1570	−0.139%	$387K	$78K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0116%	4h	2.1570	−0.139%	$4.2M	$10.2M	50x	as long as short
MEXC TRUMP_USDCshort	−0.0094%	4h	2.1550	−0.231%	$393K	$151K	125x
Orderly PERP_TRUMP_USDC	−0.0077%	4h	2.1560	−0.185%	$5K	$311K	10x	as long as short
BloFin TRUMP-USDT	−0.0057%	4h	2.1570	−0.139%	$4.3M	$681K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1580	−0.093%	$15.4M	$25.6M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1576	−0.113%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1544	−0.261%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1584	−0.075%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0016%	1h	2.1590	−0.045%	$1.3M	$2.1M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0030%	4h	2.1560	−0.185%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1588	−0.056%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1580	−0.093%	$407K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1565	−0.162%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1590	−0.046%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1590	−0.046%	$497K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1570	−0.139%	$94K	$248K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0188% / S −0.0182%	1h	2.1578	−0.101%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0226%	1h	2.1601	+0.005%	$386K	$402K	10x	as long as short