Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1802%/8h= +197.3% APRpaid last 24h +0.513%

Price spread now: Orderly against Injective+0.599%58s7-day average +0.056% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.444%+$44 on $10k

Price spread, last 4 days (all we have)−0.329%−$33 · spread now +0.599%, 7d avg +0.056%

Together, before fees+0.115%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$54 a day on $10k at the current rate, and Orderly is 0.542% dearer against Injective than usual: you sell high and buy low: +$54 more if the spread goes back to its 7-day average of +0.056%. The two prices were read 58 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 0.444% in total (about 23.2% 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	2.1710	−0.1765	get 0.0221% / 1h	44m 27s	$13K	$157K	12x
Short	Orderly PERP_TRUMP_USDC	2.1840	0.0036	get 0.0018% / 4h	3h 44m	$4K	$174K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.599%Rate

Funding earned: $378.34
Price spread: +0.599% → +0.056%: $54.25
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Orderly: 3 bp × 2 orders: −$6
Net: $426.57
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Injective: live order book, 60 min ago; Orderly: no order-book sample. Net counts fees only.

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, 60 min ago	48.76 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1765%	1h	2.1710	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1831	+0.559%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0208%	4h	2.1850	+0.645%	$30.9M	$49.9M	50x	as long as short
Gate TRUMP_USDT	−0.0162%	4h	2.1840	+0.599%	$7.9M	$51.1M	75x	as long as short
SoDEX TRUMP-USD	−0.0108%	1h	2.1845	+0.622%	$95	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0043%	4h	2.1849	+0.642%	$61.7M	$244.2M	75x	as long as short
Extended TRUMP-USD	−0.0040%	1h	2.1839	+0.594%	$75K	$722K	25x	as long as short
Variational Omni TRUMP	−0.0022%	4h	2.1801	+0.420%	$676K	$513K	—	as long as short
edgeX TRUMPUSDC	−0.0016%	4h	2.1821	+0.512%	$106K	$265K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1836	+0.580%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1858	+0.682%	$411K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1854	+0.661%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDCshort	+0.0036%	4h	2.1840	+0.599%	$4K	$174K	10x
Paradex TRUMP-USD-PERP	+0.0039%	8h	2.1827	+0.541%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1832	+0.564%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1818	+0.497%	$967K	$967K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1856	+0.673%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1841	+0.602%	$428K	$816K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1815	+0.486%	$188K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1840	+0.599%	$27.8M	$178.9M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1830	+0.553%	$409K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1850	+0.645%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1840	+0.599%	$15.8M	$25.8M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1800	+0.415%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1830	+0.553%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1860	+0.691%	$510K	$2.3M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1873	+0.750%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1863	+0.704%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0201%	4h	2.1830	+0.553%	$4.2M	$685K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1830	+0.553%	$282K	$279K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0409%	1h	2.1875	+0.760%	$343K	$375K	10x	as long as short