Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.1897%/8h= +207.7% APRpaid last 24h +0.526%

Price spread now: SunX against Injective+0.422%7-day average +0.181% · you sell dearer than you buy

Net, funding: paid 7d − costs−$184as in the Funding arb table

Net, price: spread back to 7d avg − costs−$226as in the Price arb table

costs, in and out, $10k−$2502.503% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.662%+$66 on $10k

Price spread, last 4 days (all we have)−0.549%−$55 · spread now +0.422%, 7d avg +0.181%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$57 a day on $10k at the current rate, and SunX is 0.242% dearer against Injective than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.181%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.662% in total (about 34.5% 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	2.1310	−0.1797	get 0.0225% / 1h	34m 59s	$12K	$157K	12x
Short	SunX TRUMP-USDT	2.1400	0.0100	get 0.0050% / 4h	34m 59s	$2K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.422%Rate

Funding earned: $398.3
Price spread: +0.422% → +0.181%: $24.18
Slippage, 4 orders: −$242.25
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $172.22
Costs to cover: 2.503%
Break-even: 4.0 days

Slippage from Injective: live order book, 54 min ago; SunX: live order book, 10 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, 54 min ago	39.78 bp	53.8 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	32.47 bp	93.9 bp −$94	doesn't fit	doesn't fit	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	−0.1797%	1h	2.1310	long leg	$12K	$157K	12x
Deribit TRUMP_USDC-PERPETUAL	−0.0404%	1h	2.1384	+0.347%	$403K	$81K	10x	as long as short
SoDEX TRUMP-USD	−0.0308%	1h	2.1385	+0.352%	$78	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1381	+0.332%	$5	—	10x	as long as short
Lighter TRUMP	−0.0200%	1h	2.1373	+0.296%	$934K	$1.0M	10x	as long as short
Variational Omni TRUMP	−0.0177%	4h	2.1391	+0.379%	$660K	$423K	—	as long as short
Binance TRUMPUSDT	−0.0171%	4h	2.1407	+0.455%	$60.5M	$251.5M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0170%	4h	2.1410	+0.469%	$26.6M	$184.0M	50x	as long as short
Extended TRUMP-USD	−0.0168%	1h	2.1399	+0.418%	$76K	$492K	25x	as long as short
Bybit TRUMPUSDT	−0.0126%	4h	2.1410	+0.469%	$30.4M	$52.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0114%	4h	2.1400	+0.422%	$7.6M	$53.2M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0084%	8h	2.1389	+0.369%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0083%	4h	2.1405	+0.448%	$104K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0055%	4h	2.1380	+0.328%	$5K	$271K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1400	+0.422%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1394	+0.395%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0030%	4h	2.1410	+0.469%	$4.1M	$10.9M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1372	+0.289%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1380	+0.328%	$169K	$470K	50x	as long as short
BloFin TRUMP-USDT	+0.0069%	4h	2.1390	+0.375%	$4.1M	$700K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1424	+0.535%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1420	+0.516%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1403	+0.436%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1400	+0.422%	$398K	$147K	125x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1400	+0.422%	$15.2M	$27.1M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1469	+0.745%	$172K	$4.4M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.1400	+0.422%	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1410	+0.469%	$481K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1392	+0.383%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0268%	1h	2.1434	+0.582%	$381K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0600%	1h	2.1420	+0.517%	$1.3M	$2.3M	50x	as long as short