Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0347%/8h= −38.0% APRpaid last 24h −0.029%

Price spread now: Binance against Kraken Futures−0.100%7-day average −0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$470.468% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)−0.028%−$3 · spread now −0.100%, 7d avg −0.077%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Binance is 0.024% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.077%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.008% in total (about -0.4% 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	Kraken Futures PF_TRUMPUSD	2.1484	0.0023	pay 0.0003% / 1h	43m 55s	$1.3M	$1.9M	50x
Short	Binance TRUMPUSDT	2.1463	−0.0323	pay 0.0162% / 4h	1h 43m	$63.0M	$237.6M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.100%Rate

Funding earned: −$72.82
Price spread: −0.100% → −0.077%: −$2.38
Slippage, 4 orders: −$26.8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$122
Costs to cover: 0.468%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Binance: live order book, 8 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 Kraken Futures live order book, 3 min ago	4.65 bp	18.4 bp −$18	28.7 bp −$287	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	2.33 bp	7.3 bp −$7	11.6 bp −$116	37.8 bp −$3,784	197.8 bp −$98.9K

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
Variational Omni TRUMP	−0.0413%	4h	2.1460	−0.116%	$668K	$399K	—	as long as short
SoDEX TRUMP-USD	−0.0383%	1h	2.1455	−0.137%	$78	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0371%	4h	2.1460	−0.114%	$31.3M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0350%	4h	2.1460	−0.114%	$27.3M	$172.8M	50x	as long as short
Binance TRUMPUSDTshort	−0.0323%	4h	2.1463	−0.100%	$63.0M	$237.6M	75x
Extended TRUMP-USD	−0.0320%	1h	2.1448	−0.170%	$74K	$491K	25x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1410	−0.346%	$131K	$514K	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0262%	1h	2.1462	−0.104%	$385K	$78K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1430	−0.255%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0244%	4h	2.1460	−0.114%	$7.8M	$47.2M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0184%	8h	2.1413	−0.332%	$5K	$175	5x	as long as short
MEXC TRUMP_USDC	−0.0164%	4h	2.1440	−0.207%	$388K	$142K	125x	as long as short
edgeX TRUMPUSDC	−0.0161%	4h	2.1461	−0.108%	$105K	$254K	20x	as long as short
Lighter TRUMP	−0.0160%	1h	2.1454	−0.142%	$922K	$955K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0132%	4h	2.1450	−0.160%	$4.2M	$10.1M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0083%	4h	2.1440	−0.207%	$5K	$303K	10x	as long as short
BloFin TRUMP-USDT	−0.0081%	4h	2.1450	−0.160%	$4.3M	$675K	75x	as long as short
Bitget TRUMPUSDT	−0.0032%	4h	2.1470	−0.067%	$15.4M	$25.0M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1455	−0.139%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	0.0000%	1h	2.1439	−0.212%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1461	−0.111%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0023%	1h	2.1484	long leg	$1.3M	$1.9M	50x
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.538%	$13K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0034%	4h	2.1477	−0.033%	$185K	$4.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1473	−0.053%	$13.6M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1468	−0.075%	$404K	$644K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1422	−0.291%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1480	−0.021%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1430	−0.253%	$496K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1480	−0.021%	$154K	$369K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0167%	1h	2.1491	+0.031%	$381K	$394K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0197% / S −0.0194%	1h	2.1456	−0.130%	$11K	—	100x	as long as short